North Sea Drilling Applications Reach High

Tuesday, June 20, 2006
Stv is reporting that the number of applications for companies applying to drill for oil in the north sea is at a 30 year high. Government ministers say fields are clearly not in their twilight years and so far it seems that oil companies have not been put off by recent tax rises. The north sea rigs and platforms are supplied by vessels which leave from Aberdeen's harbour, so this boom certainly seems to be good news for the industry and the local economy. The government licence companies to explore and drill certain blocks in the sea and applications for those licences are at a 30 year high - 147 applications from 121 companies. Technology developed in Aberdeen has developed innovative new ways of extracting oil and the energy minister has praised local firms and staff. The energy minister also said the north sea fields are clearly not in their twilight years. There had been concerns from the industry about the future because of recent tax increases from Chancellor Gordon Brown - the corporation tax rate on oil and gas was doubled to 20%. The Department of Trade and Industry say despite the windfall tax there is clearly still interest in the industry, but political opponents say it is hardly surprising considering oil is selling at the high price of $70 a barrel. Source: STV
Maritime Reporter March 2014 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

MAS Debuts Exclusive Armor Systems

Following on from the continued success of the product, Marine Armor System (MAS) announced its global launch and updated website. MAS is a nonlethal vessel

All Items Approved at Stolt-Nielsen Meeting

Stolt-Nielsen Limited announced that all agenda items were approved and all nominated directors were elected at its Annual General Meeting of shareholders held yesterday in Bermuda.

Petrobras, Mitsui Study South Brazil LNG Import Terminal

Brazil's state-run oil company Petroleo Brasileiro SA and Japanese trading house Mitsui Corp will study building a liquefied natural gas (LNG) terminal in the country's southernmost state,

Offshore

USCG: Deepwater Horizon Response is Far from Complete

The U.S. Coast Guard federal on-scene coordinator (FOSC) for the Deepwater Horizon Response completed the transition to the “Middle Response” (“Middle R”) process

Three European firms win Angola deepwater deals

Three European companies have won contracts for almost half the value of Angola's $16 billion ultra-deepwater Kaombo oil project, confirming a trend toward bigger

GoM Drill Rig Damaged, Coast Guard Monitoring

The U.S. Coast Guard (USCG) is overseeing response efforts, as the offshore drilling rig ENSCO 8506 began taking sea-water into a ballast tank after being hit by

 
 
Maritime Security Navigation Offshore Oil Pipelines Pod Propulsion Salvage Ship Electronics Shipbuilding / Vessel Construction Sonar Winch
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.1231 sec (8 req/sec)