Ukcs News


Premier Oil Seeking Discount from BP to Buy North Sea Oilfields

May 13, 2020

Premier Oil is asking BP to cut the sale price of two North Sea oilfields in a proposed $625 million deal due to weak oil prices, Chief Executive Tony Durrant said on Wednesday.The company is also talking to shareholders, creditors and brokers…

Rem Offshore Clinches Platform Supply Vessel Deal

May 13, 2020

Norwegian offshore vessel owner Rem Offshore has said it has secured a new contract for the Rem Insula platform supply vessel.In a social media post on Tuesday, Rem Offshore said that the contract would take the offshore vessel through 2020 and into 'smooth waters in 2021…

Petrofac Clinches More North Sea Work with BP

May 12, 2020

UK-based oilfield services company Petrofac has been awarded a three-year extension to a maintenance contract and a new four-year metering contract with the oil major BP.Petrofac said Tuesday that the metering services contract included on and offshore consulting and support services…

Serica Hires WilPhoenix Offshore Rig for Rhum Well

May 12, 2020

Serica Energy has hired Awilco Drilling's WilPhoenix semi-submersible drilling rig for the intervention work on the Rhum-3 ('R3') well in the UK North Sea.The 3rd-Generation, Enhanced Pacesetter, harsh-environment, mid-water, semi-submersible…

IOG Taps Subsea 7 for North Sea Project SURF

May 07, 2020

Offshore installation company Subsea 7 has won a contract by Independent Oil and Gas (IOG) to provide Subsea, Umbilicals, Risers, and Flowlines (SURF) for Phase 1 of IOG's Core Project in the UK Southern North Sea.Subsea 7 will be responsible for the project management…

Petrofac Wins $100M+ in UK Contract Renewals

May 06, 2020

UK-based oilfield services company Petrofac has said that its Engineering & Production Services business (EPS) has been awarded two three-year renewals in the UK, worth a combined total of more than US$100 million. Both awards come with options to extend beyond the initial term…

IOG's North Sea Gas Development Plan Approved

May 04, 2020

UK-focused oil company Independent Oil and Gas (IOG) has informed that its field development plan for Core Project Phase 1 in the UK North Sea has been approved by the UK Oil and Gas Authority.The Core Project comprises gas resources across six discovered UK Southern North Sea ('SNS') gas fields…

Petrofac Delays North Sea P&A Program. Awilco's Rig on Standby Rate

May 04, 2020

Awilco Drilling has said that it has reached a deal with Petrofac to delay the start of the plug and abandonment works with Awilco's WilPhoenix offshore rig.Awilco in March announced the rig deal with Petrofac Facilities Management for its 1982…

Premier Oil Allowed to Delay Debt Repayment, Raise Equity for BP deal

Apr 29, 2020

A British court on Wednesday approved Premier Oil's plans to extend debt maturities by two years and raise up to $500 million in equity to buy North Sea assets from BP and others, but the deal depends on market conditions, Premier said.Activist hedge fund ARCM…

EnQuest to Axe 530 Jobs in UK

Apr 29, 2020

UK oil and gas producer EnQuest is planning workforce reductions in the UK as some of its North Sea fields are expected to cease production, while others will remain shut as part of a recently announced cost-cutting initiative.When it comes to the planned workforce cuts…

UK: Around 30,000 Offshore Oil & Gas Jobs at Risk

Apr 29, 2020

Up to 30,000 jobs could be lost in the UK's offshore oil sector as companies grapple with the effects of the coronavirus pandemic and a 20 year low in oil prices and a 14 year low for gas, Oil & Gas UK has warned.The industry is expected to see a dramatic reduction in revenue…

Large E&P Firm Shows Interest in Corallian's Offshore Block

Apr 29, 2020

Corallian Energy, with its partners Upland Resources and Baron Oil, has signed a work-sharing agreement with a 'large European E&P company' that might lead to a farm-out of a stake in the offshore license P2478 in the Inner Moray Firth, Scotland…

UK Offshore Workers Call for Gov't to Invest in Oil Projects

Apr 27, 2020

British unions representing offshore workers said on Monday the government should invest taxpayer money directly into oil and gas projects to save the sector rather than extend welfare payments to furloughed staff.In a joint statement, the unions said they expected around 3…

Floatel's Rig Charter with Ineos Delayed till 2021

Apr 23, 2020

Offshore accommodation rig provider Floatel International has seen its contract with Ineos FPS delayed.Floatel said Thursday that the two companies have agreed to postpone the charter for the Floatel Victory accommodation unit at the Unity platform in the UK North Sea to April 2021…

Repsol Sinopec Increases Petrofac's North Sea Workload

Apr 23, 2020

The UK-based oilfield services firm Petrofac has won more work from Repsol Sinopec Resources UK for offshore maintenance operations on oil platforms in the UK North Sea.Petrofac said Thursday it was preparing to extend its provision of operations…

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