Ukcs News


Premier Oil, BP North Sea Deal Falls Through

Oct 06, 2020

Premier Oil abandoned its plans to buy North Sea fields from BP for $210 million after Premier was taken over by rival Chrysaor, marking a small dent in BP's $25 billion disposals target.'Premier will not be proceeding with the proposed refinancing…

Chrysaor, Premier Oil Set to Merge

Oct 06, 2020

Two UK-based offshore oil and gas companies Premier Oil and Chrysaor are set to merge in an all-stock transaction. Premier Oil also said that its proposed acquisition of BP's North Sea assets will not take place.In a joint statement released Tuesday…

Premier Oil Gets Some Breathing Space from Creditors

Oct 01, 2020

Creditors of Premier Oil have extended a waiver for the group's debt covenant test until Nov. 5, Premier said on Thursday, granting it breathing space to avoid an immediate debt crunch and work on a longer-term plan.Premier needs to convince…

Report: Premier Oil Wants Another Price Cut for BP North Sea Deal

Sep 24, 2020

Struggling oil and gas producer Premier Oil has begun talks with BP to lower for the second time a $210 million deal to acquire stakes in two North Sea oilfields, sources told Reuters on Wednesday.Premier is seeking to reduce the cash payment…

Archer Nets $100M Drilling Services Extension with Apache in North Sea

Sep 24, 2020

Oilfield services company Archer has won a four-year contract extension to provide platform drilling and maintenance services for Apache in the UK North Sea.The contract covers services aboard the Beryl Alpha and Bravo, Forties Alpha, Bravo…

"Key Milestone": Subsea Construction Works Start at Neptune's Seagull Field

Sep 23, 2020

Oil and gas company Neptune Energy has informed that subsea construction works have kicked off that will eventually see its Seagull offshore field tied back to BP's ETAP platform in the UK North Sea.Seagull is a high pressure, high temperature…

UK North Sea Road to Net-Zero: £430B Investment Required

Sep 16, 2020

'Reimagining the North Sea as an integrated energy system is essential for the UK and Scotland to achieve their net-zero ambitions. But we need to invest now to close the gap on the key technologies needed to make this ambition a reality,' Colette Cohen OBE…

UK to Release 'Extremely Valuable' Historic North Sea Seismic Data

Sep 15, 2020

The UK oil and gas regulator Oil and Gas Authority will release historic North Sea seismic data, saying the move will be beneficial both for oil and gas explorers and those looking for carbon capture and hydrogen storage sites.'Explorers, organizations…

Premier Oil in Financing Talks with Chrysaor, Others

Sep 15, 2020

Premier Oil Plc said on Tuesday it was in talks with private-equity backed oil producer Chrysaor and several other parties on alternative deals to secure long-term debt refinancing.Premier announced on Aug. 20 that it was seeking a total of $530 million in fresh equity…

Subsea 7 Orders JDR Umbilicals for IOG's Elgood Field

Sep 15, 2020

Subsea umbilical and cable company JDR has won a contract with Subsea 7 to supply a 9.3km production and control umbilical, topside equipment and subsea terminations for the offshore Elgood field in the UK Continental Shelf.Elgood, operated by Independent Oil and Gas…

Premier Oil: Tolmount Jacket, Topside Set Sail (VIDEO)

Sep 15, 2020

London-listed oil company Premier Oil has informed that the completed jacket and topside are now en route to the company's Tolmount field in the UK sector of the North Sea.The 500 bcf field, sanctioned in 2018, had been on schedule for first gas by the end of the year…

Ithaca Energy Awards Petrofac a 5-Year North Sea Services Contract

Sep 15, 2020

The North Sea-focused oil company Ithaca Energy has signed a 5-year Integrated Services Contract with oilfield services provider Petrofac.Under the contract, Petrofac will provide engineering, construction, maintenance, and offshore manning…

Well-Safe Buys Seadrill Rig for North Sea P&A. Move to Create 100 New Jobs

Sep 14, 2020

UK-based offshore decommissioning company Well-Safe Solutions has bought Seadrill's 1993-built West Epsilon jack-up rig, in a move that the company says will create a 100 new jobs.This will be Well-Safe's second rig in the fleet following the…

Shell Starts Production from Fram Field

Sep 10, 2020

Oil major Shell has kicked off production from its Fram gas and condensate field in the UK North Sea, two years after making a final investment decision for the project.The field, discovered in 1969, is located around 221 kilometers (137 miles)…

Exploration Potential in North Sea Still Exists, Spirit Energy Says after Winning Six UK Blocks

Sep 04, 2020

Oil and gas company Spirit Energy has been awarded six new licenses in the UK North Sea as part of the UK's 32nd Offshore Licensing Round.Spirit was handed operatorship in three of the licenses; Medusa, Bucephalus and Cavendish N extension, and partnership in the remaining three…

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