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  1. Analysis
November 22, 2017

Offshore Technology Focus: Issue 61

In this issue: Why Danish oil majors are pulling out of the industry, opposition against Trump’s drilling plans on the Atlantic coast, the fallout from Hurricane Harvey, growing confidence in the UKCS, virtual reality simulation for safety training, and more.

By Callum Tyndall

In this issue: Why Danish oil majors are pulling out of the industry, opposition against Trump’s drilling plans on the Atlantic coast, the fallout from Hurricane Harvey, growing confidence in the UKCS, virtual reality simulation for safety training, and more.

Danish oil companies have been pulling out of the oil industry in record numbers, with the recent sale of Maersk Oil to Total following DONG energy’s decision to leave the sector altogether earlier this year. We investigate what this exodus means for the Danish oil industry.

We also take a look at the growing opposition against oil and gas exploration leases proposed in President Trump’s most recent budget proposal along the US Atlantic coast, and assess the damage done to offshore installations in the Gulf of Mexico by Hurricane Harvey.

Plus, we find out how the Industry Technology Facilitator is supporting innovation in the sector, review a new report that has revealed growing confidence in the UK Continental Shelf, and check out a virtual reality safety simulator for training developed by Lloyd’s Register.

In this issue

Jumping Ship

Two major Danish players have divested from offshore oil, with the recent sale of Maersk Oil to Total for $7.45bn following Dong Energy’s decision to exit oil & gas and focus on wind power earlier this year. Chris Lo asks what the exodus means for the once-strong Danish oil industry.

Read more.

Not Off Our Coast

US President Trump’s plans to increase offshore exploration have been met with opposition along both the Atlantic and Pacific coasts. Molly Lempriere looks into the conflict between economic benefits and environmental concerns.

Read more.

Facilitating Innovation

The Industry Technology Facilitator (ITF) is one of the oil and gas industry’s foremost support mechanisms for new technology development, with members including BP, Chevron and Shell. Heidi Vella finds out more about the group’s aims and achievements.

Read more.

Proceed with Caution

Oil & Gas UK’s latest economic report reveals growing confidence in the UK Continental Shelf, which recorded $6bn of M&A activity for the first half of 2017. Julian Turner talks to Deloitte senior partner Graham Hollis about new private equity investment, the digital revolution and bridging the skills gap.

Read more.

The Cost of Harvey

Hurricane Harvey caused major issues for the oil and gas industry in the Gulf of Mexico. Molly Lempriere takes a look at the damage done and asks how it has affected the US oil market.

Read more.

The (Virtual) Reality of Training

Lloyd’s Register has developed a Virtual Reality (VR) Safety Simulator to help support training and knowledge transfer in the energy industry. Patrick Kingsland spoke to LR’s VP of Marketing and Communications, Peter Richards and Global Academy Training Manager, Luis De La Fuente, about how it works.

Read more.

Next issue preview

Research by the University of Edinburgh suggests the UK’s oil and gas industry is entering the last decade of production due to depleting resources. The study, which found that just 11% of oil and 9% of gas remain currently available for recovery, flies in the face of bold UK and Scottish government estimates and was released in the same week that Statoil announced a ‘significant new discovery’ in the area. We investigate the conflicting projections for the future of the UKCS.

We also take a look at Malta’s latest offshore exploration efforts and chart a timeline of the most significant discoveries in the Mediterranean Sea.

Plus, we investigate the controversy surrounding Hilcorp’s first plan to drill in Alaskan federal water, explore a new remote tracking technology for sea ice affecting offshore installations, and find out how wearable Internet of Things-enabled devices are helping to keep workers safer on the job.

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