North Sea oil news

A leading energy economist has predicted that total field expenditures in the North Sea could amount to £268 billion over the next three decades.

OKEA has announced that Chrysaor, the leading oil & gas independent, has through its Norwegian subsidiary Chrysaor Norge A.S. entered into an agreement with OKEA to acquire a 15% interest in the PL038D license, covering the Grevling oil discovery in the Norwegian North Sea.

Collaboration is key to unlocking stranded five million bbl North Sea oilfield.

Archer and IKM joint venture opens up cost-effective pathway for world’s longest horizontal wells.

Between 12 and 16 oil and gas developments could get the go-ahead this year – unlocking investment of around £5 billion, reveals a key Oil & Gas UK report.

Leading international engineering company, PD&MS Group, has secured a trio of contracts worth more than £10 million across three major North Sea late-life projects in the last six months, making the firm the UKCS market leader in the area of engineering and construction of topside modifications for the decommissioning sector.

Prosafe has signed a contract with BP Exploration Operating Company Limited (‘BP’) for the provision of the Safe Caledonia semi-submersible accommodation vessel at the Clair Ridge platform West of Shetland in the UK sector of the North Sea.

Statoil and Total have completed their previously announced transaction whereby Statoil has acquired Total’s equity stakes in, and taken over the operatorships of, the Martin Linge field and the Garantiana discovery on the Norwegian continental shelf.

Spirit Energy has received consent to use Maersk Interceptor on the Oda field.

Bibby Offshore, a leading subsea services provider to the oil and gas industry, has announced three individual multimillion pound contract wins with an oil and gas supermajor.