Oil and gas exploration in 2016 ‘fell to nine-year lows’

Oil and gas exploration in 2016 fell to nine-year lows, in terms of both wells drilled and discoveries made. That’s according to a new report from Westwood Global Energy Group, which also suggests a brighter outlook for the industry can be expected in the coming years as improved exploration efficiencies start to deliver results. It says last year’s […]

Canadian services firm buys into UK oil & gas

A Canadian mining and energy services company has bought a British oil and gas firm. Hatch has bought the employee-owned g3baxi partnership (g3) in a transaction which it says will enhance the skills and expertise of both companies and improve project delivery over the short, medium and long term. g3 has extensive knowledge and understanding of upstream facilities, […]

OGA awards two new UKCS study contracts

Two new contracts to update seismic mapping for oil and gas exploration off the UK coast have been awarded. The work, which will focus around the East Shetland Platform and South West Approaches has been offered by the Oil and Gas Authority (OGA) as part of the 21st Century Exploration Road Map (21CXRM) initiative. The South West […]

Half of oil & gas professionals expect to diversify business

Half of senior oil and gas professionals expect their businesses to diversify into opportunities outside the industry. That’s according to a new survey of 723 industry leaders by DNV GL, the technical advisor to the sector, which states oil and gas firms are seeking to widen and rebalance their asset portfolios to secure long term […]

Worst losses ‘in decades’ for UK offshore oil, gas

The UK offshore oil and gas industry has seen its worst yearly performance for four decades. Industry body Oil & Gas UK said the sector has been badly hit as a result of rising costs, taxes and “inadequate regulation”. According to its latest report, the industry spent and invested £5.3 billion more than it earned from sales […]

North Sea helicopter crash investigation ongoing

An investigation into what caused a helicopter to crash in the North Sea – which killed four oil workers – on Friday is ongoing. The aircraft’s operator CHC said the Super Puma AS332-L2 helicopter was carrying 16 passengers and two crew members from the Borgsten Dolphin rig to Sumburgh airport in Shetland when it crashed […]