2015 marks our 30th birthday here at Claxton Engineering. To celebrate, we’ve created an infographic of 30 facts you may not know about us – scroll down to see them all…
It was at a recent event in Norwich, organised by the East of England Energy Group (EEEGR), which highlighted the continual concern of ageing assets in the North Sea.
Around 70 installations in the Southern North Sea are now older than their 25-year original lifespan and a staggering 320 platforms across the entire North Sea are over two decades old. These assets remain in active use, but the investment required to replace them is slow to materialise as reserves deplete and become more costly to extract.
This comes on the back of the news that the region's output dipped below levels in the 1970s towards the end of 2014, and so too did the cost of oil per barrel.
Following the announcement in 2013 on Budget Day by Chancellor George Osborne, the oil and gas industry welcomed the introduction of the Decommissioning Relief Deed.
The tax relief project, worth in excess of £20 billion over a 30 year period, will be used to encourage investment in production by reducing the amount of capital that is tied up under decommissioning security agreements (DSAs).
Described as the "definitive guide to the current health and future prospects of the offshore oil and gas industry in the UK", the Economic Report by Oil & Gas UK has given fascinating insights into the sector's future.
Based on 2013 stats, when the UK and global economy were sneaking out of a recession, the report shows that there is much to do on the investment front on the UKCS, but the stimulation from the fiscal regime is helping to aid recovery in the sector.
Pictured: Claxton has worked on numerous conductor asset life extension and removal operations.
Nick Marriott, region manager for Claxton in Dubai, recently sat down to discuss a growing challenge for operators in the Middle East and beyond: Conductor integrity and an ageing asset base. Read on to find out his thoughts on how operators can meet these challenges...