Bosses at Decipher Energy, of Aberdeen, have said they could intervene to help the 10 million barrel Orlando field reach its full potential.
First oil from the Orlando field in the North Sea should be achieved before the end of March, a former project partner said.
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.
Atlantic Petroleum said the company will not be paying a debt instalment to Eik Bank in the Faroe Islands this month. The company said the the amount of DKK19.55mm on its DKK58.5MM debt will not be met.
North Sea oil company Iona Energy is facing insolvency after a proposed restructuring deal fell through.
Canadian oil producer Iona Energy increased North Sea production in the second quarter to June.
Independent oil and gas company Iona Energy has made changes to its senior management team. The company, which has a number of assets in the North Sea, announced four new appointments. Robert Gair will join the team from Trinity Exploration and Production as chief financial officer and Kevin Holley has become its corporate controller.