North Sea oil news

Production start at the King Lear field, located in the North Sea, is planned for 2025.

The combined flow from both wells during a 72-hour production test earlier this week reached and maintained the planned production rate of 20 000 bpd.

The licences are situated in the Moray Firth and East Shetland Platform.

PGNiG Upstream Norway holds an 11.92% interest in the Ærfugl project in the Norwegian Sea. The operator is Aker BP, while the other partners are Equinor Energy and Wintershall DEA.

A final investment decision is planned to be taken by May 2022.

The contract is with DeepOcean to support the hook-up and commissioning of the Valhall Flank West project, operated by Aker BP.

Over the past six months, the company has been awarded contracts for the Total Tyra redevelopment project, an inspection, repair and maintenance campaign for Repsol Sinopec, a decommissioning contract with Spirit Energy, and a scale squeeze scope for Premier Oil’s Huntington field.

Kevin Swann, senior research analyst, North Sea upstream at Wood Mackenzie, said: “The deal continues the UK trend of smaller companies taking on assets from the majors."

In partnership with KPMG and supported by Fraser of Allander Institute, the Aberdeen and Grampian Chamber of Commerce has issued their 30th annual oil and gas survey.

An oil and gas sector logistics expert has outlined six practical steps the industry’s businesses trading with the EU should be taking now to prepare for a no-deal Brexit.