UK-based exploration and production firm Ithaca Energy has agreed to buy non-operated stakes in three producing fields from Sumitomo Corporation. The deal, worth about US$170 million, will see Ithaca take a further 20% interest in the Shell-operated central North Sea Cook field…
Paul de Leeuw, a visiting Professor at Aberdeen Business School, has been appointed as the first director of Robert Gordon University’s International Institute for Oil and Gas. With extensive experience in the oil and gas industry Professor de Leeuw will take up his new role in July…
The nominees for the 2014 ONS Innovation Awards have been announced. According to ONS, whose 2014 theme is 'Changes,' the jury has evaluated all of the applications for the ONS Innovation Awards. The award will be presented in two different…
Maersk Oil UK has awarded Denmark's Ramboll Oil & Gas the detailed design for the Culzean wellhead jacket. The project will be Ramboll’s first major involvement in the Culzean field, and it also marks the largest substructure design by Ramboll for the North Sea…
Two dry exploration well results have been announced offshore Norway. The Norwegian Petroleum Directorate said the Statoil Petroleum operated wildcat well 7324/2-1, 'Apollo,' which was the first well in production licence (PL)615…
Figure 1: The Cygnus field is the sixth largest gas field in the southern North Sea and the largest to be discovered in the last 25 years within the southern North Sea gas basin.Image from GDF Suez. A…
Statoil will pay COSL Offshore Management (COM) a one-time settlement of US$65 million under an agreement reached today that ends disputes related to the stand-by fees of two semisubmersible platforms. The stand-by fees stemmed from the installation of third-party equipment…
The Offshore Technology Conference (OTC) honored Carl Arne Carlsen, senior vice president and member of the Governing Board at DNV GL, with the Distinguished Achievement Award for Individuals at the 2014 conference in Houston this May…
BG Group has agreed to sell its equity interest in the Central Area Transmission System (CATS) gas pipeline in the UK North Sea and associated infrastructure to Antin Infrastructure Partners for £562 million (US$954 million). Under the agreement…
As the PESGB reaches 50, 2014 President Oonagh Werngren takes stock of the North Sea oil & gas industry. At the start of 2014, I was fortunate enough to take up the reins as president of the Petroleum Exploration Society of Great Britain (PESGB)…
UK-based exploration firm Faroe Petroleum raised has £65 million in a stock market placing, which had hoped to raised £45 million. The firm, focused on Norway, the Atlantic Margin, and the North Sea, the cash will be used to pursue…
CAN Group announced today that it has secured two major contract renewals, totalling approximately £200million. Along with an increase in business, the two contracts will lead to the safe-guarding of 150 jobs. The Aberdeen headquartered…
The UK offshore industry's new regulator is to be named the Oil and Gas Authority and will be based in Aberdeen, the UK's Chief Secretary to the Treasury announced in the Scottish city today. Rt Hon Danny Alexander MP also opened the…
Premier Oil's central North Sea Catcher field development plan has been approved by the UK Department of Energy and Climate Change. The Catcher area is expected to produce 96MM boe, with a peak production rate of around 50,000 bo/d. The…
AGR and Ross Offshore have both this week announced frame agreements with Norwegian clients. AGR won a five-year frame agreement, with several extension options, with BP Norge for consultancy services. AGR's Norwegian team, based in Stavanger…
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