Petrofac reaches binding agreement with creditors on financial restructure
North Sea energy services firm Petrofac has entered into a binding agreement with key financial creditors on the terms of a comprehensive financial restructuring plan.
North Sea oil and gas
Aberdeen’s READ Cased Hole acquired by Norwegian investors in multi-million pound deal
Aberdeen-headquartered well integrity services firm READ has been acquired by a group of Norwegian investors in a multi-million pound deal.
Aberdeen’s Mermaid Subsea plugs 30 North Sea wells in 2024
Aberdeen-headquartered Mermaid Subsea Services UK has successfully plugged and abandoned (P&A) 30 wells in the UK North Sea using the Island Valiant vessel.
Altrad growth steadies in 2024 after multiple acquisitions
French engineering giant Altrad has recorded lower revenue growth in 2024 after completing multiple acquisitions in recent years of "transformative growth".
North Sea decommissioning expansion facing ‘speed bumps’, report finds
The North Sea is unlikely to see rapid growth in decommissioning due to several "speed bumps" slowing the shut down of assets, according to analyst firm Wood Mackenzie.
UK court dismisses case against Viaro over North Sea decom dispute
A UK court has dismissed a case against a subsidiary of North Sea oil producer Viaro Energy relating to decommissioning costs for the Brae field.
North Sea operator Orcadian Energy acquires shares of HALO
North Sea operator Orcadian Energy (AIM:ORCA) has acquired the shares of HALO Offshore UK Ltd from the joint liquidators of Hague and London Oil plc (HALO).
Hartshead starts spending on North Sea project after budget ‘clarity’
North Sea operator Hartshead Resources (ASX:HHR) is progressing the first phase of its Anning and Somerville after receiving "clarity" from the UK budget.
Trust and transparency make ‘Mission Impossible’ possible
Global Underwater Hub chief executive Neil Gordon discusses the challenge of securing effective subsea collaboration among oil and gas operators.
Jake Molloy on how death of colleague inspired mission to save North Sea lives
Former RMT union boss and offshore health and safety campaigner Jake Molloy talks about the ‘wild west’ days of the North Sea oil and gas industry.
Norway’s oil and gas towns seeking UK collaboration on energy transition
Norway's oil and gas towns are seeking greater UK collaboration as they look to reinvent themselves for the energy transition.
UK spent ‘more money doing less’ on decommissioning in 2023
Rising costs meant North Sea operators spent "more money doing less work" on offshore decommissioning in 2023, according to an industry report.
Aberdeen’s Well-Safe Solutions secures £20m in North Sea decom contracts
Well decommissioning specialist Well-Safe Solutions has secured two contracts with North Sea operators worth $25 million (£19.8m).
Omani firm Petrogas makes first gas discovery in UK North Sea
Omani operator Petrogas has announced its maiden offshore gas discovery in the UK North Sea following a recent drilling campaign.
Apache to cease North Sea production by 2030 due to windfall tax
North Sea operator Apache (NYSE:APA) has said it will cease operations in the UK by the end of 2029, blaming the impact of the windfall tax.
Harbour Energy international assets to ‘outweigh’ sale of UK portfolio
Harbour Energy's new international assets will "outweigh the rundown" of its UK portfolio following its Wintershall DEA buyout, according to an analyst.
UK oil and gas firm looks to Middle East amid North Sea uncertainty
For many North Sea oil and gas supply chain firms, attending the annual ADIPEC conference in the Middle East has been a key part of efforts to expand internationally.
Nexos secures North Sea HVAC crew deal with EnQuest
Aberdeen offshore services provider Nexos has secured a contract with North Sea operator EnQuest (LON:ENQ) to provide HVAC services at its Thistle and Magnus platforms.
Brent Charlie topside loaded in to UK port for decommissioning
Mammoet has skidded the Brent Charlie topside into place for decommissioning at the Able Seaton Port in Hartlepool.
AI breakthrough could save £10bn in North Sea decom costs
A breakthrough artificial intelligence (AI) project could save taxpayers and the offshore industry billions of pounds in oil and gas decommissioning costs.
North-east oil workers are warming to Green way of thinking, says Patrick Harvie
The Greens are often cast by political rivals as being out of touch with voters in the region.
North Sea investment allowance changes could have greater impact than EPL raise
University of Aberdeen research warns of potential impact from proposed EPL changes, but Treasury says it is "right that the oil and gas sector contributes" to UK energy transition.
BP and Shell to reveal lower profits amid decline in oil refining margin
BP (LON:BP) and Shell (LON:SHEL) are next week expected to post lower third-quarter profits than in 2023 against a backdrop of weak oil prices and faltering demand.
Why the EPL is putting both our North Sea industry and climate change goals at risk
The Autumn Budget is a chance for the government to make a bold statement on the energy transition.
UK could extract further £10bn from North Sea under right fiscal conditions, WoodMac says
The UK could unlock up to £10 billion of North Sea oil and gas pre-tax value from existing assets under the right fiscal regime, a new report has found.