The disputes over control of the South China Sea between China and emerging economies in the region, including Vietnam, Malaysia, Taiwan and the Philippines, have set back the local offshore oil industry and deterred foreign investors, as well as causing tension between China and the US. But are the region’s reserves worth the trouble, and who stands to benefit? We speak to analysts to find out.
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We also get an insight into the UK’s newly established Oil and Gas Authority, an independent regulator for activity on the UKCS, hear from GlobalData about the deepwater potential of the Guyana Suriname basin, and ask what the US government is doing to assess the safety of ageing pipelines in California. Plus, we take a look at pioneering offshore carbon storage projects around the world, and speak to IFS about streamlining asset management.
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In this issue
Power Shift
The 2015 UK Energy Bill grants the government’s Oil and Gas Authority the power to fine upstream operators, revoke exploration licences and arbitrate in disputes. Julian Turner asks GlobalData analysts Matt Beven and Will Scargill for insight into the fledgling regulator.
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Resources & Tensions
Countries surrounding the South China Sea are fighting for control of the area and its resources. Disputes have stunted its offshore oil industry, deterred investors, and are now creating tension between China and the US. Lindsay Dodgson finds out more.
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By GlobalDataGuyana’s Deepwater Potential
GlobalData discusses how the commercial success of the Liza project could redefine the Guyana Suriname basin as a global deepwater production player. By Anna Belova, PhD, senior oil and gas analyst; Matthew Jurecky, head of oil & gas research and consulting; and Ali Rasheed, upstream oil and gas analyst.
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Under Pressure
In August 2015, the Center for Biological Diversity petitioned the US Government to inspect California’s ageing offshore pipelines following the Refugio oil spill, which devastated local wildlife. Abi Millar asks, just how vulnerable are California’s subsea pipelines?
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Offshore CCS: Leading the Way
As countries start to clamp down on carbon emissions, offshore CCS has seen increased investment, resulting in some promising projects in the pipeline. Heidi Vella takes a look at the most innovative.
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Streamlining Assets
At the IFS World conference earlier this year, Heidi Vella caught up with IFS’s Thomas Sald to find out how the company’s new software is helping oil and gas manufacturers and asset managers work more efficiently.
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Next issue preview
A recent survey by Trelleborg‘s offshore division suggests that although the offshore industry favours innovation and long-term ‘value-add’ services from its suppliers at the tender stage, short-term decision-making based on immediate costs often takes priority when projects move forward. We speak to Trelleborg to find out more about this understandable cost-cutting instinct, and ask whether it is stifling innovation and damaging the industry in the long run.
We also investigate why both Shell and Statoil decided to abandon their Arctic exploration efforts, and ask whether Nigerian National Petroleum’s $1.2bn drilling deal will breathe new life into Nigeria’s offshore industry. Plus, we take a look at the latest water treatment technology for oil recovery and find out how Oil & Gas UK is following up on the recommendations made by the Wood Review with the establishment of an efficiency task force.
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