There are several hubs around the North Sea which will still be producing in a decade’s time – but 12 of these will be “key” thanks to their production upsides and emissions intensity, according to new research.
West of Shetland
Proposals to decommission the Foinaven floating production storage and offloading (FPSO) vessel have been approved by government.
Hurricane Energy has predicted that the end of its flagship Lancaster field’s production life will arrive at around the end of 2023.
Hurricane Energy (LON: HUR) expects to get some extra barrels out of its flagship Lancaster field, as set out in a new competent person’s report.
Work for a trio of giant floating wind projects off the coast of Scotland have gone to the UAE fabricator Lamprell, sparking outcry.
Equinor has confirmed the sanction date for the Rosebank project in the West of Shetland has been pushed back to next year, after Ithaca Energy made the claim last night.
Ithaca Energy has struck a deal to buy Siccar Point Energy, operator of the controversial Cambo project, for just shy of $1.5 billion.
Securing an extension to the Cambo licenses affords Siccar Point Energy time to find the right partner to progress the project.
Siccar Point Energy and Shell have been granted a two-year extension to the licences for the Cambo oil field, paving a potential future for the project.
BP is seeking to sell its beleaguered Foinaven field in the west of Shetland, according to a news report.
Industry leaders have been debating as news emerges that Shell is reconsidering its exit of the Cambo oilfield.
Shell has said it is working with Siccar Point Energy and the UK Government to “map out the next steps” on the Cambo project.
Equinor has put pen to paper on a contract with Altera Infrastructure to use the Knarr FPSO at the Rosebank field in the West of Shetland.
TotalEnergies has agreed to sell a 20% stake in a package of West of Shetland assets to Kistos Energy in a deal worth more than $165 million (£123 million).
Westwood Global Energy reports that as of 24 January there were two exploration wells active in the UK.
The North Sea is one of just a handful of regions “falling behind” as offshore oil and gas investment returns to pre-pandemic levels around the world.
Hurricane Energy (LSE: HUR) says no production issues have arisen at Lancaster despite it falling below the ‘bubble point’ last month.
Equinor has said it will provide an update on the concept for the Rosebank project in the West of Shetland later this year.
Plans have been submitted to the UK Government to develop the Victory gas discovery in the West of Shetland.
Hurricane Energy (LON: HUR) has said "no further action is necessary" having completed a review into its failed restructuring plan earlier this year.
Kistos (LON: KIST) has confirmed it is bidding to acquire assets being put on sale by TotalEnergies in the West of Shetland.
BP has agreed to acquire the stakes of Viaro Energy in the beleaguered Foinaven field in the west of Shetland.
A couple of weeks ago, a Scottish green party MSP claimed that it is only the “hard right” who continue to support development of the Cambo oilfield on the UK Atlantic Frontier.
Siccar Point Energy has said it is "pausing" the Cambo oil project in the West of Shetland after Shell decided to pull out of the controversial development.