North Sea oil news

In an operations update, the company said it remains focused on operating in a low oil price environment.

Planned 2020 CAPEX on the company's UK producing assets is expected to be below US$45 million, reduced from the original forecast of US$65 million.

Engineering for the two well hook-ups at the Brage platform will start immediately.

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.