North Sea oil news

Total investments in the project, intended to extend the lifetime of the Alvheim field, are projected at around US$1 billion and production is scheduled to start in 1Q24.

The companies say that the new unit will aim to recycle as much of the materials from decommissioned offshore platforms as possible.

Dagang NeXchange has increased its stake in Ping Petroleum to 90%.

OGUK's Methane Action Plan for the North Sea includes targets to reduce methane emissions by 50% compared to 2018, committing to 0.20% methane intensity by 2025 and stopping all routine flaring by 2030.

Production from the Breidablikk field in the North Sea is scheduled to start in the first half of 2024.

Last year, the Centre transitioned its seven existing solution centres into one Net Zero Solution Centre, with three core programmes, focused on reducing emissions, developing integrated energy systems and unlocking a digitised offshore energy sector.

The FPSO is located in UKCS Block 13/28a on the Blake and Ross Fields, 72 miles north east of Aberdeen, since 1999.

John Wiseman, Fairfield Energy, looks at how the unique challenges presented by the decommissioning of the Dunlin Alpha platform were overcome by the company working together collaboratively with its supply chain partners.

Flaring is currently responsible for a fifth of UK offshore oil and gas production-related carbon dioxide emissions and 1% of total UK annual CO2 emissions.

The latest preliminary estimates from the King and Prince exploration wells show volumes between 60-135 million barrels of recoverable oil equivalents.