Hungarian oil and gas company MOL has signed a deal to sell its entire upstream portfolio in the UK North Sea to Waldorf Production.The divested offshore assets include MOL’s 20% stake in the Catcher field, a 50% stake in Scolty & Crathes, and a 21…
British North Sea-focused oil producer EnQuest on Thursday reported its highest free cashflow in 2021 of $397 million, almost double the previous year, thanks to higher oil prices.EnQuest, with a market capitalization of $730 million, reduced its net debt by the end of last month to $1…
BP, through its BP Ventures, has made a £3 million equity investment in Flylogix – an unmanned aerial vehicle (UAV) business that uses drones to aid methane detection in the offshore oil and gas industry sector.The financial injection is part of a funding round led by Amati Global Investors…
Norway's Equinor is ramping up production at its Snorre B platform in the North Sea after shutting it down earlier on Monday following an earthquake, the company told Reuters.'We started on this actually a couple of hours ago already, so we're…
Oilfield services company Petrofac has won two-year operations and late-life asset support contract extension with Spirit Energy in the UK North Sea.Under the contract, Petrofac will provide operations and maintenance support for Spirit Energy’s York platform in the Southern North Sea…
Britain will likely run a North Sea offshore oil and gas licensing round for existing discoveries this year, a spokesperson for the Oil and Gas Authority (OGA) said on Monday.The OGA, which is changing its name to the North Sea Transition Authority (NSTA)…
UK offshore oil and gas regulator the Oil and Gas Authority on Monday announced the name change to the North Sea Transition Authority (NSTA) 'to reflect its evolving role in the energy transition.''In 2021, the OGA revised our strategy to put…
Shell on Friday released an amended plan for the development of a major North Sea gas field which British regulators initially rejected last year on environmental grounds.Shell said in the new environmental development plan of the Jackdaw field that it aims to start production from the field…
Offshore helicopter operator CHC's acquisition of Babcock's oil and gas aviation business has raised competition concerns in the UK.Following an in-depth Phase 2 investigation of the completed acquisition, the UK Competition and Markets Authority…
UK-based oil and gas company Serica Energy has resumed production from its Rhum gas field in the UK North Sea, following a shutdown in February.As previously reported, Serica on February 28 said it had paused production from the Rhum gas field…
Harbour Energy, the British North Sea's biggest oil and gas producer, reported on Thursday free cash flow of $678 million for 2021 in its first full-year results after its merger with Premier Oil, up from a pro-forma $562 million in 2020.It forecast that…
UK-North Sea-focused oil and gas firm IOG on Wednesday confirmed first gas production from the Elgood field, part of Phase 1 of its Saturn Banks Project. 'Following the confirmation of first gas at Blythe on Monday, the company yesterday also brought Elgood into production…
Danish offshore drilling company Maersk Drilling has won a contract that could employ its Maersk Resolve jack-up drilling rig with an undisclosed client in the UK sector of the North Sea for the majority of 2022.The contract is expected to start in April 2022…
Aberdeen-based Balmoral Comtec, part of Balmoral, has agreed to invest a seven-figure sum to create an advanced composites manufacturing facility on the quayside at Scotland's Montrose Port where large-scale components for the offshore energy sector will be built…
UK Prime Minister Boris Johnson hosted a meeting with leaders of the UK offshore oil and gas industry on Monday to discuss energy security and investment in the North Sea, his spokesman said.'We've been clear that the energy firms, these suppliers…
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