North Sea EPC spend to top £2.8bn in 2021, about £1.8bn still to come – Westwood Global
North Sea engineering, procurement and construction (EPC) contract awards are anticipated to total more than $4 billion (£2.8bn) in 2021.
West of Shetland
Hurricane Energy shares rise as Crystal Amber holding goes above 25%
Shares in Hurricane Energy climbed this morning after activist fund Crystal Amber hoisted its holding in the troubled oil firm above 25%.
Cambo oilfield protestors occupy UK Government building in Edinburgh
A dozen activists have staged a protest at a UK Government building in Edinburgh in hope of convincing ministers to reject proposals for the Cambo oilfield, west of Shetland.
Crystal Amber says Bluewater ‘very keen’ to discuss longer stay for FPSO on Hurricane’s Lancaster field
Activist investor Crystal Amber says Bluewater Energy is “very keen” to discuss options for keeping its Aoka Mizu vessel on Hurricane Energy’s Lancaster field.
Hurricane non-exec directors jump ship ahead of key votes, CEO to stay on
Troubled UK oil producer Hurricane Energy’s five non-executive directors have decided to resign, rather than wait for ballots to be held on their positions.
Reabold confirms completion of environment baseline survey at Victory project
Reabold Resources has announced the completion of an environment baseline survey (EBS) at the Victory project, West of Shetland.
Former Hurricane Energy CEO Trice banked £650K pay as firm sank to £440m losses
Robert Trice, the co-founder and former CEO of Hurricane Energy, took a total pay package of £649,000 last year as the oil firm plunged to losses of £440million.
Stena Don rig on hire for Lincoln well abandonment job, Lancaster pump fixed, Hurricane says
Troubled UK oil firm Hurricane Energy said today that the Stena Don rig is now on hire to plug and abandon the Lincoln well, which it once hoped to develop, west of Shetland.
Equinor and Altera ‘fully engaged’ on study into use of Knarr FPSO for Rosebank project
Energy giant Equinor and Altera Infrastructure are “fully engaged” in a study that could result in the vessel owner’s Petrojarl Knarr FPSO being picked for the 300 million barrel Rosebank gig.
‘Traumatic year’ sees North Sea operators hand back up to 1.1bn barrels of oil
North Sea operators have handed back up to 1.1 billion recoverable barrels of oil from UK fields, according to data released by the Oil and Gas Authority (OGA).
Updated: Hurricane shareholders snub restructuring plan with court decision looming
Long-suffering shareholders of beleaguered UK oil producer Hurricane Energy have snubbed the company’s restructuring plan.
Updated: Hurricane hopes for vessel deal amid Bluewater marketing push, reports Lancaster well glitch
Hurricane Energy is holding out hope that a crucial deal will be reached on the Lancaster field production vessel, despite owners Bluewater marketing it for redeployment.
Siccar Point takes step towards investment decision on Covid-delayed Cambo
Private-equity backed Siccar Point Energy has taken another step en route to a final investment decision (FID) on Cambo, a major oil project west of Shetland.
Updated: Hurricane Energy wind-down could start in 2022 without revised vessel deal
Bosses at Hurricane Energy could start winding down the business as early as next year unless they can hammer out a revised vessel deal for the Lancaster field.
BP forms new pact to boost production from Clair Ridge after slow start
BP, Baker Hughes and Odfjell Drilling have formed a new alliance aimed at boosting production from Clair, western Europe’s biggest oilfield.
SSE profits up as spree of asset sales nears £2billion
SSE maintained healthy profits in 2020, despite the impact of the Covid-19 pandemic, racking up proceeds from assets sales of nearly £2billion.
‘Upheaval and frustration’ as Hurricane Energy sinks to losses of £440million
Hurricane Energy has sank to losses of £440million, underscoring the troubles of the west of Shetland operator.
Siccar Point losses widen as key Cambo and Rosebank decisions await
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.
‘All-subsea’ development among the options for BP at Clair South
Energy giant BP has confirmed that a subsea development is among the options being weighed up for its Clair South project, west of Shetland.
Updated: End of the line in sight for Hurricane Energy
Bosses at Hurricane Energy have conceded that the troubled UK oil firm is likely to be wound down within the next few years.
Hurricane reports unscheduled well intervention at Lancaster
Hurricane Energy said today that an “unscheduled well intervention” was required on its Lancaster field, west of Shetland.
BP preparing for removal of ‘iconic’ vessel from Foinaven field
BP has started preparing for the removal of the "iconic" floating production, storage and offloading vessel (FPSO) on its Foinaven field.
‘Another twitch in the death throes’ for Hurricane Energy
A major downgrade in reserves, a written-off discovery and warnings of a shareholder wipeout are a “real blow to investors and debt holders” of Hurricane Energy, an analyst has said.
Hurricane Energy: ‘No certainty of any future activity’ on West of Shetland assets
Hurricane Energy has stated there is “no certainty of any future activity” on its West of Shetland assets, including its flagship Lancaster field, following a new reserves report.
No movement on UK exploration activity since December
Westwood Global Energy reports that as of March 31 there was one exploration well and one appraisal well active in the UK, with no change since the end of December.