Shell to sell working North Sea oilfield

Article Abstract:

Shell aims to sell its 49% share in the North Sea oil field, Kingfisher, which produces oil and condensate plus gas totalling 30,000 barrels per day. Shell UK Exploration & Production revealed on 18 August 1998 that the oil field was not a strategically vital part of its portfolio, one of a number of factors behind the planned sale. Shell has never before disposed of a working field and the move emerged as the price of Brent Crude for October 1998 shipment declined to US$ 12.21, the lowest price in ten years. Analysts believe that Shell's planned disposal stemmed from a desire to become more proactive following criticism that it had not been selling less profitable operations quickly enough.

Comment:

Aims to sell its 49% share in N Sea oil field, Kingfisher, which produces oil & condensate plus gas totalling 30,000 barrels/day

Crude Petroleum & Natural Gas, Petroleum industry, Petroleum, Gas industry, Shell U.K. Exploration and Production

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Investors tap into oil and gas

Article Abstract:

Azerbaijan produced 1.6 million tonnes of oil from 37 onshore fields and 7.5 million tonnes from 17 offshore fields in 1997. It aims to increase output to between 50 million tonnes and 60 million tonnes a year by 2005. This estimate is based on the fact that areas contracted out for development contain 1.6 billion tonnes of recoverable oil reserves. The key issue still to be resolved in relation to the development of the Caspian is how to move oil to the markets.

Crude petroleum and natural gas, Exploratory Offshore Oil & Gas, Exploratory Onshore Oil & Gas, Natural resources, Natural gas exploration, Offshore oil fields, Azerbaijan, Oil and gas exploration, Petroleum exploration

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North Sea gas leaks linked to flaw that caused piper Alpha disaster

Article Abstract:

Two serious gas leaks on a North Sea storage platform, linked in both cases to flange failure, could have led to a disaster similar to that on Piper Alpha. BG (formerly British Gas) carried out its own internal report after the first incident, blaming operational and management mistakes. The Health and Safety Executive has since ordered improvements to be made to safety procedures as a matter of urgency.

Comment:

North Sea: Two serious gas leaks on a North Sea storage platform are linked to flange failure

Offshore Gas

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