Repsol Sinopec Resources UK (RSRUK) is looking forward to reaping the rewards of a major North Sea investment by delivering further reductions in lifting costs.
Montrose Area Redevelopment
The man behind a major North Sea project said yesterday he was proud to have overcome the downturn by bringing a new oil field on stream.
A flagship £1.6billion North Sea project is expected to come onstream at the end of next month despite substantial delays caused by bad weather.
Repsol Sinopec Resources UK (RSRUK) has extended the charter for an offshore accommodation vessel for its Montrose Area Redevelopment (MAR) by a further two weeks.
Repsol Sinopec Resources UK (RSRUK) said yesterday that its flagship £1.6billion North Sea project was still on track despite extending a contract for an offshore accommodation vessel.
Repsol Sinopec Resources UK (RSR UK) managed to narrow its losses significantly last year against a backdrop of low oil prices.
Net income at Spanish energy firm Repsol rose 35% to 1.12billion euros in the first nine months of 2016.
The redevelopment of the Montrose Area (MAR) will serve as the North Sea’s litmus test, according to its project manager.