New Floating Wind Center Launched
Welsh Government, the Celtic Sea Cluster, Opportunity North East (ONE), the Oil and Gas Technology Center (OGTC), the Deepwind Offshore Wind Cluster, Scottish Enterprise, Cornwall & Isles of Scilly Local Enterprise Partnership, Highlands and Islands Enterprise and Crown Estate Scotland.”Sir Ian Wood KT, GBE, Chairman of Opportunity North East said, “With more offshore installations than any other country, the world’s largest floating wind farm and plans for a seven-fold increase in capacity, this is a very exciting time for our offshore wind sector. And the new Floating Wind Center
Energy Firms Partner to Cut Costs in the North Sea
gas industry.” Deirdre Michie, Oil & Gas UK’s chief executive, commented, “Oil & Gas UK welcomes the agreement between Petrofac, Faroe Petroleum and Eni Hewett to share resources as it is a great example of ‘cooperation in action’. If we're to fulfil Sir Ian Wood's vision to maximize economic recovery from the UK Continental Shelf (UKCS), co-operation is crucial in restoring competitiveness. We are now hearing examples up and down the country of companies finding ways to work together in order to revitalize the UKCS. “To build on the work
Deloitte : Investment Crucial for UKCS
. The report found that 40 wells were drilled offshore UK throughout the year. This is down on the 50 wells reported in 2013 but largely consistent with expectations given recent trends and market conditions. Following broad acceptance by government and industry of the recommendations made in Sir Ian Wood’s “UKCS Maximising Recovery Review”, subsequent changes have included adjustments to the North Sea’s tax regime and the establishment of a new industry regulator, the Oil and Gas Authority (OGA). Graham Sadler, managing director of Deloitte’s Petroleum Services Group
Strategy Can Maximize UKCS potential
Companies operating in the North Sea require a cultural shift to make the most of the its potential, according to a new report from Deloitte, the business advisory firm. The report, which gauges the oil and gas industry’s reaction to Sir Ian Wood’s Maximising Recovery Review, calls on the new regulator – the Oil and Gas Authority (OGA), the Government and companies operating in the North Sea to adapt to a new reality in the basin. Overall, the research found respondents: Supported a strong new regulator which can demonstrate focus and influence; Wanted HM Treasury to
Hydro Group: Invest in the Future
shows a clear commitment to the next generation of employees Figures published earlier this year show that Scotland’s current levels of youth unemployment (16-24-year-olds) is at 853,000 – 18.8 percent – more than double that of the average age working population. According to Sir Ian Woods’s new report, Scotland's vocational education system must be improved if youth unemployment is to fall. He launched the report aimed at getting more young Scots into work recommending that employers play a far bigger role in schools and colleges. One company that prides itself on committing
Britain Oil Review: New Regulator Needed to Lift Output
whose major North Sea operators include BP, Statoil and Shell, is expected to foot the bill for the new regulator which the government said will be set up immediately. "I believe industry will have to pay, but in return should be granted appropriate service level agreements," said Sir Ian Wood, author of the report and former chairman of oil services company Wood Group, without providing figures. Government revenues from North Sea production fell more than 40 percent to 4.7 billion pounds in 2012-13, underlining the sector's importance to Britain's economic recovery. The new
New Report: North Sea Oil Gushes, Less Interest in UK Continental Shelf
within their global portfolios. Any longer-term decline in exploration and appraisal drilling will be of concern and there are measures that seriously need to be considered by industry and government to reinvigorate drilling activity and ensure the longevity of the UKCS." In 2013 Sir Ian Wood published an interim report: 'The UKCS Maximising Recovery Review' into how to secure the long-term future of the UKCS, which made a number of recommendations on how to ensure continued investment in the area. The full report is expected this week, add Deloitte. For more information: www.deloitte
RGU Announces New Oil and Gas Institute
. We are keen that Aberdeen’s oil and gas community supports us in this important new initiative, and I am delighted to announce the first significant donation - £500,000 from the Wood Family Trust to our Foundation for the new Institute.” Chairman of Wood Family Trust, Sir Ian Wood, who was present at the launch event said, “It is essential for both the UK and Aberdeen’s future growth and prosperity that we maximize recovery of our offshore oil and gas resource. The creation of RGU’s new Oil and Gas Institute will provide an important focus for the sector
UK Offshore Energy Sector Needs Regulating, Says New Report
of oil have already been produced from the UK Continental Shelf, but production is declining. Improving the way the UK's offshore oil and gas industry is regulated could boost the economy by £200bn over the next 20 years, according to a new government-commmissioned report by retired oil tycoon Sir Ian Wood, reports BBC Scotland. The current regulator, which is situated within the Department of Energy and Climate Change (DECC), is now significantly under resourced and far too thinly spread to effectively manage the increasingly complex business and operating environment, Sir Ian finds in his report
February 2024
