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.