North Sea oil news

BP currently holds a 27.5% non-operated interest in the Shearwater condensate and gas field, operated by Shell, in the UK Central North Sea.

The contract, which started in January 2021, has been awarded for three years and extends 80:20’s coverage to all of TEPUK’s North Sea assets.

The site survey is expected to commence at the end of July 2021 and be completed in 3Q21.

The company, founded in 2015, is believed to be close to appointing JP Morgan to explore a listing or sale to a rival.

The drilling programme for well 16/1-34 S concerns the drilling of an appraisal well in production licence 167. Lundin Energy Norway AS is the operator with an ownership interest of 40%.

Finder Energy has acquired the UK North Sea P2502 and P2524 licences from Azinor Catalyst Ltd.

The Haltenbanken East project will be developed as a unit between four different licences, and comprises six discoveries and three prospects with a combined volume in the order of 100 million boe, mostly gas.

The Dvalin North discovery, estimated to hold between 33-70 million boe, is 12 km north of the company’s operated Dvalin field, and 65 km north of the operated Maria field.

A recent report by Wood Mackenzie for the Oil & Gas Technology Centre stated the growth in offshore renewables, hydrogen and CCUS could more than double the economic impact of the UKCS, contributing £2.5 trillion to the UK economy and creating over 200 000 new jobs.

TechnipFMC will design, manufacture, deliver and install subsea equipment for Ithaca Energy's Captain EOR project.