WIRELINE Issue 32 - Summer 2015

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8 T H E M A G A Z I N E F O R T H E U K O F F S H O R E O I L A N D G A S I N D U S T R Y
10.
NEWS ROUND-UP OIL & GAS UK
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
11.
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
.
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
9.
Image
©iStock.com/mikeuk