Europe
News
March 11, 2024
NEO Energy is one of a handful of newcomers to the UK North Sea that in recent years has swept up oil and gas assets, in particular those from majors who have left the aging basin to pursue higher returns elsewhere.
News
March 07, 2024
Leading the new deals is the purchase of 25,000 STRYDE Nodes™ by first-time client, Ukrainian seismic acquisition firm, Georozvidka LLC. The technology will be used for multiple 2D and 3D seismic surveys in Ukraine, supporting national and global energy security through the enablement of new oil and gas exploration projects.
News
March 07, 2024
The Chancellor’s plan to continue the tax undermines OEUK’s manifesto proposals for a homegrown energy transition intended to boost domestic energy investment and drive the shift to greater production of wind and hydrogen energy, alongside the introduction of large-scale UK carbon capture and storage facilities.
News
March 06, 2024
The windfall tax has been heavily criticized by the North Sea oil and gas producers for disproportionately impacting smaller companies. While Russia’s war in Ukraine help push up profits for energy giants such as bp Plc and Shell Plc, the bulk of those earnings come from operations outside of the UK and therefore aren’t taxed in Britain.
News
March 05, 2024
During Q4 2023, the deviated well 42/30-C06 was drilled and completed with the Valaris-247 rig in 48 m water depth, delivering an estimated reserve addition of around 20 Bcf to 40 Bcf from a previously undrilled block at the North-Eastern edge of the Ravenspurn South field.
News
March 04, 2024
Following the completion of the well, the estimated recoverable volumes for the Adriana discovery have been revised upwards, from an initial 19-31 MMboe to a new estimate of 28-43 MMboe.
News
February 28, 2024
DeepOcean’s scope of work includes pipeline inspections, seabed mapping, ad-hoc pipeline survey and light construction work. The agreement is valid for 2024.
News
February 28, 2024
Eldfisk Nord is an installation consisting of two seabed templates for production and one for water injection – a total of nine production wells and five injection wells. Production start-up is expected during the first quarter.
News
February 27, 2024
Authorities have consented to the start-up of production on the Hanz accumulation on the Ivar Aasen field in the North Sea. The development solution involves reusing the subsea installations on the Jette field, which was shut down in 2016.
News
February 26, 2024
The transaction allows Serica the option to participate in the re-development of the Buchan field (formally re-named “Buchan Horst”) and other potential projects in the GBA, such as the development of the J2 and Verbier discoveries.
News
February 21, 2024
AGR will offer services such as blowout contingency planning, well control emergency response, casing magnetization service, and general transient flow analyses.
News
February 20, 2024
This year’s report will reveal the key business opportunities for supply chain companies across the country – highlighting where UK manufacturers already have the key strengths and expertise to scale up solutions like offshore wind, hydrogen, and carbon capture.
News
February 15, 2024
Ithaca reported an estimated 2023 net Rosebank capital spend of $97 million, in line with management guidance of $90 - $110 million. This reflects the meaningful activity in 2023 as project activity ramps up to support a targeted first oil date in 2026/27.
News
February 15, 2024
The higher estimate for 2024 offshore spending reflects greater investment in “fields on stream, field development and pipeline transportation,” the statistics office said. “Markedly higher” spending on field development contributed to a 22% increase in investment in 2023 compared with 2022.
News
February 13, 2024
This year, net production in the North Sea is projected at 15,000-16,000 boepd; the bolt-on acquisition of a 25% stake in the producing UK field Arran will add another 2,000-2,500 boepd once completed. In Kurdistan, DNO expects gross operated production at the Tawke license to continue to average 80,000 boepd.
News
February 12, 2024
The survey is expected to have a contract value of approximately $2 million and should commence early March 2024.
News
February 09, 2024
The UK’s offshore energy industry has warned 42,000 jobs and £26billion of economic value would be wiped out under new Labour proposals to extend the windfall tax on UK oil and gas producers.
News
February 08, 2024
The transaction is expected to add some 4 MMboe net to DNO, of which 90% gas, with projected net 2024 production of 2,000-2,500 boed. The cash consideration is $70 million plus a contingent consideration of up to $5 million if certain operational targets are met.
News
February 08, 2024
Diamond Offshore Drilling, Inc. has executed a two-year contract extension with a subsidiary of bp in the U.S. Gulf of Mexico for the Ocean BlackLion, commencing in September 2024. Additionally, the company has entered into a drilling contract with Serica Energy (UK) Limited to utilize the Ocean Patriot for two plug and abandonment (P&A) wells in the U.K. North Sea.
News
February 07, 2024
Under the framework agreement, AGR will provide services within blowout contingency planning, well control emergency response, casing magnetization service, and general transient flow analyses.
News
February 06, 2024
The Feb. 1 “equipment incident” involved the Ocean GreatWhite drilling rig about 125 miles (200 kilometers) west of the Shetland Islands, the company said in a U.S. filing on Monday. BP is leasing the vessel through at least August. Diamond Offshore describes it on its website as “one of the world’s largest ultra-deepwater harsh environment semisubmersible” rigs.
