Losses at Siccar Point Energy more than doubled in 2020 as the North Sea operator looks ahead to key decisions on its flagship Cambo field and the Equinor-operated Rosebank.
BP has taken a $2.79bn (£2billion) impairment on the value of its oil and gas assets in the UK North Sea.
Shell has reiterated its “commitment” to the North Sea and West of Shetland, saying there is still “running room” in the region.
Odfjell Drilling has put 139 offshore workers at risk of redundancy after completing a drilling contract ahead of schedule.
BP notched up second quarter pre-tax profits of £700million, rebounding from a £2.5billion loss a year ago.
A stake in the Schiehallion field was the surprise inclusion in Shell’s $3.8billion North Sea asset sale to Chrysaor, an oil and gas analyst said today.
The Glen Lyon FPSO is expected to arrive at its new home in waters offshore Shetland on Sunday.
BP has reached a major milestone with the sail away of its Glen Lyon FPSO from the Hyundai Heavy Industries yard in South Korea to the Quad 204 redevelopment in Shetland.
Oil major BP said oil from its Schiehallion field in the UKCS will bypass the Sullom Voe Terminal (SVT) when it comes on stream again next year. The company, which also announced its third quarter results today, said initial production would head to Roterrdam citing technical reasons for the decision. Now it has been confirmed there will be no return to the island in the longer term.