North Sea oil news

OKEA has said the Yme offshore project in the Norwegian North Sea, operated by Repsol, remains on schedule for first oil in 2H20.

The two affected sites are the Heather and Thistle/Deveron fields.

Unity will maintain wellhead equipment across twelve platforms in the East Irish Sea, Southern North Sea and the Dutch sector of the North Sea.

Around 20% of Europe’s mid- and small-sized oilfield service companies, the vast majority of which are British or Norwegian, are set to become insolvent, say Rystad.

The wider Greater Buchan Area in the UK North Sea contains discovered oil and gas resources in excess of 200 million boe.

Hydrocarbons were encountered at the Isabella exploration well, with 64 m net pay encountered, consisting of lean gas and condensate and high-quality light oil.

Activity reductions are planned in the Permian Basin, Egypt and the North Sea.

A surge in offshore well intervention activity over recent years is helping the North Sea develop into a global centre of excellence for innovative oilfield services.

The UK Oil and Gas Authority has halted its licensing rounds for offshore exploration acreage in the North Sea at least until next year.

Tailwind Energy will make a final investment decision on the Evelyn field, in the central North Sea, in 2020.