North Sea oil news

The Iris/Hades (Aerosmith) well is located in the Halten Terrace, some 200 km offshore in the Norwegian Sea and adjacent to the producing Morvin and Aasgard fields.

Transocean Norway Operations AS with the drilling rig Transocean Arctic is awarded the contract to drill production wells at the Dvalin field in the Norwegian Sea.

Bob Ruddiman, Head of Oil and Gas at legal firm Pinsent Masons, welcomed Chancellor Philip Hammond’s Budget concessions on Transferable Tax Histories for North Sea oil and gas operators.

Western Isles (Dana 77% and Cieco 23%) is now producing from the Harris and Barra oilfields in the Northern North Sea, 160 km east of the Shetlands and 12 km west of the Tern field.

INEOS UK SNS Limited has agreed to take a majority share in two exploration licenses in the Northern Gas Fields West of Shetland which contains the Lyon prospect, from Siccar Point Energy E&P Limited.

Aker BP ASA has entered into two separate alliance agreements, one with Maersk Drilling and Halliburton for Jack-Ups, and one with Odfjell Drilling and Halliburton for semisubmersibles.

The company’s ERRV Ocean Troll, will provide Emergency Response and Rescue services for Maersk Oil’s Culzean project in the central North Sea. The Charter is the first Fire Fighting Class II (Fi-Fi II) ERRV to have operated in the UK sector.

The operator became the largest independent E&P company in the region following the US$3 billion deal with Shell earlier this year to acquire the platforms as part of a larger asset package.

The package of assets consists of Shell’s interests in Buzzard, Beryl, Bressay, Elgin-Franklin, J-Area, the Greater Armada cluster, Everest, Lomond and Erskine, plus a 10% stake in Schiehallion.

Now with the responsibility for a strategic UK asset that delivers almost 40% of the UK’s North Sea oil and gas output, INEOS has further strengthened its long term oil and gas activity.