NSTA is expected to greenlight the Shell Victory project in the West of Shetland ‘within the coming months’
Environmental regulator OPRED has opened up a public consultation on the new project which sits 29 miles off Shetland.
A host of North Sea environmental statements (ES), lodged between April and August, are still to be rubber stamped, with some expected to receive sign off before the year is out.
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A rebel investor group - that is hoping to oust the board of a North Sea oil and gas company - has secured backing from an unlikely supporter.
An unnamed “oil and gas major” has struck a £32 million deal to acquire the controlling stake in West of Shetland operator Corallian Energy.
Corallian Energy has submitted an environmental statement for its proposed development of the Victory field, a subsea tieback due to come online in 2024.
Oil and gas company Reabold Resources has received a conditional, non-binding offer from a “credible party” for its major share in Corallian Energy.
Plans have been submitted to the UK Government to develop the Victory gas discovery in the West of Shetland.
The Victory discovery in the west of Shetland has been given a £47million boost to its value after finding more recoverable gas.
London-listed upstream investor Reabold Resources has agreed to loan North Sea oil firm Corallian Energy £1 million, subject to shareholder approvals.