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North Sea oil news

New subsea technology could generate £3 billion from the North Sea

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.

 
 
 
 
 
 
 

Phoenix rising – UK offshore industry poised for surge of FIDs

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.

 
 

BP makes two new North Sea discoveries

The new exploration discoveries are Capercaillie, which it a 100% owner of, and Achmelvich, which it has a majority stake in.