More than 7,800 wells were drilled on the UK continental shelf over the 50 years through to the end of 2017.
A new report from the Oil and Gas Authority (OGA) has highlighted that the number of plugged and abandoned wells in the North Sea has overtaken fresh drilling as exploration continues to drop.
Malaysian oil firm Hibiscus Petroleum has completed the acquisition of stakes in two UK North Sea discoveries for £28.5 million.
New North Sea projects targeting almost 50 million barrels of oil equivalent (boe) have been approved by the Oil and Gas Authority (OGA).
The Oil and Gas Authority’s approval of two North Sea projects has given the basin an injection of “old and new” money, an analyst has said.
Zennor Petroleum will go ahead with the Finlaggan field development after the UK oil regulator approved its plans.
The Oil and Gas Authority (OGA) has given BP permission to go after 20 million barrels of oil at a field west of Shetland.
A new energy export conference is to be hosted in Aberdeen next year to present £100billion worth of project opportunities for UK companies.
The Oil and Gas Authority (OGA) has announced it will open a new licensing round, targeting up to 300million barrels of oil in an under-developed area of the North Sea.
The UK’s oil sector regulator has presented a bold vision of what the future might hold for a major terminal in Shetland.
A ‘use it or lose it’ warning has been issued as it emerged a number of top operators don’t have North Sea drilling plans.
UK North Sea oil field projects commanding capital spending of almost £2 billion have already been sanctioned this year, representing a big increase on 2017 levels, the Oil and Gas Authority (OGA) has said.
Steps have been taken in Westminster to make sure one of the key planks of the Wood Review is put in place, the Oil and Gas Authority (OGA) said.
Offshore regulator the Oil and Gas Authority (OGA) has said the industry is showing an “insatiable appetite for transparent data” following the latest licensing round.
Over the past few years, the oil and gas sector has been faced with the severe challenges of a prolonged industry downturn. This has had a profound impact on our sector, changing the way both asset operators and the supply chain approach new project developments, especially in key areas such as the North Sea.
Several oil explorers, including Aberdeen’s Faroe Petroleum, have said they are targeting “multiple new discoveries” following the latest North Sea licensing round.
The head of decommissioning at the Oil and Gas Authority has said operators remain “very uncertain” over their costs for shutting down North Sea assets.
North Sea production efficiency had risen for the fifth consecutive year, hitting 74% in 2017, the Oil and Gas Authority (OGA) said.
Cluff Natural Resources (CLNR) has announced plans to raise £750,000 through share placing ahead of the next North Sea licensing round.
The Oil and Gas Authority (OGA) in January started the roll-out of new measures to ensure operators better engage the supply chain in future projects.
The amount of money being spent by North Sea operators on research for new technologies has dropped by 36% since the oil price crash.
The Oil and Gas Authority (OGA) is to move ahead with plans for a UK-first database which is “vital” for maximising North Sea recovery.
A specialist in oil and gas law has warned that a lack of clarity over a strategy to maximise oil recovery from the North Sea could cause issues when it comes to decommissioning.
The chairman of the UK's energy regulator has urged the sector to "keep drilling and keep working together" as he stands down from the role.
It’s exactly three years since I joined the OGA, and alongside the chief executive and team members, we worked with our colleagues in DECC (now part of BEIS) to decide how, against the backdrop of the colossal challenges staring the industry in the face, we could build the Oil and Gas Authority to support industry and make a meaningful difference.