By Stephen Coomber, senior analyst, Westwood Global Energy Group
As of 24 February, Westwood Global Energy reports that there are two exploration wells, with one each in the NNS and SNS, and one appraisal well active in the CNS. Since the previous report, one exploration well has completed at Orlov.
Norwayโs Equinor is reportedly considering the purchase of UK oil assets held by Chinese state-backed operator CNOOC International, according to a Norwegian newspaper.
The North Seaโs new class of operators could be poised to further strengthen their dominance in the basin with several major assets expected to hit the market.
EnQuest (LON: ENQ) plans to carry out its largest sanctioned programme of work since 2014 in the coming year, with a range of drilling and decom in the pipeline.
EnQuest took a hit to its production in the first half of 2021 after a series of unplanned issues at Magnus, as well as a drop in output from its flagship Kraken field.
Exploration and production firm EnQuest managed to reduce its debt pile to its lowest level since 2014 and narrow its losses in 2020 despite the oil price slump.
Canadaโs Suncor Energy Inc. is exploring the sale of a handful of oil and gas fields in the North Sea, according to people with knowledge of the matter.