Wood Mackenzie and the Oil & Gas Technology Centre announced that developing new subsea technology and approaches to field developments could help unlock 400 million additional bbls of oil and gas and generate £3 billion of additional value.
Effective immediately, the contract is for two years with three one-year extension options, and includes the provision of rigging and scaffolding services on the facility, currently operating in the Pierce field.
Phase 1 of the Johan Sverdrup project continues to progress according to plan and is now close to 70% complete.
The well results will be used to precisely estimate the reserves and plan the development of the discovery, in which PGNiG Upstream Norway holds a 20% interest.
Following consolidation of the former OIS Ltd decommissioning personnel into InterMoor, the decommissioning team have added four further wells to the 128 they have successfully abandoned for Operators in the North Sea since 1996.
International specialist equipment and integrated engineering services company, Sparrows Group, has secured a three-year contract with Repsol Sinopec Resources UK Limited to provide crane management services across its operating assets in the North Sea.
Faroe Petroleum has announced the commencement of the Fogelberg appraisal well and contingent sidetrack 6506/9 – 4A & 4S in the Norwegian North Sea (Faroe 28.3%).
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.
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.