The North Sea is undergoing a major reshuffle, Energy Voice now takes a look at some of the key developments so far in 2017.
EnQuest takes over BP assets including operatorship of Sullom Voe
Aberdeen-based offshore firm EnQuest pledged to extend the life of one of the North Sea’s oldest oil fields after taking over from BP as operator of the Sullom Voe terminal last week.
EnQuest’s deal to run the huge facility on Shetland and the Magnus field was hailed last night as “the beginning of a new era” for the industry.
The company will take on 340 BP employees after buying a £70million stake in Magnus and Sullom Voe.
EnQuest boss Amjad Bseisu said: “This is really a very good example of maximising economic recovery.
“We feel we can extract value as well as extend the life of the terminal.”
Read more here.
Bright future ahead for changing map of the North Sea
The UK’s leading figure for the exploration and production sector has hailed BP’s mature asset handover to EnQuest as a positive sign of changes in the pipeline.
Mike Tholen of Oil and Gas UK said more mid-level acquisitions could revive the sector in the years to come.
Find out why here.
Shell’s great North Sea asset sell-off
Shell has agreed to sell a set of UK North Sea assets to Chrysaor for up to $3.8billion (£3billion).
The package includes Shell’s interests in Buzzard, Beryl, Bressay, Elgin-Franklin, J-Block, the Greater Armada cluster, Everest, Lomond and Erskine, plus a 10% stake in Schiehallion.
They contributed more than half of Shell’s UK North Sea production last year.
Read more about the deal here.
BP weathers the storm
BP’s North Sea president Mark Thomas told Energy Voice how the supermajor had weathered the storm of turbulant oil prices.
In an exclusive guest column Thomas explained how they had managed to half the production cost of a barrel of oil for its North Sea operations.
And he said he was “cautiously optimistic and excited” about the future of the region.
Read his guest editor column here.
Video – everything you need to know about the Culzean development.
And finally check out the video on the North Sea flagship ‘mega-find’ – The Culzean gas field.
Watch it here.
Recommended for you
