The North Sea semisubmersible (semisub) market hit 100% utilisation at the height of summer this year, however the reality is that shrinking supply has accentuated this, rather than soaring demand.
Jersey chief executive Andrew Benitz said the firm's achievements have been marred by "fiscal and political turmoil" which has forced them to take measures including a 50% cut in staff and director salaries.
NEO Energy, and its 100% owner HitecVision, have announced that they are slowing down investment activities due to UK fiscal and political instability.
North Sea observers decry "utter economic insanity" as UK government confirms windfall tax increase and extension to March 2030.
Viaro, TotalEnergies and Ping Petroleum have all been tipped to slow progress on UK projects due to political uncertainty.
Jersey Oil and Gas (LON:JOG), a partner in the Buchan project, has confirmed that first oil will now come in 2027 following the call for a UK general election.
Jersey Oil and Gas duo warn current polices are threatening energy security and hurting long-term UK economic growth.
Serica Energy (LON:SQZ) has completed its acquisition of a 30% non-operated interest in the Greater Buchan Area (GBA) redevelopment from Jersey Oil and Gas (LON:JOG).
Operator NEO Energy submits environmental statement for Buchan redevelopment in Moray Firth.
The Aberdeen firm has won a multi-million-pound North Sea deal from Neo Energy.
Serica Energy (LON: SQZ) has announced it will acquire a 30% non-operated interest in the North Sea's Greater Buchan Area development from Jersey Oil and Gas (JOG).
Progress on engineering plans for the redevelopment of the Greater Buchan Area (GBA) are gathering pace following selection of an FPSO.
NEO Energy has selected an FPSO for the Greater Buchan Area oil redevelopment in the North Sea.
The North Sea Transition Authority has granted a licence extension to Jersey Oil and Gas for its Buchan field.
Talks are ongoing with “multiple, serious counterparties” as Jersey Oil and Gas tries to find a partner for its Greater Buchan Area (GBA).
Jersey Oil and Gas (JOG) has announced changes at its top table as the company reaches a “pivotal” stage in its growth.
Jersey Oil and Gas has said area plans to electrify central North Sea platforms are "building momentum".
Jersey Oil and Gas (JOG) has taken further steps to underline its ESG credentials with a new “carbon policy”.
A Schlumberger study has brought a “significant uplift” to resource estimates at the Buchan oilfield in the North Sea, Jersey Oil and Gas (JOG) has announced.
Jersey Oil and Gas is back on the hunt for partners to develop its Verbier discovery after energy giant Equinor decided to sell back its 70% stake.