Tag Archive for coatings for oil and gas

Support for Offshore Oil and Gas Industry with New Tax Reform

The offshore oil and gas industry is facing a radical reform with regard to the way that the industry is taxed.

The UK government plan to move away from their previous focus of maximising revenue for the Treasury, admitting that the new burden of maximising extraction will mean a lower tax burden.

 Economic Benefits “For Years to Come”

The treasury minister announced on Thursday 4th December that this new support for the industry will provide economic benefits for years to come.

These radical reforms will mean that the tax burden on the oil and gas industry will be lower, encouraging investment in the North Sea, and providing significant economic benefits for the UK for the future. The reforms include the implementation of a basin-wide investment allowance, designed to reduce the tax rate for companies investing in the future of the UK Continental Shelf.

Offshore Exploration in the North Sea

This will be in addition to tax concessions announced in the chancellor’s Autumn Statement, which included an immediate cut in the supplementary charge element of offshore tax, from 32% to 30%. There will also be more flexibility in tax allowances for companies that haven’t yet seen an income from their investments. Furthermore, the government has committed to boosting offshore exploration through supporting seismic surveys in under-explored areas of the North Sea.

Reducing the Tax Burden on the Oil and Gas Industry

“The government is demonstrating its long term commitment to supporting the North Sea oil and gas industry with a package of measures expected to drive around £7bn of additional investment,” said MP, Priti Patel. “These measures will reduce the tax burden on the industry, driving investment in the North Sea that will provide economic benefits to the UK for many years to come.”

The changes to the tax regime follow the recent review of the sector by Sir Ian Wood. The review recommended a new regulator, and a requirement that the industry, government and that regulator should be co-operating more closely.

Chief executive of industry body Oil and Gas UK, Malcolm Webb, said: “We are encouraged to note that fiscal policy will now be framed in the context of the sector’s wider economic benefits and will also take account of the global competitiveness of the industry in terms of commodity prices and costs.”

Metal Finishing Services for oil and Gas Applications

Here at NiTEC, we provide a range of metal finishing and metal plating services for both onshore and offshore oil and gas applications. Our revolutionary metal coating SeaTEC100 is a solution to increase the longevity of components used in subsea conditions that protects mild steel from salt spray corrosion and marine corrosion for an extensive period of time. For more information about corrosion resistant coatings, please call NiTEC UK on 0845 224 3571 or email info@nitec-enp.co.uk

Electroless Nickel Plating and It’s Use in the Oil and Gas Industry

Electroless nickel coatings can be used in a wide range of industries, including oil and gas. The properties of most value to the oil and gas industries are generally the uniformity of the thickness of the deposit, the excellent corrosion resistance that it provides, and its properties of abrasion and erosion resistance.

Enhancing Oil and Gas Base Materials with Electroless Nickel

The base materials that are traditionally used in the oil and gas industry have been enhanced by the application of electroless nickel coatings. Not only does electroless nickel lower the fabrication costs of many parts, it also extends the surface life of components. Extending the service of parts used in this industry is incredibly valuable, as the cost of shutdowns can be very expensive and time consuming.

The Three Areas in the Oil and Gas Industry

Operations in the oil and gas industry can be divided into 3 main areas; surface operations, subsurface operations or downhole operations, and offshore operations. Equipment is often exposed to severe environmental conditions including chlorides, carbon dioxide, brines, hydrogen sulphide, sea water and reef water, which can contain high levels of sulphur compounds.

In addition to this type of exposure, equipment may be exposed to abrasion problems associated with the ingestion of sand, mud, and very high temperatures.

Typical components whose performance has been enhanced by electroless nickel include the following:

Surface Operations

  • Blowout preventors
  • brake assemblies
  • chokes
  • compressors
  • gas turbines
  • pump housings
  • pumps
  • connection manifolds
  • valves

Subsurface Operations or Downhole Operations

  • Couplings
  • logging tools
  • plungers
  • packers
  • pumps
  • safety valve units
  • tubing

Offshore Operations

  • blowout preventors
  • gas turbines/compressors
  • heat exchangers
  • pumps
  • riser connectors
  • valves

UK Based Electroless Nickel Plating Factory

Here at NiTEC UK, we are experts in the process of electroless nickel plating. Our Chesterfield, UK based electroless nickel plating factory has a total of 7 nickel plating lines, making us one of the largest in Europe with the capacity to plate items of all sizes, no matter how small or large.

To find out more about NiTEC UK, electroless nickel plating, and our ability to plate equipments and components for use in the oil and gas industry, contact us today on 0845 224 3571 or email info@nitec-enp.co.uk