WIRELINE Issue 32 - Summer 2015

NEWS ROUND-UP

OIL & GAS UK

9. CELEBRATING 50 YEARS OF OIL AND GAS EXPLORATION AND PRODUCTION Oil & Gas UK has commissioned an animation to celebrate 50 years of oil and gas exploration and production and promote the offshore oil and gas sector as a great industrial success story for Great Britain. The two-minute animation, launched at the Oil and Gas Industry Conference on 17 to 18 June, is available to its members as a useful and unbranded tool to introduce non-specialists to the industry. Oil & Gas UK would encourage industry to share the positive messages on social media so it can reach as wide an audience as possible. For more information, please contact Helen Jackson on hjackson@oilandgasuk.co.uk.

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Image © iStock.com/mikeuk

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10. UK WELL SERVICES CONTRACTORS REPORT STEADY BUT SLOWING DEMAND Demand for the expertise of well services contractors operating in UK waters remained steady last year, according to figures in Oil &Gas UK’s Well Services Contractors Report , which looks at how the sector fared in 2014. These companies, which support the UK offshore oil and gas industry throughout the life cycle of well operations, reported gross revenue of $3.24 billion (£1.97 billion) in 2014, representing a small increase of one per cent on the previous year. OonaghWerngren, Oil & Gas UK’s operations director, adds: “Throughout the first half of 2014, it was clear that well services contractors continued to benefit from the high level of investment in the UK Continental Shelf that occurred in 2013. In the latter half of last year, however, a number of companies reported a slow-down in the demand for their services and expect this trend to continue in 2015, with respondents predicting that the oil price fall will have a negative impact on drilling activity.” The report is available at http://bit.ly/wellservices2015

11. EXTRACTIVE INDUSTRIES TRANSPARENCY INITIATIVE: REPORTING TEMPLATES The independent administrator of the Extractive Industries Transparency Initiative (EITI) in the UK, Moore Stephens, will shortly issue reporting templates to collect data from oil, gas and mining companies quantifying their upstream tax payments to HMRC on a cash-paid basis for the 2014 calendar year. Companies will have six weeks to provide this information. They will also be asked to sign a waiver allowing HMRC to release confidential taxpayer information to Moore Stephens, which will allow the two data sets to be reconciled. The UK has until April 2016 to produce its first EITI report. For more information on EITI, visit http://bit.ly/UKeiti.

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