North Sea oil news

Shell's decision last week not to progress the Cambo oilfield project in the UK North Sea means the development is being paused.

Orcadian Energy, Orsted and Katoni Engineering must now complete work on their studies by 31 March 2022, with project reports to be published in 2Q22.

Shell said in a statement that it had "concluded the economic case for investment in this project is not strong enough at this time, as well as having the potential for delays".

Petrogas will employ the harsh-environment jack-up rig Maersk Resilient to drill the appraisal well.

Piping spools and umbilicals will be removed using the Utility ROV Services system (UTROV), a remotely-operated tool carrier equipped with multiple attachments for the recovery of subsea equipment.

The Buzzard Phase II development in the UK North Sea is expected to reach its peak production of approximately 12 000 boe/d in 2022.

Aibel has been contracted for work at the Krafla field development and the Asterix discovery in the Norwegian Continental Shelf.

Start-up is expected in 2Q22, and the project will run for approximately 1 month.

The data collected from Licence P2428 will now be processed by ION Geophysical to pre-stack depth migration with the final results expected to be delivered in 2Q22.

The extension will include one additional well at the Fenja field and two exploration wells within core areas of the Norwegian sector.