TotalEnergies has agreed to sell a 20% stake in a package of West of Shetland assets to Kistos Energy in a deal worth more than $165 million (£123 million).
Total E&P UK enjoyed an increase in turnover last year, buoyed by a 26% boost to production.
Profits at construction and engineering firm Costain climbed 25% last year on the back of its “on-going transformation” efforts.
Energy industry veteran Algy Cluff has called for a renewed focus on maximinsing recovery of North Sea oil and gas reserves.
Two more UK North Sea fields are up and running after a near-£1billion investment by operator Total.
Total this morning confirmed it had successfully started production from its Edradour & Glenlivet gas and condensate fields, located in about 300 to 435 metres of water in the West of Shetland area.
Faroe Petroleum has completed the sale of its share in a North Sea gas field to Total for £10million. The company sold its 10% interest in the undeveloped Glenlivet gas field as it looks to directing its focus on projects elsewhere in Norway and the UK.