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Malcolm Webb News

24 Feb 2015

UK North Sea Investments to Halve

Investment in British North Sea projects is expected to fall below 8 billion pounds ($12.35 billion) in 2016 from 14.8 billion last year, and could shrink further due to a rise in costs and fall in prices, industry lobby group Oil & Gas UK said in an annual survey on Tuesday. Falling investment means much of Britain's remaining oil reserves will not be extracted, said Malcolm Webb, chief executive of Oil & Gas UK, casting doubt on a North Sea revival which the government hopes will help fill its coffers. "Without sustained investment in new and existing fields, critical infrastructure will disappear, taking with it important North Sea hubs, effectively sterilising areas of the basin and leaving oil and gas in the ground," Webb said.

24 Mar 2014

“Shale Gas Needed to Reduce UK Gas Imports”

Speakers set to fuel energy debate at Unconventional Gas Aberdeen 2014. Leading figures from industry and government speaking at Unconventional Gas Aberdeen 2014 will tomorrow highlight the impact U.K. shale development could have on reducing costly gas imports but admit that more needs to be done to reassure communities on aspects such as fracking. With more than 50 percent of U.K. gas supplies now coming from imports, predominantly from Norway and the Middle East, shale gas is being promoted as part of the solution in creating a secure and affordable energy mix.

27 Feb 2014

UK Needs to Explore for New North Sea Oil & Gas

File photo CCL

In its annual Activity Survey for 2014, trade association Oil & Gas UK says only 15 exploration wells were drilled in 2013, according to figures from the Department of Energy & Climate Change (DECC), continuing a steep downward trend. Exploration over the past three years has been at its lowest in the history of the UK Continental Shelf (UKCS) and in 2013 replaced just 80 million barrels. Oil & Gas UK chief executive, Malcolm Webb, reflects widespread concern on exploration: “Even if currently planned wells proceed…

24 Feb 2014

Britain Oil Review: New Regulator Needed to Lift Output

Britain urgently needs its oil and gas companies to pay for a new regulatory body to encourage industry collaboration and counter plunging North Sea production rates, a government review, the first since the mid-1990s, said on Monday. Britain's oil and gas output has fallen about two thirds since its peak at the turn of the century, but reforms could lead to 200 billion pounds ($330 billion) worth of extra oil and gas being extracted, the government said. The North Sea is thought to contain billions of barrels of hard-to-reach oil but with many platforms and pipelines coming to the end of their working lives, time is fast running out to get at them. The review's task was outlining how to make that easier.

03 Oct 2013

Offshore Achievement Awards Open for Entries

L-R SPE Aberdeen chairman Anthony Onukwu; Ian Phillips, SPE board member responsible for organizing the OAAs; and Pete Jones of principal sponsor TAQA

The Society of Petroleum Engineers (SPE) Aberdeen Section has announced that entries are now open for the 2014 Offshore Achievement Awards. The awards, which are hosted by SPE Aberdeen with the support of principal sponsor TAQA, have recognized outstanding success and innovation in the oil and gas sector for over 27 years. Last year’s awards ceremony attracted a record attendance of more than 530 industry professionals. This year SPE Aberdeen has introduced two new categories, the Inspiring Leader and the Environmentalist awards.

22 Jul 2013

Magma Products Opens Aberdeen Office

Malcolm Webb (right), Oil & Gas UK chief executive, officially opens Magma Products’ new Aberdeen office, with the company’s managing director, Paul Rushton.

Oil & Gas UK chief executive, Malcolm Webb, has officially opened the new Aberdeen offices of oil and gas consultancy Magma Products. Magma, which provides specialist offshore commissioning and start-up services, has grown from a business employing six people in 2011 to one with an 85-strong team today. It has moved from small city centre premises to its new offices at The Spires Business Park, just off Mugiemoss Road. They can accommodate around 60 people, with many Magma personnel based on site at client projects.

14 Jun 2013

DNV Calls For More Transparency and Better Preparation

DNV is urging the global oil and gas industry to strengthen its focus on safety risk analysis and be better prepared for incidents ahead of the Piper 25 conference. The organization will present two papers at the conference, which is a special three day event taking place at the AECC in Aberdeen from June 18-20 and will be chaired by Oil & Gas UK chief executive, Malcolm Webb. It is aimed at bringing together people from across the oil and gas industry to reflect on the lessons learnt from the tragedy of 25 years, review how far offshore safety has evolved since and to reinforce industry commitment to continuous improvement. A high turnout is expected to attend the commemorative event.

22 Mar 2013

Industry Talent Recognized in the Offshore Achievement Awards

The offshore industry’s highest achievers were recognized at the 2013 Offshore Achievement Awards, with Malcolm Webb, chief executive of Oil & Gas UK, picking up the Significant Achievement accolade. The 27th awards ceremony, which saw a record attendance of 530 guests, took place at the Aberdeen Exhibition & Conference Centre and was hosted by Scottish comedian Kevin Bridges. The industry’s top talent was celebrated in categories which included Great Large and Great Small Company, Safety Innovations and Emerging Technology.

26 Feb 2013

UK Offshore Oil & Gas Sector: Investment Hits 30-year High

Tax changes to encourage growth in the UK oil & gas sector have led the industry to make its highest investment for more than 30 years. According to the recently published Oil & Gas UK, 2013 Activity Survey, thousands of jobs are now being created across Britain and the production of UK oil and gas and resulting tax revenues can now confidently be expected to rise over the coming years. The Activity Survey shows a diverse mix of investment, ranging from projects of less than £50 million through to some of over a billion pounds, in total soaring to £11.4 billion in 2012. This is now expected to rise even further to at least £13 billion in 2013. Investments totalling almost £100 billion are now in companies’ plans.

23 Mar 2009

UK Oil, Gas Exploration Faces Collapse

According to a March 19 report from Dow Jones & Company, Inc., investment and exploration in the U.K. North Sea oil and gas basin could collapse this year because of high costs and a funding drought, said the head of the country's oil and gas industry lobby. Investment could have halved within two years and exploration and appraisal of new reserves in 2009 could fall to a third of the 2008 level, Oil and Gas U.K. Chief Executive Malcolm Webb told a special session of the U.K. parliament's Energy and Climate Change Committee in Aberdeen, Scotland. (Source Dow Jones & Company, Inc.)