Offshore oil, gas decommissioning to grow steadily in UK and Norway

Offshore oil and gas decommissioning in the UK and Norway is expected to rise “gradually but steadily” in the next 10 years. That’s the forecast made by Oil and Gas UK in its latest report. It states 100 platforms are expected to be completely or partially removed from the UK and Norwegian Continental Shelves during the […]

UK oil and gas production increases but exploration falls

Production of oil and gas in the UK increased by 10.4% last year for the first time in 15 years. That was due to a series of new projects in the North Sea as well as development of technological innovations to maximise extraction from existing fields, according to Oil & Gas UK’s latest report. However, the industry […]

UK oil and gas job losses ‘to reach 120,000’

The number of jobs lost due to the downturn in the oil and gas industry in the UK could reach 120,000 by the end of 2016. Jobs fell by an estimated 84,000 to around 370,000 last year and are forecast to reduce by a further 40,000 by the end of this year, new figures released […]

Oil & Gas UK warns investment ‘collapsing’

Investment in new oil and gas projects in the North Sea is “collapsing”, according to a new report. Oil & Gas UK said the industry is expected to approve less than £1 billion of spending on new projects in comparison to a “typical” £8 billion a year in the last five years. It adds exploration […]

North Sea oil and gas output up in 15 years

Oil and gas production in the North Sea rose for the first time in 15 years despite the fall in prices. Production was up 8.6% in the first 10 months last year compared to 2014, with liquids rising 10.6% and gas 6.1%. Year-end production for the full year of 2015 is estimated to be up […]

New task force to boost efficiency in the North Sea

A new task force to boost efficiency in the North Sea has been launched. The Efficiency Task Force (ETF) aims to make the oil and gas sector more competitive and increase economy recovery at the UK Continental Shelf. Oil & Gas UK is leading the task force which will focus on delivering “behavioural change” to compete with […]

How depressing – price drop prompts oil and gas pessimism

Falling oil prices have really got under the skin of oil and gas explorers in the UK, suggests the latest mood test from an industry trade body. It’s the first time Oil & Gas UK’s index has moved into “negative territory” since 2009. A fall of nine points on the index – which goes between […]

UK needs £1,000bn to tap North Sea oil and gas

More than £1,000 billion needs to be spent if the UK is to fully tap the oil and gas lying under the North Sea. Trade body Oil & Gas UK released its forecast this week, saying the cash is needed to get out the “upper end of our remaining resources, that is above 20 billion […]

Optimism “falling” in UK oil and gas business

The optimism of businesses in the UK oil and gas sector continues to fall suggests a new Business Sentiment Index. Published yesterday (August 6) by trade body Oil & Gas UK, it looks at economic indicators including business confidence, activity levels, business revenue, investment and employment, for the second quarter of the 2014. Though there […]

More young people working on offshore oil rigs

More people in their twenties are working on offshore oil and gas rigs, show new figures released this week. Workers aged 24-29 jumped nearly 15% while the total number of people travelling offshore rose to 61,892, an increase of 8.6% in 2013 compared with the year before. Dr Alix Thom, employment and skills issues manager […]