Ministers have been criticised over plans for a new North Sea oil and gas project, which could be approved just months before Scotland is due to host a global climate conference.
Private-equity backed Siccar Point Energy has taken another step en route to a final investment decision (FID) on Cambo, a major oil project west of Shetland.
Losses at Siccar Point Energy more than doubled in 2020 as the North Sea operator looks ahead to key decisions on its flagship Cambo field and the Equinor-operated Rosebank.
The next 24 months will see a “rebound” in work for the UK North Sea, according to Westwood Global, with a clutch of offshore projects for contractors to keep an eye on.
Shell has named the UK North Sea as one of nine “core positions” for its oil and gas business going forward, as it today revealed its net zero strategy.
The global focus and dependency on fossil fuels and shift towards low carbon energy has been building for many years, but only in the last 18 to 24 months has it become a leading agenda item in national and international political arenas.
By Jon Fitzpatrick, managing director, Gneiss Energy
Energy Voice recently reported on Shetland Islands Council's ambitions to retain more tax revenue from oil and gas operations around the isles in its self-determination bid. Jon Fitzpatrick, managing director of consultancy Gneiss Energy, gives his view.
Shell’s boss has said the firm will “probably” have to reduce its headcount and “resize” parts of the organisation the longer the oil price slump lasts.
Siccar Point Energy has announced it will defer approval of its highly-anticipated Cambo development until the second half of next year due to the coronavirus outbreak.
Every major oil firm in the UK and Norway is now engaged in talks on electrification of offshore platforms, according to energy services giant Baker Hughes.
Lerwick harbour continues to add to its reputation as a leading support hub for the oil and gas industry in northern waters through its contribution to the offshore sector’s operations west of Shetland.
Siccar Point Energy has reached another checkpoint en route to a final investment decision (FID) for its 900 million barrel Cambo project off Shetland.
The design for the Cambo field, west of Shetland, will take some of the sting out of a problem that has “held back” production from the area for decades, an oil company chief said.
Siccar Point Energy has handed out a contract for the front end design of a production vessel for the 800-million barrel Cambo project, north-west of Shetland.
Westwood Global Energy reports that at the end of April, three exploration wells were active, with two in the West of Shetlands and one in the Central North Sea.