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North Sea Oil Giant to Prolong Life of 20 Offshore Platforms

Equinor, a Norwegian oil giant plans to extend the life of offshore platforms with a number of more than 20 in Norway. On Thursday, the company said that authorities had given their approval for the life extension of 8 installations on the Norwegian continental shelf (NCS) for the past 3 years. The company added that […]

New Oil and Gas Discovery in Norwegian Sea

Equinor with its partners, Ineos E&P and Faroe Petroleum have discovered oil and gas from the Snadd Outer Outer/Black Vulture exploration well in the Norwegian Sea. Snadd Outer Outer is the well’s first target found to contain gas. The second target, Black Vulture, discovered oil upon further drilling. Equinor said that there was a total […]

Gas Demand Set to Keep Rising

By 2024, it is expected that the global demand for natural gas is set to rise by more than 10% in the next five years, which can reach up to 4.3 trillion cubic meters. International Energy Agency (IEA) revealed that China is expected to account for more than 40% of gas demand growth in 2024, […]

North Sea oil and gas independent eyes bumper deals

Mitch Flegg, the boss of North Sea-focused Serica Energy has highlighted the firm’s appetite for bumper acquisitons where most of the assests bigger competitors may have lost interest in lie. After the completion of a portfolio purchase from BP 6 months go, this has propelled it into the premier league, according to Mr Flegg as […]

First oil produced from flagship field in North Sea

An exploration and production firm has achieved the “incredible achievement” of delivering first oil from its flagship North Sea field on time and within budget. This has only just started the work in developing “considerable resources” at Lancaster field, to the west of Shetland, Hurricane Energy said. Due to its naturally fractured basement reservoirs, London-headquartered […]

Seadrill Considers Selling Assets to Reduce Debt – CFO

Offshore drilling contractor Seadrill is considering to sell their non-core assets which include its 15.7% stake in oil service firm Archer. This is to reduce their liabilities, according to the firm’s chief financial officer. Controlled by Norwegian billionaire John Fredriksen, Seadrill emerged from the U.S. Chapter 11 bankruptcy proceedings last year. In order to repay […]

Faltering North Sea Oil Production Set To Tighten Global Markets

According to Rystad Energy, crude and lease condesate production in the North Sea is set for lower levels in the coming months for summer. This further tightens the global oil market which is already grappling with several production declines in Iran and Venezuela, OPEC’s cuts and a contamination issue that shut down Russian pipeline supplies […]

Repsol Sinopec Shuts Down North Sea Platforms Due to Pipeline Repairs

In Claymore offshore platform located in the UK North Sea, the production has been temporarily shut down. Repair work is being carried out by the operator Repsol Sinopec Resources UK on the valve of the export pipeline from the platform to the onshore Flotta terminal in Scotland. There was a reported leaking of the hydraulic […]

Aker BP to Plug North Sea wells

Aker BP has been given a consent by Norwegian PSA to use the Deepsea Nordkapp mobile drilling facility. This is to help to plug production wells of Jette Field. This will involve permanently plugging the two production wells on Jette field or North Sea based on the given consent. Work is scheduled to begin by […]

25,000 New Oil and Gas Workers Needed in Next 6 Years Says OPITO

For the next 6 years, OPITO, an energy skills body has set out a strategy to prepare for the shift in skills for requirements in the UK oil and gas industry. Under the OPITO’s Skills Landscape 2019-2025 Report of section of UKCS Workforce Dynamics research series, it has been observed that technology advancement, internationalisation and […]

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