The North Sea energy industry is facing some of its “most difficult and most testing challenges” ever as it today marks 45 years since first oil was landed in the UK.
BW Energy is planning to reach a final investment decision (FID) on its Ruche development, in Gabon’s Dussafu licence, in the last quarter of the year. Further growth is expected to come from August’s Hibiscus discovery. The company continues to hold the Kudu gas project, in Namibia, but like many others before it, progress appears slow.
Hurricane Energy’s boss today hailed the firm’s “incredible achievement” of delivering first oil from its flagship North Sea field on time and within budget.
North Sea newcomer Decipher Energy has delivered first oil from the Orlando field less than two years after taking over the 10 million barrel project from a victim of the downturn.
Production has begun from the Maersk Oil-operated Flyndre field which straddles the UK and Norwegian North Sea.
London-listed RockRose Energy has continued its North Sea buying spree with the acquisition of assets formerly owned by collapsed First Oil.
Scores of oil and gas firms have gone to the wall since crude prices collapsed in the second half of 2014. This gallery looks at 10 companies who did not make it to the end of 2016.
Premier Oil today confirmed first oil for its Solan field.
BNP Paribas SA and its partners in a Scottish energy loan are staring at a loss of 122 million pounds ($172 million) after entrepreneur Ian Suttie’s venture went bankrupt, illustrating the wreckage banks are likely to face from the oil bust.
The price of oil is notoriously fickle. We’ve seen the worst of that over the last two years – and you could even say in the last three months.
Eni confirmed it had successfully started production on its landmark Goliat oilfield, two years after its initial first oil target day.
Zennor Petroleum today confirmed it had completed the purchase of First Oil’s subsidiary First Oil Expro and Antrim Resources.
Zennor Petroleum is on the hunt for more UK North Sea bargains after snapping up assets that were owned by north-east businessman Ian Suttie and his First Oil group.
Administrators have begun the task of securing what they can following the demise of Aberdeen oil company First Oil.
Two business controlled by multimillionaire Aberdeen businessman Ian Suttie have reported plummeting profits amid the global oil and gas downturn.
Ithaca today confirmed the start-up of its Greater Stella Development would be delayed until the third quarter of this year.
Ian Suttie has reportedly placed his flagship First Oil up for sale as declining oil prices batter the sector’s financial books.