An $85 million dividend and a deal to sell a stake in aging North Sea oil wells for one dollar has landed Viaro Energy in a London lawsuit against Taqa (ADX: TAQA), Abu Dhabi’s biggest utility.
“In the early 2030s we will have probably removed all of the assets we have operating at the moment,” says David Wilson, decommissioning and projects director at TAQA (ADX: TAQA).
More than 300 offshore workers have voted for strikes across 20 North Sea installations, Unite the Union has announced, causing "major problems" for production.
The majority of UK North Sea assets are being dismantled in Britain, new figures have revealed amid concerns of overseas yards winning decommissioning work.
Taqa has celebrated completion of a major decommissioning project at the Brae field in the North Sea.
The Oil and Gas Authority (OGA) has issued a warning to operators over a type of M&A deal which risks firms defaulting on their liabilities.
Taqa has taken a £339million write-down in the value of its North Sea assets as a result of Covid-19 and the oil downturn.
Oil and gas firm Taqa has handed in decommissioning plans for two of its northern North Sea platforms to the UK Government.
RockRose Energy has hailed the “expertise” of workers at the UK North Sea business it is acquiring from Marathon Oil.
RockRose’s swoop for Marathon Oil’s UK business will breathe new life and investment into “unloved and marginal” North Sea assets, an analyst said yesterday.
A UK safety watchdog has flagged up shortcomings on Marathon Oil's Brae Alpha platform in the North Sea.
Marathon Oil insisted last night it had still not submitted any plans for decommissioning one of the North Sea’s oldest producing fields to the UK Government.
Marathon Oil became the latest oil and gas major to post a massive cut in earnings in 2015 - revealing a $386 million loss for the three months to June 30.
North Sea oil workers at Marathon Oil are considering industrial action after bosses cut their satellite television and daily newspaper subscriptions.