Dismantling the Oil Industry: Rough North Sea Waters Test New Ideas

By Shadia Nasralla LONDON, Nov 27 (Reuters) - Scottish marine salvage group Ardent is adapting the tanks it used to refloat the Costa Concordia, the cruise ship wrecked off the Italian coast in 2012, to decommission North Sea oil platforms. It is one of several companies trying new ideas to win business in the market for dismantling disused oil platforms. In … [Read more...]

BP Sees First Clair Ridge Oil Helping to Double North Sea Output

By Kelly Gilblom (Bloomberg) -- BP Plc has seen first oil from its giant Clair Ridge development in the North Sea, helping arrest decades of decline in a region where drillers have already produced most easy-to-reach resources. The project increases output from the broader Clair field, which started producing oil in 2005. Clair is by far the biggest oil field in … [Read more...]

Watch: 18,000-Tonne BorWin Gamma Platform Installed in North Sea

The 18,000 tonne topside of the BorWin gamma High Voltage Direct Current (HVDC) platform has been installed on its jacket foundation in the German sector of the North Sea, where will soon be used to supply green power to more than one million German households. The giant converter arrived on board the heavy lift vessel Xiang He Kou which was used in the float-over … [Read more...]

Chevron Quits Norway as Wider Retreat Looms From Aging North Sea

By Mikael Holter (Bloomberg) -- Chevron Corp. is selling its last remaining oil exploration license in Norway, putting it one step closer to a full retreat from the aging North Sea basin as the U.S. major seeks higher returns elsewhere. Chevron’s activity off Norway has been limited for years, but the company’s decision to relinquish its last asset in the country again shows … [Read more...]

Shell Greenlights Another Project in the North Sea After Lowering Costs

By Kelly Gilblom (Bloomberg) -- Royal Dutch Shell Plc approved its second North Sea project in six months, greenlighting a natural gas field that it considered uneconomical to produce from six years ago. The Anglo-Dutch major, along with partner Exxon Mobil Corp., plans to produce from two wells in the Fram field in the central North Sea by 2020. Deep cost cuts following … [Read more...]