Despite BP’s (LON: BP) North Sea boss being hopeful about the future of oil and gas in the UK, Doris Reiter says uncertainties driven by government policy are undermining investment confidence and the energy transition.
Diamond Offshore (NYSE: DO) stands to lose more than $24m in revenues after a drilling kit collapse incident on a BP project in the West of Shetland.
The Ocean GreatWhite was working for BP around 125 miles west of the Shetland Islands.
UK upstream capital expenditure is up, showing a bounce back from the lull the industry experienced during the COVID pandemic.
Digitisation efforts at the field are like “nothing I’ve ever seen in my career", said CFO Murray Auchincloss.
A huge oil rig, sporting legs more than 200 metres in height, has become the largest ever vessel to visit the Port of Aberdeen.
The UK Upstream boss at Shell talks West of Shetland potential, investment and finding the right portfolio fit.
North Sea firm Siccar Point Energy is nearing a decision on how best to proceed with its West of Shetland Tornado project.
There are several hubs around the North Sea which will still be producing in a decade’s time – but 12 of these will be “key” thanks to their production upsides and emissions intensity, according to new research.
BP has announced plans to invest £18 billion in the UK energy system by 2030, with the North Sea at its heart, days after calls were once again raised for an oil and gas windfall tax.
Siccar Point Energy has enjoyed a $359 million boost thanks to its holding in the BP Schiehallion field in the West of Shetland.
Ithaca Energy has struck a deal to buy Siccar Point Energy, operator of the controversial Cambo project, for just shy of $1.5 billion.
Losses at Siccar Point Energy more than doubled in 2020 as the North Sea operator looks ahead to key decisions on its flagship Cambo field and the Equinor-operated Rosebank.
BP has taken a $2.79bn (£2billion) impairment on the value of its oil and gas assets in the UK North Sea.
Shell has reiterated its “commitment” to the North Sea and West of Shetland, saying there is still “running room” in the region.
Odfjell Drilling has put 139 offshore workers at risk of redundancy after completing a drilling contract ahead of schedule.
BP notched up second quarter pre-tax profits of £700million, rebounding from a £2.5billion loss a year ago.
A stake in the Schiehallion field was the surprise inclusion in Shell’s $3.8billion North Sea asset sale to Chrysaor, an oil and gas analyst said today.
The Glen Lyon FPSO is expected to arrive at its new home in waters offshore Shetland on Sunday.
BP has reached a major milestone with the sail away of its Glen Lyon FPSO from the Hyundai Heavy Industries yard in South Korea to the Quad 204 redevelopment in Shetland.
Oil major BP said oil from its Schiehallion field in the UKCS will bypass the Sullom Voe Terminal (SVT) when it comes on stream again next year. The company, which also announced its third quarter results today, said initial production would head to Roterrdam citing technical reasons for the decision. Now it has been confirmed there will be no return to the island in the longer term.