EnQuest's £230 million acquisition of the remaining 75% interest in the Magnus oil field from BP has been completed.
Forty years ago, Shetland changed forever.
EnQuest bosses said today that the company had received the all-clear from shareholders to increase its stake in the Magnus field.
A leading north-east businessman has taken up a new role managing the day-to-day operations of Sullom Voe oil terminal in Shetland.
EnQuest has completed the first ship-to-ship transfer of crude oil at Shetland’s Sullom Voe terminal for three years.
EnQuest reportedly called off plans to sell stakes in its Kraken field and instead borrowed money against it as a debt deadline approached.
The UK’s oil sector regulator has presented a bold vision of what the future might hold for a major terminal in Shetland.
EnQuest bosses said yesterday its acquisition of 75% of the Magnus field, giving it 100%, would deliver a huge “step change” for the oil firm.
Oil firm EnQuest said today that it would exercise an option to buy the remaining 75% interest in the Magnus field from BP for £230 million.
Malaysia’s Bumi Armada fell to a second quarter loss due to charges relating to the Kraken FPSO.
Oil firm EnQuest said strong production performance had helped it wipe out £37 million worth of debt early.
A gas build-up on a North Sea platform exposed workers to an explosion risk, a new safety report said.
Production has restarted at two North Sea fileds after pipework repairs at the connected Sullom Voe Terminal on Shetland.
EnQuest's chief financial officer will sleep rough in London tonight to help raise money for charity.
Enquest says it is waiting on the “right offer” for the sale of a 20% stake in its Kraken field in the North Sea.
Enquest has announced it is set for a boost in production in 2018, bolstered by its North Sea Kraken development.
Scottish oil firm Cairn Energy said yesterday that it would get to work on its first operated exploration well in UK waters later this year.
North Sea oil firm Spirit Energy has appointed EnQuest's former chief operating officer as its technical and HSE director.
There could be a “glut or a delay” in North Sea merger and acquisition activity towards the end of 2018, as firms wrap their heads around the prospect of transferable tax history legislation.
North Sea oil producer EnQuest said today it had managed to knock down the cost of its Kraken field project, which started producing in June.
Odfjell Drilling has put forward another revised pay offer after north-east workers voted to reject earlier proposals.
A deal to put EnQuest in charge of decommissioning two North Sea fields should drive down costs, an analyst said yesterday.
Enquest this morning confirmed it has struck a $50million deal with BP to absorb the decommissioning management of two of the oil major's North Sea fields.
An issue with the water supply at the North Sea Magnus platform, which led to a contamination issue with diesel last year, has now been fixed.
North Sea oil firm EnQuest is trying to sell a 20% stake in its £2billion Kraken field, a news report said.