According to Rystad Energy, the UK offshore oil and gas industry is stirring back to life, fuelled by a robust uptick in the number of field development projects on which operators are expected to reach a final investment decision (FID) this year.
The company has announced one of its largest US Gulf of Mexico exploration finds in the psat decade from the Wale deepwater well.
Noble Energy, Inc. announced that it has signed a definitive agreement to divest a 7.5% working interest in the Tamar field, offshore Israel, to Tamar Petroleum Ltd. for cash proceeds of approximately US$560 million and 38.5 million shares of Tamar Petroleum.
Spirit Energy is extending the life of one of its key North Sea fields by tapping into new reserves this year.
The new exploration discoveries are Capercaillie, which it a 100% owner of, and Achmelvich, which it has a majority stake in.
The agreement is for Shell’s stake in Blocks 15, 16 and 17 and Block G12/48.
At least one well will be drilled to follow-up and appraise the Verbier oil discovery this year.
Sec PV-10 value more than doubled to US$22.5 million while forward strip based PV-10 value was US$39.93
The late life extension strategy involves converting the TAQA-operated Eider Alpha platform into a utility platform as part of a wider programme designed to extend the life of TAQA’s wider NNS infrastructure in the years ahead.
Ecosse Subsea Systems (ESS) signalled its intent to expand in 2018 with the appointment of the company’s first Engineering Manager.
Taking place at the AECC on Wednesday 7 February, the ‘Scottish Enterprise Business Breakfast’, will provide guests with a networking opportunity whilst demonstrate the vast amount of diversification opportunities there are across the sector.
The US$3.3 billion Tyra Future redevelopment project is critical in enabling Denmark to achieve its gas supply requirements, while supporting future regional investments and protecting industry jobs, according to GlobalData.
Pemex, ExxonMobil, Shell are among the drillers contemplating bids.
Statoil has awarded Subsea 7 a sizeable contract for the Johan Castberg field development, located 240 km from Hammerfest in Norway.
OEG have delivered several high value remotely operated vehicles module contracts worth £1.8 million (US$2.5 million) for leading subsea contractors.