North Sea oil news

Geologists at the University of Aberdeen have discovered a huge swathe of the North Sea left unexplored for oil and gas because of so-called ‘phantom’ volcanoes they have proven don’t exist.

The company, which is the operator of production licence 248 C, has completed the drilling of wildcat well 35/11-22 S.

The PSA has given Aker BP consent to use the Deepsea Stavanger mobile drilling facility for production drilling on the Volund field in the North Sea.

The company has entered into a binding, conditional farm out agreement and a three-month exclusive option with Shell UK Limited.

The projects will be executed by two of Shearwater’s multi-purpose vessels using proprietary technology during the 2019 North Sea summer season.

The Norwegian Petroleum Directorate has granted Aker BP ASA a drilling permit for wells 24/9-15 S and 24/9-15 A.

United Oil & Gas Plc has announced the results of an independent Competent Person’s Report prepared by ERC Equipoise Ltd.

The company has provided an operational update on Standard Exploration Licence (‘SEL’) 1/11 that contains the Barryroe oil accumulation.

Entering into 2019, the global oil and gas industry remains cautiously optimistic as recovering oil prices have boosted companies’ profits and a rebound in new projects is expected.

The Oil and Gas Authority (OGA) has launched the Supplementary 31st Offshore Licensing Round, presenting an exceptional opportunity for oil and gas companies to collaborate to maximise economic recovery of up to 300 million boe in the Greater Buchan Area.