Saturday 30 May 2015
 
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Douglas-Westwood

Downstream maintenance costs likely to rise 12pc

Global downstream asset maintenance expenditure is expected to total $322 billion between 2015 and 2019, reflecting an increase of 12 per cent when compared to the previous five-year period, a report said. In 2014 spend totalled $

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US begins work on first offshore wind plant

The US recently began construction of its first offshore wind plant, a 30-megawatt (MW) farm consisting of five turbines, which is expected to start its operation in the fourth quarter (Q4) of 2016, a report said. The feasibility

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100,000 industry layoffs over oil price slump

Layoffs in the oil and gas industry are nearing 100,000 worldwide since oil price started declining late last summer, a report said. Oilfield service companies Schlumberger, Baker Hughes, and Halliburton announced layoffs of aroun

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100,000 industry layoffs over oil price slump

Layoffs in the oil and gas industry are nearing 100,000 worldwide since oil price started declining late last summer, a report said. Oilfield service companies Schlumberger, Baker Hughes, and Halliburton announced layoffs of aroun

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Deepwater spend to total $210bn by 2019

Deepwater expenditure is expected to increase by 69 per cent, compared to the preceding five-year period, totalling $210 billion from 2015 to 2019, a report said. As production from mature basins onshore and in shallow water decli

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UK offshore oil & gas – what next?

The low oil price is expected to dramatically impact O&G activity on the UK Continental Shelf (UKCS), resulting, most notably, in a decrease in the number of wells drilled, a report said. In 2014, drilling campaigns were signi

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Iran ‘overly optimistic about oil production’

Iran's Oil Minister Bijan Zanganah has boldly suggested that production could be boosted by 700,000 barrels per day within two months of sanctions being lifted. Yet there is growing consensus that this is exceptionally optimistic, a report s

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Big growth seen in oilfield services market

Global oilfield services (OFS) expenditure is forecast to increase 47 per cent from $354 billion in 2014 to $521 billion in 2018, a report said. The majority of global OFS spending occurs onshore, accounting for 79 per cent of the

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$24bn spend seen on offshore helicopter services

A total of $24 billion will be spent on offshore helicopter services between 2014 and 2018 – an increase of 57 per cent over the preceding five-year period, a report said. “Long-term production support contracts in Wes

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670,000 oil & gas wells ‘need to be drilled’

The world’s oil & gas sector will need to drill more than 670,000 wells from 2014 through 2020 to meet forecasts of sector demand, according to a new report from leading energy business research firm Douglas-Westwood (DW).

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