The UK has announced plans to award dozens of new oil and gas extraction licences for the North Sea. The new licenses will allow companies to explore for and extract new reserves of oil and gas. These new licences will be granted to companies that have the expertise and financial backing to bring these new reserves to the market.
INEOS awarded three new shale gas licences
INEOS, a leading UK shale gas company, has been awarded three new petroleum exploration and development licences. These new licenses cover 250 square kilometres in the East Midlands and Derbyshire and will help the company further develop its UK Shale gas business. The licences were awarded by the Department of Energy and Climate Change’s 14th Licensing Round.
The company has recently acquired 15 shale gas exploration licences from rival Engie, consolidating its position as the largest explorer in the UK and extending its rights to explore 1.2 million acres. The announcement coincided with a roundtable on shale gas development held by Energy Minister Claire Perry. Perry met industry leaders and gave evidence on the proposed changes to the way the industry develops in the UK.
Following the completion of a regulatory process in June 2015, INEOS was awarded three shale gas licences, covering an area of around 250 square kilometres in the East Midlands. The company said that it had previously acquired 300,000 acres of land in the region. It is now focusing on the next round of licensing, which will feature 132 more blocks.
Scotland has a moratorium on shale gas and coal bed methane, which has been banned in the country since 2015. However, the company has responded by saying the ban was ‘adequate’ and that the process is continuing to assess the scientific evidence for both sides.
The company also recently paid PS1 billion for Dong Energy, a Danish oil and gas firm. It also acquired a pipeline from BP to allow oil and gas companies to access the area. It also owns a chemical company that produces chlorine and caustic soda, which are used in the pharmaceutical industry and synthetic fibres.
INEOS community engagement programme aims to dispel myths about shale gas production
In order to address community concerns about shale gas production, INEOS has launched an extensive community engagement programme. The aim of this programme is to talk directly to communities and dispel myths about shale oil and gas production. This will involve community events, such as town hall meetings and a film series that dispels myths. The films will be available online and at community meetings. They will explain how the shale gas extraction process works, and will also dispel myths and address common concerns.
For example, some people think that it is dangerous to work in offshore shale gas production. In reality, shale gas is safe to use and has many benefits, including the ability to meet global demand for chemical products. This process also provides a source of clean energy that is clean and renewable, and INEOS is one of the world’s leading companies in the development of hydrogen fuel. However, the fact is that renewable technology is not yet reliable enough to take over our current energy needs. We’ll need gas for the next 30 years.
INEOS’s community engagement programme is intended to dispel these myths about shale gas production and encourage people to get involved. The company has already secured two licences to access shale gas in Scotland, and the company has committed to full consultation with local communities and local authorities. Furthermore, INEOS has promised to share 6% of its revenue with local authorities.
INEOS is a global manufacturing company that creates raw materials and energy needed for everyday life. Its products address a wide range of societal needs, from preservation of food to renewable technologies. They are used in medical devices, clothing, insulation and industrial applications.
INEOS welcomes the results of the Com Res survey, which polled 2,035 adults in the UK about fracking. The survey’s findings indicate that the public is generally supportive of the process. While there are still concerns about fracking, the company believes that the process will be safe and can benefit the UK’s energy needs.
Shell Plc’s plans to bring on the Jackdaw gas field in mid-2020s
Shell Plc is bringing the Jackdaw gas field online in the UK North Sea in the mid-2020s. It is expected to bring on about 6% of UK gas production. The development involves a new Wellhead Platform and subsea infrastructure. These will connect to an existing gas hub in Shearwater. The company expects to produce 40,000 barrels of oil equivalent per day from Jackdaw. Shell’s upstream position in the UK North Sea is one of its key Upstream positions. These fields offer high margin hydrocarbon projects that are resilient to commodity price cycles.
The Jackdaw project is a big deal for the UK, but it is also a potential cause for concern for environmentalists. The company is already facing legal challenges from environmental groups. The company’s plans for the Jackdaw gas field come as the UK government is considering a new 25% windfall tax, which is meant to cushion the impact of high energy costs by encouraging domestic investment. The oil and gas company said last month that it needs a stable tax environment to make long-term investment decisions.
Despite the current uncertainty regarding the Jackdaw gas field, the company is confident in its plans to bring the gas field on-stream by the mid-2020s. The project is also expected to boost production of natural gas, which will help the company meet demand and meet its debt repayments. However, the project is dependent on market conditions and is subject to risks that may negatively impact the company’s financial position.
Timescale for start-up of new fields
A new floating oil production vessel, called Glen Lyon, is expected to arrive in the North Sea this year. It is designed to store and export 130,000 barrels of oil per day. Production is expected to start during the fourth quarter of 2016. A new pipeline system is also planned. It is being developed to supply the Loyal field, which is located 100 miles off the coast of Shetland Islands.
The North Sea is home to some of the world’s largest oil and gas reserves. More than half of these resources are located in the Norwegian sector. The Norwegian sector contains the largest reserves, with a total of 4,601 million cubic metres of oil. This figure does not include smaller reserves in other parts of the North Sea.
Brent Field is one of the most successful fields in the North Sea, producing over 700,000 barrels of oil equivalent per day in 2001. It has contributed to the growth of the oil industry in the UK. It has also helped UK companies enter the global oil and gas market.
Jackdaw is another field that is expected to start producing hydrocarbons between the third and fourth quarters of 2025. This ultra-high pressure, high temperature field is expected to be developed by drilling four wells and using a remotely controlled wellhead platform. Its reservoir is estimated to be at a depth of 5,182m and is 17,000 psi in pressure.
Gazprom, the Russian natural gas company, has also announced plans to begin drilling on its Prirazlomnaya platform in the Pechora Sea. The project is considered the first national project to tap the Arctic’s natural gas resources. The project’s start has been delayed since 2012 due to environmental and safety assessments, but the company is now confident that the drilling will be up to international standards. The project is expected to yield at least 140,000 tons of oil in the first phase.
