Israel’s Delek Group has taken a 13.18% stake in Aberdeen firm Faroe Petroleum after a £42.77million Christmas shopping splurge to boost its North Sea presence.
A former chief executive of Dana Petroleum has called on the Scottish Government to add fracking to its energy mix to fill a future gap in supply.
Dana Petroleum shaved £64million off its lifting costs bill last year and narrowed its losses.
SDX Energy is withdrawing from the Bakassi West project, offshore Cameroon as it concentrates on its core assets.
Fugro will supply ROV drilling support service on board the Ocean Guardian MODU in a new contract with Dana Petroleum.
SDX Energy has begun drilling on its high impact "transformational" Manatee-1 exploration well on Bakassi West in Cameroon.
Atlantic Offshore has secured a new ERRV contract for its Ocean Sprite vessel with Dana Petroleum Limited.
Dana Petroleum has said it is playing “the long game” on its flagship Western Isles project after confirming cost overruns had reached $400million. First oil on the project has been pushed back until 2017 after it emerged the project price tag has reached $2billion. A spokesman for the firm stressed the majority of the costs could be attributed to ensuring safety standards are met in the development of the project’s FPSO.
Four top bosses have been sacked by Dana Petroleum in a brutal restructure which has staff fearing for their jobs. The oil and gas firm confirmed last night that it has “removed” four managing directors, including Paul Griffin, chief of its UK operations. Netherlands boss Nick Dancer, Egypt boss Paul Barnett and Africa boss John Downie have also gone.