Oilfield delays "may benefit Shetland's overheating economy" - Scott

Shetland MSP Tavish Scott has claimed that delays in developing the massive Rosebank oilfield off Shetland could actually benefit the local economy, according to a story in The Shetland News.

Delays and doubts announced over two oil developments off Shetland

In two separate announcements today, oil giant Chevron cast doubt on the viability of its $10bn Rosebank development west of Shetland, and Norwegian state company Statoil postponed $7bn of work on the Bressay field in the North Sea UK sector.

Chevron stated that Rosebank  “does not currently offer an economic value proposition that justifies proceeding with an investment of this magnitude", though it was still working with  partners OMV from Austria and Denmark's Dong Energy to make the project work economically. A final decision is expected next year.

Statoil is looking at simplified methods of extracting the Bressay field's heavily viscous oil. 

Both projects offer extreme technical challenges.

Read the full Chevron story courtesy of The Telegraph here, and about the Statoil announcement here, via Invezz.

Chevron's hi-tech surveys off Shetland - and how small is beautiful in energy developments

Chevron's Rosebank field west of Shetland, 9000 feet down, used 750 sea-bottom sensors in hi-tech solution to survey difficulties...and the future of energy development may lie in the hands of small, fast-moving, flexible companies.

Fascinating overview of how energy may develop in future from New York Times

 http://www.nytimes.com/2013/10/15/business/energy-environment/cracking-the-energy-puzzles-of-the-21st-century.html?pagewanted=1&_r=0

"Cracking the Energy Puzzles of the 21st Century"

New life for Baltasound Airport? And Lerwick Harbour gets busier and busier

Chevron has confirmed it is looking into the possible reopening of the mothballed Baltasound Airport in Unst to service its Rosebank oil and gas development, according to this Shetland News story:

http://www.shetnews.co.uk/news/7163-chevron-to-check-out-baltasound-airport


And at Lerwick Port Authority, it's a story of larger vessels, more cargo, and investment in new quays and infrastructure paying off over the past six months

Improved access and expanded deep-water facilities at the Port of Lerwick continues to deliver results, with larger vessels handling increased cargo in the first half of the year. There were 2512 vessel arrivals in the six months to June, three fewer than in the same period in 2012, with tonnage of shipping up 9% to 6.1 million gross tonnes, including 1.8 million gross tonnes of oil-related shipping, a rise of 26%. The 705 pilotage movements were up 14%, with the 4.5 million gross tonnes of vessels piloted also increased by 14%.

Cargo across the port’s near 4,000 metres of quays rose by 18% to 530,285 tonnes including oilrelated shipments higher by 42.5% at 93,063 tonnes. Support for offshore projects and shipments of equipment for the construction of the Shetland Gas Plant, near Sullom Voe, and its onward transportation by sea and road, were a feature of the period's activity.

Lerwick Port Authority Deputy Chief Executive, Victor Sandison, said: “The port handled virtually the same number of vessels, but significantly more cargo, underlining the value of ongoing investment in expanded facilities, including deep-water quays, which accommodate larger vessels, as reflected again in the tonnage of shipping this year.

“Two additional quays will be completed in the second half of the year, further expanding the infrastructure, and other developments are in the pipeline.”

Passengers using the port increased by 1% to 69,248, due to a 5% rise in ferry traffic and despite
a forecast fall in cruise passengers, down 16%, due to factors affecting specific operators.
Fish landings totalled 27,765 tonnes,  valued at £26.7 million – up 44% on volume and 40% on
value. The 5,538 tonnes of white fish were valued at £8.1 million – up 5.8% on volume and down 6% on value, with the price per tonne decreased by 11% to average £1,474 per tonne.