North Sea firm warns windfall tax risks derailing project
Europa Oil & Gas (AIM: EOG) has warned that its Serenity oil development in the Central North Sea could be hit by a new government changing its fiscal policy.
Europa Oil & Gas (AIM: EOG) has warned that its Serenity oil development in the Central North Sea could be hit by a new government changing its fiscal policy.
Hot off its Southern North Sea success with Shell, Deltic Energy (AIM: DELT) said it is progressing plans for a farm out deal on its “drill-ready” Syros prospect by the end of this year.
Orcadian Energy CEO also said first oil could be achieved at its Pilot development by 2028
New research has cast light on the top companies commanding the majority of the UK's North Sea production and spending.
Move could see development of Belinda discovery in UK.
Petrogas is weighing options for two new UK North Sea gas projects – including taking over an old Spirit Energy hub.
There’s been a raft of relegations and promotions in the last year for the league table of the top 15 production hubs in the UK North Sea.
Perenco has increased its SNS production by 20%.
Analysts have named Parkmead Group’s (AIM: PMG) Skerryvore as the UK North Sea well to watch this year.
Welligence analysis shows Apache decision to halt drilling at Beryl and Forties hubs will significantly impact field production life.
“But most of the cash flow increase is coming from improvements in the quality of the portfolio. We're shifting from mature legacy assets to next generation assets.”
Norwegian oil and gas operator DNO (OSL:DNO) is expanding its UK North Sea portfolio, acquiring a 25% interest in the Arran field from Dutch firm ONE-Dyas.
Shell has confirmed a drilling contract for the Valaris 123 jackup rig for the Selene exploration well and Pensacola appraisal well.
“The first target has an NPV of $4bn, for a $30mn well. We know it’s frontier exploration and the chance of success is maybe 20%, but it stands up.”
The second tranche of the 33rd offshore licensing round sees 17 companies awarded North Sea licences
Hartshead Resources (ASX:HHR) has announced a deal for a 'financing backstop' worth A$800 million (£415m) to progress the first phase of the Anning and Somerville developments in the North Sea
"Ultimately political and regulatory processes will work through to get the right answer."
Tax incentives associated with the Energy Profits Levy may have encouraged Shell to move its Victory plans forward.
Operator NEO Energy submits environmental statement for Buchan redevelopment in Moray Firth.
An analyst firm has put Deltic Energy’s stake in the Shell-operated Pensacola discovery in the North Sea at $200m.
"That, to me, is a demonstration that they’re not really serious about tackling the climate crisis.”
Government legislation designed to maximise North Sea oil and gas production has been delayed to avoid it being rushed through its first stage in 45 minutes.
North Sea oil from new exploration licences sent to domestic refineries would account for less than 1% of the fuels used in the UK in 2030, a think tank has found.
The Chancellor has hit back at the former net zero tsar after he quit the Conservatives over the Government’s decision to increase domestic oil and gas drilling.
Australian oil and gas explorer Finder Energy (ASX:FDR) has outlined details of its Boaz gas prospect in the Central North Sea.