Venture believes Cygnus will be a major gas field
Venture Production, the Aberdeen oil and gas operator, said yesterday it now believed the Cygnus discovery would prove to be one of the UK's largest remaining undeveloped gas fields.
Oil boss sacked as firm begins court action
Sibir Energy has announced the launch of high court proceedings in Russia against two ex-directors; one of them the former Aberdeen lawyer Henry Cameron.
Faroe disappointed by Norwegian well
FAROE Petroleum, the Aberdeen-headquartered oil and gas company, reported mixed results yesterday from a well drilled on the Hyme prospect in Norwegian waters.
Venture’s production up by 15% in first quarter
VENTURE Production, the oil and gas operator which has its headquarters in Aberdeen, said yesterday that its production during the period January 1 to April 1 averaged 51,300 barrels of oil equivalent per day (boepd) - up 15% on the same period last year.
Noble Denton becomes part of German group
NOBLE Denton, which provides marine and offshore engineering services globally to the energy industries, has become part of the German-headquartered Germanischer Lloyd Group.
Boss stresses need to drive down costs
A director of Maersk Oil North Sea UK said yesterday it saw continued good business opportunities in the UK, but believed it was essential to drive down costs.
Providence buoyed by well’s potential
IRISH oil and gas operator Providence Resources said yesterday it had achieved better-than-expected results from a development well on its onshore Singleton oil field near Chichester in West Sussex.
Investor may sell 5.4% stake in Venture
Speculation was mounting yesterday that private equity investor 3i was planning to sell its 5.4% stake in Venture Production, the oil and gas operator which has its headquarters in Aberdeen.
Greenland exploration potential lifts Cairn
Cairn Energy, the Edinburgh-based oil and gas operator, said yesterday its exploration acreage off Greenland could hold billions of barrels of oil.
Gas discovery off Moroccan coast fuels Dana’s optimism
Dana Petroleum said yesterday it had made a significant gas discovery at Anchois, in the Tanger-Larache licence, with its first well offshore Morocco.
Oil and gas operator Bowleven shares take a tumble
SCOTTISH oil and gas operator Bowleven saw its share plunge yesterday after it said its potential suitor had revised its indicative cash offer of 150p a share announced on March 18 down to 100p.
Xcite Energy buoyed by Bentley field’s potential
Xcite Energy, the heavy oil and UK North Sea-focused company, said yesterday it was planning for the next phase in development of the Bentley oil field in block 9/3b south-east of Shetland.
Firm has funds earmarked for energy-sector investment
Venture-capital group Energy Ventures said yesterday it had more than £70million at its disposal for investment in hi-tech companies working in the upstream oil and gas sector.
PSN signs up to technology partnership
PSN (Production Services Network), the Aberdeen-based oil and gas service company, is the latest organisation to join oil and gas industry technology facilitator ITF.
Prudence Melrose’s mantra this year
MELROSE Resources, the Scottish oil and gas operator with interests in Egypt, Bulgaria, Romania, America, France and Turkey, said yesterday it was not immune to the global downturn.
Plexus products gaining momentum with oil majors
PLEXUS Holdings, the Aberdeen-based oil and gas engineering service business, said yesterday its results for the six months to December 31 were in line with management expectations.
C-MAR course aims to provide quick fix
A NEW training course launched by Aberdeen-based C-MAR Group is claimed to help improve maintenance and reduce costly downtime offshore.
Caledyne’s global award for engineering excellence
CALEDYNE, an Aberdeen-based energy industry engineering service and product specialist, will be recognised in America in May with a global award for its retrievable metal-to-metal (MTM) downhole seal system.
Carna gas find ‘opens up’ new area of North Sea
Venture Production, which is a possible takeover target for British/Scottish Gas owner Centrica, has confirmed a new gas find in the UK southern North Sea.
Cosalt pleased with first-quarter trading
COSALT, which provides safety equipment and services to the offshore oil and gas and marine industries, said yesterday that trading in its first quarter to January 26 had been in line with its expectations.
Centrica ups stake in Granite City energy firm
Venture Production saw its share price rise again yesterday just a day after it soared more than 26.5% to 734p on news of British and Scottish gas owner Centrica paying almost £230million to buy a 22% stake in the Aberdeen-based oil and gas operator.
North Sea operator reports record financial performance
Venture Production, the Aberdeen-based oil and gas operator, has reported a record financial performance in 2008.
Arrow decides not to continue pursuit of Pure
BG GROUP has taken a further step towards buying Australian coal-seam gas producer Pure Energy Resources for about £480million after rival bidder Arrow Energy, of Australia, decided to let its offer lapse.
Sterling Resources takes over operatorship at Sheryl
Sterling Resources has taken over operatorship of the Sheryl oil discovery in the central North Sea from Oilexco North Sea (ONS), which went into administration in early January.
Innovation day hailed as ‘great success’
INDUSTRIAL service provider BIS Salamis has hailed an innovation day it held yesterday at its skill centre in Broadfold Road, Bridge of Don, as a great success.