Recognising that exploration is an inherently risky business is the name of the game for newcomer Seapulse, which is working out new ways to play it.
A top boss at Maersk Drilling estimates the North Sea industry could save around $1 billion a year if it makes further in-roads on collaboration.
Azinor Catalyst said today that the Transocean Leader rig had been mobilised for its North Sea drilling campaign.
Optimism is returning to North Sea exploration, though estimates for this year’s drilling targets could be unrealistic, an oil sector analyst has said.
Seacrest Capital Group-backed energy firm Azinor Catalyst is beefing up its UK North Sea oil and gas portfolio by buying an exploration licence from Trap Oil and Norwegian Energy Company (Noreco) UK. The licence covers three blocks known as the Homer asset in the North West Witch Ground Graben area of the Moray Firth. Under the terms of the “farm-out” deal, which is subject to UK Government approval and would see London-based Azinor become operator for the asset, Trap and Noreco with both receive payments contingent on the occurrence of certain future events.
Xcite Energy said it continues to talk with potential field partners for its Bentley field development in the North Sea.