North Energy completed the acquisition of Explora Petroleum for a cash payment of US$2.5 million this week. Image from North Energy. The transaction was implemented through the…
UK-based exploration minnow Cluff Natural Resources (CLNR) has entered into a further memorandum of understanding (MOU) with Halliburton. The move will see the pair to collaborate on the development of CLNR's southern UK North Sea gas…
Wood Group PSN says it is to reduce rates paid to about a third of its UK-based contractors by about 9% 'in response to continuing cost and efficiency challenges affecting the UK North Sea oil and gas sector.' Wood Group, which already…
UK-based heavy oil explorer Xcite Energy says it is hopeful it could submit a fully-funded first phase development plan for its Bentley heavy oil field by the end of 2016. The firm's hopes have been raised after being given an extension…
Norway's Det norske is expecting sailaway of the Ivar Aasen devlopment topsides in late may, with installation offshore Norway expected for July 2016. In a market update, the firm said key activities for the project, on the Utsira High…
Norway-based Harding was awarded contracts to deliver lifeboats and davits to the Culzean offshore gas complex, that will be constructed for Maersk Oil UK by Sembcorp Marine subsidiary SMOE Pte. Image from Harding…
Malaysian independent exploration firm Hibiscus Petroleum is set to become a UK North Sea operator after receiving regulatory and shareholder approval for its acquisition of a 50% stake in the Anasuria cluster. It will be the firm's first producing asset…
Norway’s decommissioning market has the potential to be the second largest in the North Sea after the UK Continental Shelf, according to Oil & Gas UK’s first Norwegian Continental Shelf Decommissioning Insight report. The report, which provides a forecast for the region over the next decade…
Funding worth £1.8 million (c2.4 million euros) has been awarded to a group of European scientific institutions as part of a major initiative to improve the understanding of the influence of man-made structures, including oil and gas platforms and wind farms…
Dana Petroleum has successfully completed the drilling of the Lille John-2 appraisal well and side-track on the Lille John oil field in license 12/06 in the Danish North Sea last week. Map from Dana Petroleum…
Dana Petroleum awarded Atlantic Offshore an emergency response rescue vessel (ERRV) contract to support the Ocean Guardian semisubmersible in the UK North Sea. Atlantic will use its Ocean Sprite ERVV in the contract, which is for two wells estimated at 70 days each…
Forsys Subsea, the joint venture between FMC Technologies and Technip, has been awarded a contract from Statoil to provide a subsea front-end engineering and design (FEED) study for subsea tie-back of Trestakk to Åsgard A floating production…
Statoil has awarded Heerema Fabrication Group (HFG) the contract for the engineering, procurement and construction (EPC) of the unmanned wellhead platform at Oseberg Vestflanken 2, as well as the transport and installation of the platform…
Aker Solutions saw a 16.5% drop in its revenue in Q4 2015 as the market activity declined, especially in the North Sea, that will result in the company to slow down activity, reduce costs, and streamline its maintenance, modifications, and operations (MMO)…
Despite posting an increase in profits, Danish drilling firm Maersk Drilling has warned that there's a need for a different cost level in the offshore drilling industry. The firm posted US$751 million profits for 2015, up from $478 million in 2014…