Wireline - Summer 2017

Oil & Gas UK | News Round-Up

6. Extractive industries report shows commitment to transparency

More than 95 per cent of the UK oil and gas companies that were asked to provide information about their upstream tax payments in 2015 have done so as part of the global Extractive Industries Transparency Initiative (EITI). This demonstrates a high level of participation in a voluntary initiative. The UK Government launched its latest EITI report in Aberdeen at the end of March. It has now published two reports that reconcile the data provided by companies with information from HM Treasury on the payments it has received. The first was in April 2016.

Margot James MP, Parliamentary Under Secretary of State for Business, Energy and Industrial Strategy, addresses guests at the EITI report launch

Download the latest report at http://bit.ly/EITI17.

7. Sharing lessons to improve project delivery

Recommendations on how to improve project delivery on the UK Continental Shelf are outlined in a report released by the Oil and Gas Authority (OGA). Cost over-runs and delays were highlighted as the key barriers to success following analysis of 58 major projects executed over the past five years. Oil & Gas UK is working with the ECITB and other key industry stakeholders to develop new guidelines for robust project delivery that aims to share good practice across the sector. The guidelines are due to be published in 2018.

Get a copy of the OGA report at http://bit.ly/2qLrI8I.

An ECITB toolkit aims to promote and support collaboration in project delivery. Find out more at http://bit.ly/ECITBtoolkit.

Image © iStock.com/mikeuk

8. Simplifying subsea developments The potential of the UK Continental Shelf’s small pool reserves could be maximised by employing more cost-effective ways to create subsea developments, delivering savings of between 15 and 30 per cent. This is the key message of a set of Oil & Gas UK guidelines released under the auspices of the Efficiency Task Force (ETF). The publication is the culmination of extensive work by the ETF’s multi-disciplinary Subsea Standardisation Group, involving over 70 people and 30 companies and led by Steve Duthie and Guy Trumper of TechnipFMC. The group has demonstrated through real-life case studies how subsea developments could be simplified and standardised, bringing reserves into production more cost-effectively. Stephen Marcos Jones, director of business excellence at Oil & Gas UK, says: “This project is a shining example of what can be achieved when industry experts are given the licence to innovate, share knowledge and tackle project delivery with fresh eyes.”

Guidelines are free for members of Oil & Gas UK. Get your copy of the Subsea Standardisation Guidelines at http://bit.ly/SubApp17.

Also, see the Spring issue of Wireline for articles on simplifying subsea developments and halving well construction costs to improve the basin’s competitiveness at https://cld.bz/IBBsFhu/18.

Images courtesy of TechnipFMC

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