Details of oil and gas climate checkpoint – that could herald North Sea ‘resurgence’ – imminent
A new dawn for North Sea could be imminent with long-awaited details about the UK’s climate compatibility checkpoint expected shortly.
A new dawn for North Sea could be imminent with long-awaited details about the UK’s climate compatibility checkpoint expected shortly.
Wood Mackenzie researchers say the government’s windfall tax measures are likely to wipe around 20% off the value of North Sea operators on average, with the impact largely dependent on current tax and investment status.
Equinor is hoping its £8 billion Rosebank project can “trigger” wider electrification across the West of Shetland region.
The former CEO of BP, who warned the industry of its impact on the climate 25 years ago, has said rising calls to cease new oil and gas in the North Sea should be tempered amid a need for homegrown supply.
Equinor (OSLO:EQNR) and its Rosebank partners expect to spend around £80 million on modifications to the Knarr FPSO which will ready the vessel to run on low-carbon power.
News that Equinor is pushing ahead with the development of a major North Sea oil and gas field appears to have split opinion at Aberdeen University.
Britain needs to keep developing new oil and gas fields in the North Sea even as it rolls out major offshore wind and carbon capture and storage projects across the country, according Shell’s (LON: SHEL) UK head of upstream.
An environmental group is claiming Equinor will pay millions of pounds less in tax if the North Sea Rosebank field gets the go ahead.
Sval Energi has signed an agreement to acquire Suncor Energy’s Norwegian business, as the Canadian group looks also to sell off its UK assets amid a pull back from the North Sea.
Equinor (OSLO:EQNR) has published economic analysis for its long-awaited Rosebank project, which sets out commitments to support thousands of UK jobs and invest billions of pounds in the local supply chain.
Equinor (OSLO:EQNR) has submitted a key document in relation to the Rosebank development, allaying fears it was considering ditching the £8.1 billion project.
Contractors are buoyant as spending on offshore EPC over the next five years totals $276 billion, a 71% increase compared to the preceding five-year period - according to a Westwood Insight report.
Global energy project delays, stemming from tight supply chains, delivered a big blow to subsea tree awards in the first half of the year.
Equinor’s North Sea boss has reinforced the Norwegian energy giant’s commitment to developing the Rosebank project.
Equinor has dismissed "speculation" suggesting it has “threatened to abandon” the £4.5bn Rosebank project due to the UK windfall tax.
Following the approval of Shell’s Jackdaw field, analysts are weighing in on whether the move signals an acceleration on reported government plans to “fast track” key North Sea fields.
Equinor has been handed an extension to the Rosebank licences – paving the way for an investment green light.
The North Sea and West of Shetland has 48 known discoveries with 2.3 billion barrels of oil equivalent, and new research has shed light on the challenges in getting them developed.
Six months ago, UK North Sea oil and gas faced the bleakest outlook in its 50-year history.
Operators are cracking on with decommissioning with numerous wells in line to be plugged and abandoned (P&A) in the coming months, particularly West of Shetland.
Key North Sea oil projects currently in the pre-final investment decision (FID) phase could deliver nearly 1.5 billion barrels, according to new research.
Equinor has confirmed the sanction date for the Rosebank project in the West of Shetland has been pushed back to next year, after Ithaca Energy made the claim last night.
Ithaca Energy has struck a deal to buy Siccar Point Energy, operator of the controversial Cambo project, for just shy of $1.5 billion.
Equinor has put pen to paper on a contract with Altera Infrastructure to use the Knarr FPSO at the Rosebank field in the West of Shetland.
The government will reportedly aim to fast-track approvals of key oil and gas fields this year, as the Chancellor pushes for continued North Sea investment.