North Sea oil news

The company has provided an operational update on Standard Exploration Licence (‘SEL’) 1/11 that contains the Barryroe oil accumulation.

Entering into 2019, the global oil and gas industry remains cautiously optimistic as recovering oil prices have boosted companies’ profits and a rebound in new projects is expected.

The Oil and Gas Authority (OGA) has launched the Supplementary 31st Offshore Licensing Round, presenting an exceptional opportunity for oil and gas companies to collaborate to maximise economic recovery of up to 300 million boe in the Greater Buchan Area.

The EnCounter acquisition is the second transaction executed by Talon, as the Company looks to build on its newly incorporated UK North Sea strategy.

The Rowan Viking, an N-Class ultra-harsh environment jack-up rig, has been awarded a seven-well programme.

"At 250 million boe, CNOOC Ltd’s Glengorm is the largest gas discovery in the UK since Culzean in 2008,” Kevin Swann, a senior analyst with Wood Mackenzie’s North Sea upstream team, said after CNOOC and its partner Total announced the discovery.

The contract covers the delivery and installation of subsea equipment including umbilicals, rigid flowlines, flexible jumpers and subsea production systems.

The Glengorm discovery is located in License P2215 with a water depth of approximately 86 m.

Following Glendronach in September 2018, Total announces a new significant discovery in the North Sea offshore UK, on the Glengorm prospect located in the Central Graben.

The company’s wholly-owned subsidiary Lundin Norway AS has entered into an agreement with Lime Petroleum AS to acquire its entire Utsira High acreage position covering the Rolvsnes and Goddo basement area.