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Petroleum Review - September 2011

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Perspective – Would the real peak oil policy please stand up?

NORTH SEA – E&P
Norway fires up for fast-tracks
Offshore Norway there are currently around 30 projects moving towards development. Some are recent Norwegian continental shelf (NCS) discoveries, while others are historic finds, from Atla, Bream and Boyla, to Dagny, Draupne, Eirin, Flyndre and Frøy, to Hanz and Hild, Luno, Mjølner, Nemo, Peik, Svalin and Titan, and two known only by block designations, 31/12- N 11 H and 35/2-1 – to name but a few. John Bradbury reports on recent activity in the Norwegian, Danish and Dutch sectors of the North Sea.

NORTH SEA – E&P
Tax hike spanners UK North Sea recovery
The anticipated increase in activity in the UK sector of the North Sea was undermined by a significant tax increase in this year's UK budget. This led to a 52% decline in UK sector exploration activity in 2Q2011. In marked contrast, Norwegian activity has been boosted by a series of fast-track developments, writes Chris Skrebowski.

NORTH SEA – E&P
Maximising returns on North Sea assets
One of the most surprising elements in the UK government's Budget report earlier this year, was George Osborne's announcement that oil and gas operators in the North Sea would be subject to a heavy new tax. Since then, there has been much debate within the industry on the judiciousness of this new levy, although all parties seem to agree that it places operators under more pressure than ever before to maximise the return they can deliver from their existing assets. Stephen McNeil, Partner EC Harris Aberdeen, explains.

NORTH SEA – Scotland
Scottish independence and the UKCS
The boundary between England and Scotland has been the cause of many battles over centuries past but recent history has happily been more peaceful. The Scottish Nationalist Party's landslide victory in the spring Scottish elections and the party's commitment to independence raises the spectre of fresh conflict between the two countries over the UK continental shelf and its oil and gas resources, writes Penelope Warne, who is qualified in both Scots and English law, and is Head of Energy at CMS Cameron McKenna

ATLANTIC MARGIN – E&P
The final frontier
The West of Shetland Atlantic Frontier is one of the world's most hostile and technologically challenging marine environments faced by the offshore industry. Few places can match its combination of sheer remoteness, harsh environment and severe metocean challenges that face operators seeking to unlock the oil and gas reserves which lie beneath the ocean floor writes Mark Thomas.  

TECHNOLOGY – E&P
Innovation offshore
Operating in the polar regions of the world poses incredible challenges for the offshore oil and gas sector. Thirty years ago, operating in such extreme weather conditions was considered almost impossible. In response to these challenges, the industry has become ever more innovative and increasingly automated, and operating in the world's polar seas is now more commonplace. In the future, we are likely to see the industry operating even further north, above the Arctic Circle, but a traditional workforce will still be required for many dangerous and dirty tasks, writes Nicholas Newman.

BUSINESS MANAGEMENT – CSR
Back to 3BL basics
Dr David Wood, Independent Energy Consultant, DWA Energy, suggests that corporate social responsibility (CSR) is in danger of being misused by some oil and gas companies for public relations purposes. He believes some form of standard approach is required and asks whether it is time to return to some triple bottom line (3BL) basics?

REFINING – SUPPLY CHAIN
Changing the refinery game
Oil and gas operators across the globe are facing huge commercial challenges with production on the decline from established reserves. Energy demand is putting enormous pressure on supply capacity and new capital is needed to boost production. There is an increased expectation to meet customer product demands, as well as to comply with ever more stringent safety and environmental regulations, whilst reducing operating costs, improving supply chain distribution efficiency and increasing margins, explains Eric Petela, Director – Business Consulting, AspenTech.

H&S –  PROCESS SAFETY
Managing HS&E and process safety
Martin Ball MEI, John Pond MEI and Dr Mark Scanlon MEI explain how businesses can measure their process safety performance using the Energy Institute's Process Safety Survey (EIPSS), which will be showcased at the 20th World Petroleum Congress in Doha this coming December.

EI TECHNICAL – HYDROCARBON MANAGEMENT
Measurement matters
The following article highlights some of the latest developments within the Energy Institute's (EI) Hydrocarbon Management Committee (HMC).

SHIPPING – HYDROCARBON MANAGEMENT
Marine crude oil transport – global voyage losses fall in 2010
This article by Paul Harrison – Consultant to the HMC-4(A) Marine Oil Transportation Database Committee – presents findings from analysis of 2010 marine crude oil transport data, updating the 2009 analysis which was reported in Petroleum Review in September 2010.

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