Production is underway at Harbour Energy’s Tolmount field, a source close to the company has confirmed.
Harbour Energy has outlined a clutch of projects expected to get underway in the North Sea this year, including new wells at the J-Area and Catcher field.
Dana Petroleum took a £45 million write down after its shock exit from the Platypus development in the North Sea.
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.
North Sea operator Harbour Energy expects the start-up of its delayed Tolmount project in Q1 2022 and downgrades field reserves, as it lays out plans for a £150million annual dividend policy.
North Sea engineering, procurement and construction (EPC) contract awards are anticipated to total more than $4 billion (£2.8bn) in 2021.
Harbour Energy has confirmed that its Tolmount development is on course to start up production at the end of next month.
A fire on board and other equipment failures cut production at the Premier Oil Catcher FPSO by nearly a quarter last year.
Experts from EY, Wood Mackenzie and NorthStone Advisers say setting renewable energy targets will be high on oil and gas firms' agendas.
Premier Oil has pushed back the timeline for sanctioning its Tolmount East development in the North Sea.
Premier Oil is in "final negotiations" with contractors ahead of an investment decision being made on the proposed Tolmount East development.
The boss of Premier Oil has said he is "delighted" with a commercial discovery at the firm's Tolmount East well in the Southern North Sea.
Premier Oil has started drilling an appraisal well at its Tolmount East discovery in the Southern North Sea.