Barnacle Field Environmental Statement Licence P.2460 (UKCS)
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Statfjord: Norway's Drive to Maximise Recovery Rates from Her Mature Fields
Statfjord: Norway’s drive to maximise recovery rates from her mature fields In the oil and gas industry today, 70 per cent of the world's oil reserves are located in mature fields – assets where production has reached its peak and has started to decline. As things stand that accounts for in excess of 63 million barrels-worth of oil production per day. Nowhere are the challenges presented by mature fields more acutely felt than on the Norwegian Continental Shelf (NCS), where the majority of the 69 fields in production today are classified as mature. In 2001, production on the NCS reached a peak of 3.4 million barrels per day. As of January 2013, Norwegian assets were producing only 1.4 million barrels of oil per day – roughly a 5 per cent year-on-year decrease over a 12 year period. Oil hunger Norway is reliant on and addicted to oil. The marginal tax rate on net profits within the petroleum sector is 78 per cent and in 2012, 30 per cent of total State revenue was derived from the hydrocarbon industry. In Q2 2013, crude oil and natural gas accounted for 41 per cent of all Norwegian exports and 35 per cent of the growth in Norway’s economy could be directly attributed to oil activity. The country’s oil fund is the world’s largest at NOK 4.52 trillion ($750 billion) and is set to grow by a further 50 per cent by 2020. The oil and gas industry dwarfs every other sector in the national economy. -
Russian Oil and Gas Challenges
Order Code RL33212 Russian Oil and Gas Challenges Updated June 20, 2007 Robert Pirog Specialist in Energy Economics and Policy Resources, Science, and Industry Division Russian Oil and Gas Challenges Summary Russia is a major player in world energy markets. It has more proven natural gas reserves than any other country, is among the top ten in proven oil reserves, is the largest exporter of natural gas, the second largest oil exporter, and the third largest energy consumer. Energy exports have been a major driver of Russia’s economic growth over the last five years, as Russian oil production has risen strongly and world oil prices have been very high. This type of growth has made the Russian economy dependent on oil and natural gas exports and vulnerable to fluctuations in oil prices. The Russian government has moved to take control of the country’s energy supplies. It broke up the previously large energy company Yukos and acquired its main oil production subsidiary. The Duma voted to give Gazprom, the state- controlled natural gas monopoly the exclusive right to export natural gas; Russia moved to limit participation by foreign companies in oil and gas production and Gazprom gained majority control of the Sakhalin energy projects. Russia has agreed with Germany to supply Germany and, eventually, the UK by building a natural gas pipeline under the Baltic Sea, bypassing Ukraine and Poland. In late 2006 and early 2007, Russia cut off and/or threatened to cut off gas or oil supplies going to and/or through Ukraine, Moldova, Georgia, and Belarus in the context of price and/or transit negotiations — actions that damaged its reputation as a reliable energy supplier. -
The Development of the Norwegian Petroleum Innovation System: a Historical Overview
The development of the Norwegian Petroleum Innovation System: A historical overview Ole Andreas H. Engen University of Stavanger Correspondence: [email protected] Abstract This paper addresses the development of the Norwegian Petroleum Innovation System. The characteristics of the Norwegian Petroleum Innovation System were on the one hand the increasing ability to solve bottlenecks connected to production and operation on the Norwegian shelf, and on the other a gradual learning process which enabled a large portion of Norwegian participation in the petroleum business. While the initial phase of the petroleum development of Norway in the sixties was characterised by an absorptive capacity of receiving new technology, the building of Norwegian competence in the seventies and eighties was in certain respects directly shaped by public policy in order to participate. With the Condeep design it became possible to speak of an independent Norwegian petroleum industry. The development of Norwegian producer and supplier companies signified that petroleum activity in Norway was entering a new phase. In the R&D System of Norway petroleum education and research were introduced at several levels. Due to new cost efficient technologies introduced in the nineties, we may say that the adjustment was concluded by the beginning of 21st century. The Norwegian oil and gas actors perceived themselves ready to fully participate in the international system of energy producers. Version of 06.08.2007 TIK Working paper on Innovation Studies No. 20070605 *This paper is part of the project "Innovation, Path-dependency and Policy" (IPP) carried out at the Centre for Technology, Innovation Culture (TIK), University of Oslo with the support of the Norwegian Research Council (Contract no. -
2016 EITI Report
Contents List of Abbreviations ......................................................................................................................6 Executive Summary........................................................................................................................8 1. EITI in Iraq .............................................................................................................................. 14 1.1. About the Extractive Industries Transparency Initiative (EITI) ................................... 14 1.2. EITI Implementation in Iraq .................................................................................................. 14 1.3. EITI Governance and leadership in Iraq (Requirement 1.1 – 1.3) ................................ 16 1.4. MSG Governance (Requirement 1.4) .................................................................................. 17 1.5. MSG Workplan (Requirement 1.5) ....................................................................................... 18 2. Legal Framework and Fiscal Regime for the Extractive Industries (Requirement 2.1) . 20 2.1. National Governance Structures ......................................................................................... 20 2.2. Overview of the regulations applicable to extractive industries ................................. 21 2.2.1. Extractive sector regulations in federal Iraq ........................................................................ 21 2.2.2. Overview of the corporate income tax and withholding tax regimes applicable -
Enquest Announces the Appointment of Neil Mcculloch As Head of Its North Sea Business
ENQUEST ANNOUNCES THE APPOINTMENT OF NEIL MCCULLOCH AS HEAD OF ITS NORTH SEA BUSINESS EnQuest PLC is pleased to announce the appointment of Neil McCulloch as President, North Sea, with effect from 1 April 2014. Neil has held a number of senior positions in the oil and gas sector, and joins EnQuest from international oil and gas company OMV AG, where he held the global role of Senior Vice President Production & Engineering. Prior to this, Neil spent 11 years with BG Group in a range of senior UK and international roles, most recently as Vice President & Asset General Manager, UK Upstream, with accountability for the delivery of BG’s UK North Sea business. Neil will succeed David Heslop, who retires from his role as Managing Director UKCS on 1 April 2014. Thereafter David will continue to support EnQuest in an advisory capacity or on special projects. Amjad Bseisu, Chief Executive of EnQuest said: “I am delighted to welcome Neil as head of our North Sea business. With his wealth of technical and management experience in the oil and gas industry and in the UK North Sea in particular, I am confident that Neil will be an excellent member of EnQuest’s senior management team and will make a valuable contribution to the growth and development of EnQuest over the coming years. “The Board and I would also like to express our sincere gratitude to David for his contribution to EnQuest in our formative years; his leadership, knowledge and experience have been key to many of EnQuest’s successes and achievements, and have helped us to build a world class organisation in Aberdeen. -
Norwegian Petroleum Technology a Success Story ISBN 82-7719-051-4 Printing: 2005
Norwegian Academy of Technological Sciences Offshore Media Group Norwegian Petroleum Technology A success story ISBN 82-7719-051-4 Printing: 2005 Publisher: Norwegian Academy of Technological Sciences (NTVA) in co-operation with Offshore Media Group and INTSOK. Editor: Helge Keilen Journalists: Åse Pauline Thirud Stein Arve Tjelta Webproducer: Erlend Keilen Graphic production: Merkur-Trykk AS Norwegian Academy of Technological Sciences (NTVA) is an independent academy. The objectives of the academy are to: – promote research, education and development within the technological and natural sciences – stimulate international co-operation within the fields of technology and related fields – promote understanding of technology and natural sciences among authorities and the public to the benefit of the Norwegian society and industrial progress in Norway. Offshore Media Group (OMG) is an independent publishing house specialising in oil and energy. OMG was established in 1982 and publishes the magazine Offshore & Energy, two daily news services (www.offshore.no and www.oilport.net) and arranges several petro- leum and energy based conferences. The entire content of this book can be downloaded from www.oilport.net. No part of this publication may be reproduced in any form, in electronic retrieval systems or otherwise, without the prior written permission of the publisher. Publisher address: NTVA Lerchendahl gaard, NO-7491 TRONDHEIM, Norway. Tel: + (47) 73595463 Fax: + (47) 73590830 e-mail: [email protected] Front page illustration: FMC Technologies. Preface In many ways, the Norwegian petroleum industry is an eco- passing $ 160 billion, and political leaders in resource rich nomic and technological fairy tale. In the course of a little oil countries are looking to Norway for inspiration and more than 30 years Norway has developed a petroleum guidance. -
Statfjord Area
This book is a work of reference which provides an easily understandable Oil and gas fields in n survey of all the areas, fields and installations on the Norwegian continental shelf. It also describes developments in these waters since the 1960s, Oil and gas fields including why Norway was able to become an oil nation, the role of government and the rapid technological progress made. In addition, the book serves as an industrial heritage plan for the oil in nOrway and gas industry. This provides the basis for prioritising offshore installations worth designating as national monuments and which should be documented. industrial heritage plan The book will help to raise awareness of the oil industry as industrial heritage and the management of these assets. Harald Tønnesen (b 1947) is curator of the O Norwegian Petroleum Museum. rway rway With an engineering degree from the University of Newcastle-upon- Tyne, he has broad experience in the petroleum industry. He began his career at Robertson Radio i Elektro before moving to ndustrial Rogaland Research, and was head of research at Esso Norge AS before joining the museum. h eritage plan Gunleiv Hadland (b 1971) is a researcher at the Norwegian Petroleum Museum. He has an MA, majoring in history, from the University of Bergen and wrote his thesis on hydropower ????????? development and nature conser- Photo: Øyvind Hagen/Statoil vation. He has earlier worked on projects for the Norwegian Museum of Science and Technology, the ????????? Norwegian Water Resources and Photo: Øyvind Hagen/Statoil Energy Directorate (NVE) and others. 175 ThE sTaTFjORD aREa The Statfjord area lies in some 150 metres of water and embraces the Statfjord, Statfjord East, Statfjord North, Sygna and Murchison fields. -
Towards a Policy Framework for Iraq's Petroleum Industry and An
Towards a Policy Framework for Iraq’s Petroleum Industry and an Integrated Federal Energy Strategy Submitted by Luay Jawad al-Khatteeb To the University of Exeter As a thesis for the degree of Doctor of Philosophy in Middle East Politics In January 2017 The thesis is available for Library use on the understanding that it is copyright material and that no quotation from the thesis may be published without proper acknowledgment. I certify that all material in this thesis which is not my own work has been identified and that no material has previously been submitted and approved for the award of a degree by this or any other University. Signature ......................................................... i Abstract: The “Policy Framework for Iraq’s Petroleum Industry” is a logical structure that establishes the rules to guide decisions and manage processes to achieve economically efficient outcomes within the energy sector. It divides policy applications between regulatory and regulated practices, and defines the governance of the public sector across the petroleum industry and relevant energy portfolios. In many “Rentier States” where countries depend on a single source of income such as oil revenues, overlapping powers of authority within the public sector between policy makers and operators has led to significant conflicts of interest that have resulted in the mismanagement of resources and revenues, corruption, failed strategies and the ultimate failure of the system. Some countries have succeeded in identifying areas for progressive reform, whilst others failed due to various reasons discussed in this thesis. Iraq fits into the category of a country that has failed to implement reform and has become a classic case of a rentier state. -
Offshore Wind Operations & Maintenance a £9 Billion Per
OFFSHORE WIND OPERATIONS & MAINTENANCE A £9 BILLION PER YEAR OPPORTUNITY BY 2O3O FOR THE UK TO SEIZE OPERATIONS & MAINTENANCE SUMMARY New data compiled by the Offshore Renewable Energy (ORE) Catapult reveals the UK offshore wind operations & maintenance (O&M) market will grow faster in relative terms than any other offshore wind sub sector market over the next decade. By 2O3O, it will be the UK’s second largest sub sector market after turbine supply: a projected £1.3 billion per year opportunity. The Rest of the World (excluding UK) offshore wind O&M market opportunity is even greater. We project it will be valued at £7.6 billion per year by 2030. To discuss commercial dynamics in offshore wind O&M, we conducted an interview with energy industry leader Sir Ian Wood, which is summarised below. His comments highlight that offshore wind O&M is an area that plays to the UK’s existing strengths in offshore oil and gas services and associated technologies. O&M already has the highest level of UK content of any part of the offshore wind supply chain. In short, there is a sizable opportunity for the UK to create internationally significant service businesses in offshore wind O&M, learning from experience from the North Sea oil and gas industry. We already have the vital elements to capture this opportunity but investment in infrastructure to create the environment for collaborative development and demonstration of the enabling technologies and services is required. DEFINING OFFSHORE WIND O&M A clear definition of offshore wind O&M comes from a report published by GL Garrad Hassan: Offshore wind O&M is the activity that follows commissioning to ensure the safe and economic running of the project. -
Unique UK's Licensing Policy Favours the State Than
1216-2574 / USD 20.00 ACTA JURIDICA HUNGARICA © 2013 Akadémiai Kiadó, Budapest 54, No 2, pp. 200–204 (2013) DOI: 10.1556/AJur.54.2013.2.6 MARY SABINA PETERS*−MANU KUMAR** Unique UK’s Licensing Policy Favours the State than the Industry: Contradicting Conventional Wisdom Introduction The world petroleum industry is globally interdependent. International oil companies tend to compare investment opportunities worldwide and pursue global strategies: investment opportunities compete with each other and fashion tends to possess world’s oil companies.1 Under such circumstances the role of the state acting as the regulator is of paramount importance especially where the oil and gas industry is a countries key industry.2 In the United Kingdom the government has proprietary rights to the petroleum reserves but they lack capacity to carry out technical tasks as drilling wells and laying pipelines.3 Consequently, the Governments is compelled to turn to private companies who hold most of the fi nancial and technical means needed for the exploration and exploitation of petroleum resources.4 In the United Kingdom, this symbiotic relationship is given effect through the petroleum licensing mechanism. This paper brings to light the various features of the UK licensing regime consequently bringing to light how this regime is favourable to the state than the industries, by laying emphasis on the proprietary rights to the petroleum revenue which vest in the UK through its governing legislations. Legislation The legislative framework for oil and gas exploration and production activities in the North Sea is as originally established by the Petroleum (Production) Act 1934 for onshore activities, subsequently extended to the UK continental shelf by the Continental Shelf Act 1964 and ultimately consolidated by Part I of the Petroleum Act 1998. -
Transparency DIRECTORATE NATIONAL
Public Disclosure Authorized Major Lessons from My Career By Farouk Al-Kasim Public Disclosure Authorized Public Disclosure Authorized Public Disclosure Authorized 1. Why Not Work Together? 2. The Importance of Resource Assessment 3. Input to Norway’s Approach 4. Sector Organization 5. Institutional Integrity 6. Developing Competencies and Capacity 7. Win-win Approach to Resource Management 8. Joint Research to Reduce Risk 9. Transparency 10. Revenue Management 11. Petroleum Linkage to Total Governance 1 Why Not Work Together? 2 Why not work together? >> After graduation in 1957, I joined the Iraq Petroleum Company 1(IPC), which was the operator for an incorporated consortium comprising BP, Royal Dutch Shell, ExxonMobil, Total, and Partex. >> From 1957 to 1972, I followed the bitter negotiations between the Iraqi government and the IPC. I wondered why they could not agree. I was convinced they needed each other, but they simply could not find the way to work together. >> This made me wonder if there was a way for oil companies and governments to work together, rather than waste so much time and energy in conflict. There must be a way! 3 Norway offered a unique opportunity >> On the very first day I arrived in Norway in 1968, I walked to the Ministry of 2Industry in Oslo. I desperately needed a job, and the ministry needed somebody who knew how to assess exploration results. In 1965, Norway had licensed 78 blocks in the North Sea. The government made it clear that international oil companies (IOCs) were needed in Norway. >> Norwegians, however, were skeptical about petroleum operations in the North Sea. -
Prospective Decommissioning Activity and Infrastructure Availability in the UKCS
NORTH SEA STUDY OCCASIONAL PAPER No. 122 Prospective Decommissioning Activity and Infrastructure Availability in the UKCS Professor Alexander G. Kemp and Linda Stephen October, 2011 DEPARTMENT OF ECONOMICS ISSN 0143-022X NORTH SEA ECONOMICS Research in North Sea Economics has been conducted in the Economics Department since 1973. The present and likely future effects of oil and gas developments on the Scottish economy formed the subject of a long term study undertaken for the Scottish Office. The final report of this study, The Economic Impact of North Sea Oil on Scotland, was published by HMSO in 1978. In more recent years further work has been done on the impact of oil on local economies and on the barriers to entry and characteristics of the supply companies in the offshore oil industry. The second and longer lasting theme of research has been an analysis of licensing and fiscal regimes applied to petroleum exploitation. Work in this field was initially financed by a major firm of accountants, by British Petroleum, and subsequently by the Shell Grants Committee. Much of this work has involved analysis of fiscal systems in other oil producing countries including Australia, Canada, the United States, Indonesia, Egypt, Nigeria and Malaysia. Because of the continuing interest in the UK fiscal system many papers have been produced on the effects of this regime. From 1985 to 1987 the Economic and Social Science Research Council financed research on the relationship between oil companies and Governments in the UK, Norway, Denmark and The Netherlands. A main part of this work involved the construction of Monte Carlo simulation models which have been employed to measure the extents to which fiscal systems share in exploration and development risks.