Ping Petroleum is pressing ahead with plans to develop the Avalon field in the UK North Sea, hailed by bosses as a “pioneering scheme” to slash production emissions from oil and gas.
BP (LON: BP), Ithaca Energy (LON: ITH) and Equinor (OSLO: EQNR) will see the valuations of their West of Shetland oilfields increase by half a billion dollars after electrification, according to analysis.
Hydrogen will not have a major role in the future of heating homes across the UK, according to a new review of more than two dozen independent studies.
Oil and gas accounts for 25% of CO2 emissions from Norway. Quite simply, if the industry doesn’t step up then the country cannot meet its climate targets.
A pioneering offshore wind firm has unveiled details of its multi-billion pound INTOG plans; aimed at decarbonising “every platform” sitting in Scottish waters of the North Sea.
Electrification efforts will prove “beyond all doubt” that the North Sea can produce oil and gas in a climate-compatible way, the regulator has claimed.
Offshore Energies UK (OEUK) will host key operators and the North Sea Transition Authority (NSTA) at an upcoming event examining how the North Sea can reduce emissions through the electrification of offshore platforms.
“A really opportune moment” beckons for Serica Energy, according to chief executive Mitch Flegg, with gas prices strong, new production online and, since the turn of the year, reaching a major milestone for its North Sea business.
“More energy and less emissions” is how TotalEnergies’ North Sea boss summarises the company’s strategy for the coming years. And that, broadly speaking, is reflected across the plans of others too.
An alliance exploring offshore platform electrification in the UK can act as the “glue” that binds together a range of stakeholder interests and make projects a reality.