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Wood Group looking to woo North Sea newcomers

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Wood Group’s boss said today that the firm was hoping to do business with new entrants to the North Sea. Robin Watson, Wood Group chief executive, also said the Aberdeen energy service giant was well positioned to win decommissioning work. And Mr Watson said he was “really excited” about Wood Group’s merger with Amec Foster […]

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Cairn Energy profits rise as company reaps Kraken rewards

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Scottish oil firm Cairn Energy said production start-up from the North Sea Kraken field had steered the firm to a strong first half. Edinburgh-headquartered Cairn has a 29.5% stake in the EnQuest-operated Kraken field, which reached first oil in the second quarter. Cairn said production ramp up under way on Kraken, with a plateau of […]

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Profits soar at Cape despite subdued North Sea upstream sector

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Cape said higher UK margins and gains stemming from its restructuring plan drove the industrial services giant to a strong first half.  But Middlesex-based Cape, which has accepted a £332million-plus takeover bid from French group Altrad, said market conditions in the UK were still a challenge. Despite a small recovery in oil prices, demand from the […]

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Fire reported at Exxon’s Rotterdam refinery

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ExxonMobil said no injuries had resulted from a fire at its refinery in Rotterdam. The fire broke out yesterday, but the facility remained operational, Reuters reported. The fire affected a powerformer unit at the complex. Exxon said it was cooperating with local emergency personnel. “We regret the incident and any inconvenience caused to the community,” […]

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Court puts brakes on Petrobras’ sale of power station venture to Total, report says

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A court in Brazil has put the brakes of Petrobras’ plans to sell 50% of a power station operator to Total following a lawsuit, a news report said. Petrobras said it had not been notified of the decision by the federal court in Sergipe state, Reuters reported. Petrobras’ sale of TermoBahia was signed in December […]

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US power grid takes solar eclipse in its stride

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The Great Solar Eclipse of 2017 came and went and California kept the lights on despite losing about half of its solar energy during the darkest moments. At the command center of the state’s grid operator, the California Independent System Operator, in Folsom, the mood was more festive than fraught. Employees wore commemorative pins and […]

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Most new Permian oil likely to be exported from Houston, Corpus Christi

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Most of the new crude oil produced in West Texas’ Permian Basin during the next few years will be shipped from Gulf Coast ports to growing nations in Asia and other regions, according to analytics firm IHS Markit. So while domestic oil consumption is rising only slightly, the foreign demand for U.S. oil is booming, […]

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Wood Group profits down ahead of Amec FW merger

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Energy service giant Wood Group recorded a 36% drop in first-half profits in the run up to its merger with Amec Foster Wheeler (AFW). Wood Group said today that the transaction was still on track to conclude in the fourth quarter of 2017. Read: Consultation opens on Wood Group’s takeover of Amec Foster Wheeler The […]

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Waiting game on jobs after Total, Maersk takeover announcement

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French energy giant Total said yesterday that its deal to buy Maersk Oil for £5.8billion would turn it into a “North Sea leader”. The transaction will transform Total into the region’s second largest operator when it goes through early next year. Paris-headquartered Total said its portfolio would be complemented by the “world class” North Sea […]

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Ex-employee claims safety breaches at EnerMech

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An oil and gas service provider has been accused of multiple breaches of health and safety regulations by a former employee. Stewart Logan worked for EnerMech for four years, running the Engineering Construction Industry Training Board (ECITB) programme, but resigned from his position last year. At the time, he was earning more than £60,000 a […]

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Petrofac sells Mexico contract to Schlumberger

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UK-based energy service firm Petrofac has sold its 50% stake in Petro-SPM Integrated Services to Schlumberger. Schlumberger now owns 100% of Petro-SPM, which operates the Panuco integrated service contract in Mexico. Rob Jewkes, chief operating officer, Petrofac Integrated Energy Services, said: “We are pleased to conclude this transaction, which is in line with our strategy and […]

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BHP discusses US shale asset sales after activist campaign

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BHP Billiton is in talks with potential buyers of its US shale assets – acquired in a contentious $20billion deals spree in 2011 – and will delay a move into potash after months of public skirmishes with activist investors led by Paul Singer’s Elliott Management Corp. The strategy pull-back by the world’s top miner comes […]

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Maersk Oil acquisition a story of North Sea consolidation for Total, Woodmac says

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Total’s multi-billion dollar acquisition of Maersk Oil is driven by the French energy giant’s desire to consolidate in the North Sea, an analyst said. Consultancy Wood Mackenzie (Woodmac) said the transaction was the biggest North Sea-weighted deal since Statoil merged with Norsk Hydro in 2006. Valentina Kretzschmar, director, corporate service at Woodmac, said the acquisition created plenty of […]

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Technology Forum to help unlock future oil and gas developments

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Lowering the life-cycle cost of North Sea field developments will be the focus of an industry event in Aberdeen today. Regulatory body, the Oil and Gas Authority (OGA) and the Oil & Gas Technology Centre (OGTC) have joined forces to host the event at the AECC. The Technology Forum will look at ways to unlock […]

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LISTEN: Total beefs up its North Sea portfolio with the $7.45bn acquisition of Maersk Oil

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Wood Mackenzie analysts have been discussing French supermajor Total’s acquisition of Maersk Oil. Valentina Kretzschmar, director of corporate research was joined by principal analyst of upstream mergers and acquisitions Greig Aitken and Maxim Petrov a senior corporate research analyst. To listen along, click the audio play button below.

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About SITEK

SITEK is a small, privately owned business delivering corporate-class support services to the oil and gas, energy, chemical and process industries in the East of England and the UK North Sea.

Exceptional quality, safety, productivity and seamless continuity are the four cornerstones of our business upon which we have established an exemplary track record over the last five years, and a solid foundation for future growth.

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