Development News


Hibiscus Pushes North Sea Field Development FID to March 2021

Dec 09, 2020

Malaysian oil and gas operator Hibiscus Petroleum has said that the final investment decision for the development of its Marigold cluster in the UK North Sea, will be made in March 2021, and not in December 2020, as previously expected, citing Covid-19 effects…

Kato Energy Files Amulet Offshore Project Proposal

Sep 04, 2020

Australian oil and gas company Kato Energy has filed an offshore project proposal for the development of the Amulet field - and possibly the Talisman field - on the North West Shelf, offshore of mainland Western Australia (WA).The field, located 132 km north of Dampier…

Norway: Tax Breaks Revive Some Offshore Oil Investment Plans

Aug 20, 2020

Oil and gas investment in Norway, Western Europe's top producer, will rise more this year and decline less in 2021 than predicted a few months ago, an industry survey by the statistics office (SSB) showed on Thursday.Petroleum companies, including Equinor…

Leading Service Providers to Help Develop Barryroe Offshore Field

Jul 31, 2020

Irish oil and gas explorer Providence has shared a list of industry-leading service providers that are set to help develop its Barryroe oil and gas field offshore Ireland.Providence has been in Barryroe farm-out discussions with Norway-based SpotOn Energy…

EnQuest to Take Over Operatorship of Bressay Field from Equinor

Jul 31, 2020

Norwegian oil and gas company Equinor will sell a 40.8125% interest in and transfer operatorship of the Bressay oil field development on the UK continental shelf to UK-based EnQuest. The initial consideration is GBP 2,2 million (USD 2,8 million)…

Trinidad: BHP, NGC Sign Ruby Field Gas Sale Deal

Jul 23, 2020

BHP and the National Gas Company of Trinidad and Tobago have successfully completed negotiations for a Gas Sales Agreement for the Ruby offshore field.The Ruby oil and gas field is located in Block 3(a), off the east coast of Trinidad, and is…

Twinza, PNG Gov't in Talks over Fiscal Terms for Offshore Field Development

Jul 17, 2020

Oil and gas company Twinza has started negotiations with the Papua New Guinea authorities regarding the fiscal terms that will apply to the proposed development of the Pasca A gas-condensate offshore field.The shallow water field in the Gulf of Papua was discovered in 1968 but was never developed…

Aker BP: NOAKA Offshore Development to Cost $5.3B

Jul 14, 2020

Norwegian oil firm Aker BP and its partners plan to invest more than 50 billion Norwegian crowns ($5.30 billion) in the NOAKA development off Norway, the company's chief executive said on Tuesday.The NOAKA area located between the Oseberg and…

Aker BP Files $600M Hod Field Development Plan

Jun 24, 2020

Norwegian oil firm Aker BP, with its partner Pandion Energy, has filed the plan for development and operation (PDO) of the Hod offshore field to the Ministry of Petroleum and Energy. The Hod field will be developed using a normally unmanned…

Equinor Resumes Martin Linge Work, after Coronavirus-linked Halt

Mar 27, 2020

Norway's Equinor has restarted work at its Martin Linge development in the North Sea following a haltafter an offshore worker tested positive for coronavirus, the company said on Thursday.'We are gradually stepping up activities again. We have cleaned and disinfected facilities…

Husky Suspends West White Rose Works on COVID-19 Fears

Mar 24, 2020

Canada's Husky Energy has decided to suspend construction activities on its West White Rose offshore project, citing the COVID-19 virus fears.The oil company sanctioned the West White Rose development in May 2017. The field is being developed…

Repsol Sinopec to Tie-In Tain to Bleo Holm FPSO

Mar 17, 2020

UK-based oil and gas operator Repsol Sinopec is planning to apply for permission for the development of the Tain field in the Central North Sea, offshore the UK.The Tain field is located in Block 13/23b.  The Tain field will be developed by…

Santos Reviewing Spending Plans. Freezes Hiring, No Mass Job Cuts Planned

Mar 17, 2020

Santos Ltd, Australia's No. 2 independent gas producer, said on Tuesday it is reviewing all its capital spending plans in light of the collapse in oil prices and would stop all new hiring.Santos had planned to spend $1.45 billion in 2020, including $500 million on major growth activities…

Kosmos Energy to Slash Headcount, Costs

Mar 17, 2020

Oil and gas company Kosmos Energy is set to slash both capex and opex, and will suspend dividend payment citing the need to maintain balance sheet and preserve flexibility during the oil price volatility.'At the 4Q19 results, we guided to a…

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