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    1 Killed, 3 Injured in Oil Rig Explosion in Gulf of Mexico (Friday, 21 November 2014)

    1 Jan 1970, 12:00 am
    One person was killed and three others were injured in an explosion on an Oil Rig in the Gulf of Mexico yesterday according to the Bureau of Safety and Environmental Enforcement (BSEE).The explosion happened about 4 p.m. on board an oil rig roughly 12 miles off the coast of New Orleans.The three injured workers were undergoing treatment in a medical facility on the rig, said the BSEE. Their conditions weren't immediately released.The oil rig is owned by Houston-based Fieldwood Energy, which reported the explosion. The rig wasn't in production at the time of the explosion, said the BSEE.The damage was limited to the explosion area and no pollution was reported.It was unclear what caused the explosion. The BSEE was investigating.Source: Huffington Post

    UAE to Boost Oil Output in $70 Billion Investment Despite Falling Oil Price (Thursday, 20 November 2014)

    1 Jan 1970, 12:00 am
    Abu Dhabi: Suhail Bin Mohammad Faraj Faris Al Mazroui, Minister of Energy, has revealed that Abu Dhabi National Oil Company (ADNOC) has so far invested $70 billion (Dh257 billion) to develop new oil and gasfields and to boost the current output capacity of the UAE to 3.5 million barrels per day by 2017.“The Shah Gas Project is on track to commence production in 2014. ... The Abu Dhabi Company for Onshore Oil Operations (ADCO) is set to augment its oil production capacity from the current 1.4 million barrels per day (bpd) to 1.8 million bpd by 2017,” the minister said in an interview with the Emirates News Agency (WAM) on the eve of the three-day Abu Dhabi International Petroleum Exhibition and Conference (ADIPEC).On how the UAE will meet the exponential demand for gas required by industry, water and electricity projects, Al Mazroui said the UAE was planning a raft of projects under its national strategy to diversify the energy mix as the liquefied natural gas (LNG) production is enough to meet 50 per cent of the local demand while the remaining 50 per cent was imported.“We expect to develop new gasfields and launch new projects to import LNG. These projects include the awarding of a contract for the Emirates LNG project in Fujairah by the end of 2014 or early 2015.”Developed by the Abu Dhabi-based companies Mubadala Petroleum (Mubadala), the project, the largest of its kind in the region, was designed on the concept of land-based re-gasification and storage terminal with a total capacity of 9 million tonnes per year (t/y) of LNG.Speaking about the latest developments in the world oil market, the minister said the average oil prices that have been persisting over the past four years seemed balanced and suitable to both producers and consumers and could stimulate investment in output capacity in order to meet the growing demand.Answering a question about the threat that the shale oil could pose to conventional oil and gas industry, particularly to the Opec member states, the minister said, “We don’t see any potential threat of the shale oil usage as producers, given the high production cost of this fuel in comparison with that of the conventional oil. On the contrary, we think these new discoveries will help strike a balance in the supply-demand equation and in reaching a fair price in favour of producers.”On the possibility of the UAE’s import of shale gas from the US to satisfy its gas thirst, the Minister of Energy said, “The UAE is considering import of gas from several LNQ markets. However, we believe that our policy to diversify LNQ import markets will continue. As the shale gas remains one of our promising supply options, it could constitute a proportion of our gas import bill in the future.”Source: Gulf News

    $18.5 trillion needed in O+amp;G investment to meet future demand (Tuesday, 18 November 2014)

    1 Jan 1970, 12:00 am
    “The scale of the climate challenge requires us not only to ask how we can do more, but how we can achieve the most. Climate change doesn’t stop at borders – and neither should our solutions,” says Statoil CEO Eldar Sætre at the Statoil Autumn Conference.“We need a global approach that stimulates technology innovation,” Sætre continues.In the 2014 World Energy Outlook the International Energy Agency (IEA) presents “New Policies” as the main scenario. In this scenario global energy demand rises by 37% in the period to 2040.By 2040, the world’s energy supply mix divides into four almost-equal parts: oil, gas, coal and low-carbon sources.No matter which direction environmental policies and measures take, an enormous amount of oil and gas investment will still be needed in the years ahead to secure energy supply, according to the IEA.A full USD 18.5 trillion will be needed in oil and gas investment from 2014-2035 in order to meet the supply needed for the IEA’s “450 Scenario”, which sets out an energy pathway consistent with the goal of limiting the global increase in temperature to 2°C, Statoil says.“The challenge is formidable. Even in the IEA’s two-degree scenario, the industry must replace four times Saudi Arabia’s production of oil and 10 times Norway’s production of gas just to fight natural decline,” says Sætre.EU climate targetsThe European Union recently announced their target of cutting carbon emissions by 40% by 2030, which is, according to Statoil, in line with the company’s recommendations.“While the agreement is an important step in the right direction, now the job is to make sure that promises turn into policies, and ambitions into actions. If the EU’s ambitions are backed by efficient measures, it will underpin the role of gas in the European markets, replacing coal and reducing emissions,” Sætre says.Statoil is a strong advocate for a global approach towards a much higher carbon price—and has seen the results in action, the company said.Based on Norway having one of the world’s highest prices on carbon emissions, Statoil has the world’s most carbon-efficient oil and gas production.Statoil’s commitment and contribution to tackling climate change goes beyond advocacy for a high carbon price and the promotion of gas, Statoil said.“We are working to make our production more energy efficient. We are contributing as an industry and as a company to cuts in emissions as part of the Norwegian “Klimaforliket”. And we’re working to achieve more,” says Sætre.According to the company, Statoil remains focused on developing carbon capture and storage, and carbon capture and use, as part of the longer-term solution.Statoil and the entire oil industry have since the early 1990s had a commitment on the Norwegian continental shelf not to flare from routine operations.“Globally we are now also working collaboratively against flaring through the Global Gas Flaring Reduction Partnership,” says Sætre. This is a World Bank initiative aiming to eliminate global flaring by 2030.And at the UN Climate Summit in New York in September, Statoil and partners launched the Climate and Clean Air Coalition Oil and Gas partnership.This partnership aims to find effective solutions to detect and reduce methane emissions— which account for a significant, but underexposed share of greenhouse gas emissions.Energy needs in AfricaOne of the main focus areas of this year’s Autumn Conference and World Energy Outlook report is economic development, sustainability and energy needs in Africa—focusing particularly on the sub-Saharan regions.While almost 30% of global oil and gas discoveries have taken place in sub-Saharan Africa over the last five years, more than two-thirds of the population still lacks access to electricity.“Statoil has over the past few years made significant gas discoveries offshore Tanzania and we are excited about the opportunities we see for a natural gas and LNG development. We already experience that expectations to Statoil’s contributions are significant. Given that only around 15% of the population have access to the electrical grid, that is not difficult to understand,” says Sætre.The IEA report highlights three actions that—if accompanied by more general governance reforms— can boost the sub-Saharan economy by a further 30% in 2040: an upgraded power sector, deeper regional cooperation, and better management of energy resources and revenues through efficiency and transparency in financing.“Our strong presence comes with a big responsibility. This is about developing a sound, sustainable and profitable business that gives the government revenues necessary for economic growth and development. It is about contributing to local capacity building, and about contributing to openness and transparency,” says Sætre.Source: www.offshoreenergytoday.comPlease leave comments and feedback below

    Video Shows Aberdeen the Worlds Busiest Heliport (Tuesday, 18 November 2014)

    1 Jan 1970, 12:00 am
    NATS - The National Air Traffic Service has released a time lapse video showing a day of air traffic above the UK. The video includes a look at Aberdeen home to the worlds busiest heliport. The Video takes viewers on a flight above the UK covering all the major airports and significant air space and shows the countries hidden infrastructure that is the main flight paths over the UK. Aberdeen is home to three helicopter terminals dedicated to North Sea operations, used by Bristow Helicopters, CHC-Scotia and Bond Offshore Helicopters. There is also a small terminal adjacent to the main passenger terminal, Broomfield House used primarily for oil company charter flights to Scatsta in Shetland. With the discovery of North Sea Oil, Helicopter operations began in 1967, linking the growing number of oil rigs to the mainland. Today, Aberdeen International Airport handles more than 37,000 rotary wing movements carrying around 468,000 passengers annually. Helicopters account for almost half of all aircraft movements at the airport.

    Seadrill’s Liverpool move to create 90 jobs (Tuesday, 18 November 2014)

    1 Jan 1970, 12:00 am
    Seadrill, one of the world’s leading offshore deep-water drilling companies has chosen Liverpool for its new global service centre.The decision by New York Stock Exchange listed Seadrill was today described as a ‘major coup’ for the city and a significant boost to its offshore and maritime sector credentials. The move will create approximately 90 jobs in the city.Seadrill owns and operates 53 offshore drilling rigs, with 16 more in construction, and employs over 10,000 people representing over 75 nationalities working across five continents. It provides services to the oil and gas sector on a global scale.Operating in markets including Asia Pacific, Africa, Middle East, Europe and North and South America, Seadrill is relocating its service centre from Dubai from where a small number of jobs are transferring with new posts created in Liverpool. The decision to establish its service centre in Liverpool was driven by a number of factors.The CEO and President of Seadrill, Per Wullf said, “Owing to the global nature of our business, it was important that we positioned our service centre in a location within the GMT time zone. This allows us to work in Asia with the morning; Africa, the Middle East and Europe at lunch time; and the Americas in the afternoon.“Liverpool and the North West of England has excellent national and international transport links and a large talent pool to draw from. Add to these factors the city’s rich maritime heritage which has made it famous around the world, Liverpool adds up as the perfect location for us. We are delighted to be here and proud to add Liverpool to our list of office locations.”Seadrill has an agreement, subject to ratification, to lease the entire fifth floor of No1 Mann Island in the heart of Liverpool city centre, which will house staff from the business’s human resources, IT and finance functions.In addition to these key roles, a further series of administrative jobs will be created to support the business in its day-to-day global operation.Speaking at a specially convened press conference, Mayor of Liverpool Joe Anderson said: “I would personally like to welcome Seadrill to Liverpool. From a long list of different criteria, Seadrill has chosen Liverpool and chosen Liverpool on its merits.“It is exactly this type of inward investment and such high value employment opportunities which we are working very hard to bring to the city. This is a major coup and further evidence that we remain the natural choice for businesses in the maritime sectors.“We are sure that Seadrill will become an important and high profile part of the city’s and region’s business community.”Robert Hough, chair of the Liverpool City Region Local Enterprise Partnership, said: “Securing the global service centre for such a prestigious international maritime business as Seadrill is a fantastic investment for both the company and the City Region.“Liverpool delivers a vibrant, world class maritime location for a world class maritime business. Seadrill will create approximately 90 highly attractive jobs for our local talent pool and we look forward to forging a long and successful partnership with them as they continue their global growth.” It is expected that the new office will open in the first quarter of 2015 and become fully operational in the summer of 2015.Source: www.offshoreenergytoday.comPlease leave comments and feedback below

    Aker Solutions Cancels Christmas (Monday, 17 November 2014)

    1 Jan 1970, 12:00 am
    A Leading Oil and Gas Service company has cancelled Christmas parties for thousands of workers. Aker Solutions which employs 2000 people in Aberdeen has cancelled all festive parties to show "sympathy" with hundreds of colleagues in Norway who have been affected by cutbacks. The company is currently cutting costs by shedding jobs in Norway but has no immediate plans to shed jobs in Aberdeen where it says demand for its products and services was still high. A spokesperson for the company confirmed that Christmas celebrations across the company were being cancelled this year. Have your say below or contact the Oil and Gas People news desk if you have a story.

    Aberdeen second-best in the world for oil and gas workers (Monday, 17 November 2014)

    1 Jan 1970, 12:00 am
    ABERDEEN has been named as the second-best place in the world for workers in the oil and gas industry to live.Researchers found only Calgary in Canada was a better financial option for industry professionals. As well as a cheaper cost of living compared to other oil centres highlighted by the survey, tourism chiefs in the city highlighted other benefits of ­Aberdeen including its coastline, nearby countryside and world-class golfing. The study by Scottish oil and gas specialist recruitment firm PRG took into account average pay levels and cost of living when compiling the index.It said the oil and gas industry was going through an "incredible boom period" with an average salary of £56,000. Median pay is even higher for highly skilled ­engineers, with employees in the roles earning £66,000 annually, it said.It is argued the bumper salaries are worth more in Aberdeen, as it is cheaper than most other oil cities, many of which are major capital cities.Steve McCutcheon, chief ­executive of PRG, said: "Aberdeen is a very attractive place to live and work because although it may be expensive by UK standards, it isn't when compared to the other major oil and gas centres around the world."Add to that a booming North Sea sector and it becomes evident that Aberdeen is one of the major draws for experienced oil and gas professionals." In Aberdeen, a three-bedroom suburban home costs about £950 per month, compared to almost £1,400 in Dubai, £1,890 in Singapore and £2,850 in Luanda in Angola. In Paris such a property costs £883 and in Zurich £1,393, while in Norway's Stavanger it is £1,488. London the cost is £1,687.Oil workers in the Granite City can expect to pay about £56 for a three-course meal for two, according to PRG, compared to £66 in Zurich and £71 in Stavanger. In the French capital the cost is £43 and in Singapore £28. In Melbourne a meal costs £59, in Houston, Texas, only £33 and in Luanda, the Angolan capital, just £51.The average cost of a weekly shop for a family of three costs £90 in Aberdeen, the research said, compared to £137 in Zurich. However, the survey estimated that groceries in cities including London, Houston and Hong Kong were cheaper. Shopping in Singapore would cost £80 and in Angola, £83. In Hong Kong, shopping for the family each week would cost on average £70Calgary was rated as nine per cent cheaper than Aberdeen ­overall, with housing costing £881, a meal costing £38 and a weekly shop costing £85.When tax was taken into account, Dubai was judged among the cheapest cities. However, PRG said cultural and political implications in the area negated financial advantages.Full Article: Herald Scotland

    Halliburton Baker Hughes Merger Talks Stall (Saturday, 15 November 2014)

    1 Jan 1970, 12:00 am
    Merger talks between Halliburton and Baker Hughes stalled yesterday with the companies still haggling over price and divestiture concerns, people with knowledge of the matter said.Halliburton could make an unsolicited tender offer for Baker Hughes instead, and nominate a slate of directors to the target’s board, three of the people said, asking not to be identified discussing private information. Alternatively, the companies may still be able to revive the negotiations, one person said. Baker Hughes fell about 3% after the close of regular trading, to $58.10 a share as of 5:26 p.m. in New York. Halliburton fell to $54.53 after closing at $55.08 apiece. Baker Hughes, based in Houston, said yesterday that companies are in talks. Ahead of the disclosure, a person with knowledge of the matter had said a deal could come as soon as Monday. Since then, the two sides have become stuck on disagreements about the deal’s price and the billions of dollars in assets that would have to be sold for the deal to pass antitrust scrutiny, one of the people said. Combining the world’s second- and third-largest oilfield service providers will draw scrutiny from antitrust regulators. The companies may have to sell $7.5 billion to $10 billion in assets to address regulator concerns, two people said. They generated a combined $55.5 billion of sales in the twelve months through September, data compiled by news outlet Bloomberg show.If the deal went ahead it would create a company with 140,000 employees. Full Article: Bloomberg

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