Oil firm Decipher Energy hopes to sanction a project to “maximise the value” of the Orlando field in the northern North Sea early next year.
Bosses at Decipher Energy, of Aberdeen, have said they could intervene to help the 10 million barrel Orlando field reach its full potential.
North Sea newcomer Decipher Energy has delivered first oil from the Orlando field less than two years after taking over the 10 million barrel project from a victim of the downturn.
First oil from the Orlando field in the North Sea should be achieved before the end of March, a former project partner said.
Energy consultancies Rystad Energy and Wood Mackenzie expect 13-14 North Sea developments to have reached final investment decisions (FID) by the end of this year.
The boss at North Sea newcomer Decipher Energy has confirmed that a well will be drilled on its Orlando licence in the near future.
Former energy minister Charles Hendry has landed a new job as deputy chairman of Atlantic Petroleum.
Atlantic Petroleum’s boss said yesterday that the firm would “never say never” to investing in the UK North Sea in future, despite pressing ahead with plans to exit the basin.
North Sea independent Decipher Energy has struck a deal to buy a 25% stake in the Orlando oil field north-east of Shetland.
The main suitor for Iona Energy has dropped its bid for the defunct firm after one of its backers decided to pull out.
Atlantic Petroleum said it has been advised by Bridge Petroleum that it is unable to complete the the transaction for a 25% share of the North Sea Orlando asset.
Atlantic Petroleum said it has entered into a sale and purchase agreement with Bridge Petroleum for its 24% interest in the Orlando development.
Solar panels that will help with the power needs of Walt Disney World are shaped like the famous ears of the mouse that started the Disney enterprise.
The boss of defunct oil junior, Iona Energy, said he remained hopeful a buyer can be found for the Orlando oilfield in the North Sea, despite a deal that would have saved the company falling through at the last hurdle.
North Sea oil company Iona Energy said today its bond debt refinancing plan had significant support from investors.