Capricorn noted that it had been working on โstrategic alternativesโ for more than a year. However, there have been no better options, it reported, and a sale is necessary to โmaximise shareholder value and the full potential of Capricornโs assetsโ.
Taqaโs share of the decommissioning bill for the Greater Brae Area (GBA) has increased by more than $350 million after a licence partner defaulted on its liability.
A study by the Net Zero Technology Centre (NZTC) has found high capex costs remain a barrier to electrifying North Sea assets, but rising carbon taxes and net zero targets may yet spur development.
With conflict in Ukraine and sanctions on Russia continuing to exacerbate supply issues, rising energy prices are fuelling new opportunities for private equity in the European oil and gas industry.
The Hummingbird Spirit FPSO will head off from the North Sea today to the Cromarty Firth - ahead of an uncertain future for the vessel which could see it scrapped.
Regulators have approved TAQAโs plans to remove a section of the remaining jacket structure at Brae Bravo, following a successful topsides decommissioning campaign last year.
Centrica has concluded the sale of the majority of Spirit Energyโs Norwegian assets to Sval Energi, and its interests in the Statfjord field to Equinor, as it focuses on UK gas production and energy transition projects.
Shell has spudded its hotly tipped Edinburgh exploration well near the UK-Norwegian border โ potentially one of the largest remaining undrilled structures in the central North Sea.
Spirit Energy has awarded Heerema Marine Contractors a contract for removal and disposal of a trio of southern North Sea assets, with further options for work on a wider portfolio.
North Sea focused Waldorf Production has started exclusive talks to buy the assets of Dutch oil and gas company ONE-Dyas BV, according to people familiar with the matter.