Jim House, CEO of Neptune Energy, said today at Oil and Gas UK’s Business Outlook breakfast that he “didn’t expect to be back so quickly”; a sign that a North Sea oil recovery is in full swing.
The merger and acquisition (M&A) activity within the North Sea has surpassed $8billion in 2017, an indication that confidence is gradually returning to the North Sea.
By the mid-1990s post Piper Alpha safety standards had started to plateau.
The Oil and Gas Authority (OGA) has once again released new data in an effort to attract and incentivise North Sea exploration.
Over the last year or so there has been increased activity in mergers and asset transactions in the oil and gas sector. This certainly includes the UK Continental Shelf. With respect to asset transactions, in the immediate aftermath of the oil price collapse, there was little activity. Both potential sellers and buyers had to assess the effects of the price fall on the value of assets. Cost reductions and valuation of their effects were a priority. Also, there was great uncertainty regarding future price behaviour which made agreement valuations more difficult.
A total of 17 oil and gas operators have been awarded licences in the 29th 'frontier' offshore Licensing Round.
Energy consultancy Wood Mackenzie (Woodmac) has predicted a bonanza of mergers and acquisitions (M&A) activity on the UK continental shelf in 2017.
Innovation, diversification and transformation are three words which I make no apologies for repeating. All will be the bedrock upon which Aberdeen’s future is built.
Premier Oil said it has received a monthly deferral in respect of the test of its financial covenants.
Oil major Shell said the reaffirmed measures in the Autumn Statement would continue to help deliver a "strong and sustainable" future for the North Sea.
A groundbreaking new report predicts a steady rise in decommissioning work in the UK and Norway over the coming decade.
The Oil and Gas Authority (OGA) said yesterday that the 2016 target for production efficiency on the UK continental shelf (UKCS) was “unlikely” to be met.
Xcite Energy shares dived yesterday after the company said bondholders would pursue enforcement action over their loans unless a restructuring of the financial terms hands them near-100% ownership.
Technology innovation is going to play a critical role in the next chapter of oil and gas recovery from the UK continental shelf (UKCS) and in driving export growth in our UK-based supply chain.
Oil major BP has revealed fresh footage of its Clair Ridge project in the North Sea.
The chief executive of industry body Oil and Gas UK has said the sector is “very much” open for business in a letter to the Energy and Climate Change Committee.
Towards the end of August, three wells, comprising two exploration and one appraisal, were active, but with no new spuds since our last report.
This footage gives a glimpse into the everyday life of North Sea offshore workers.
Subsea 7 has started formal one-to-one consultations with hundreds of staff in Aberdeen.
Wood Group has signed a new framework agreement with Wintershall Norge to tender for the provision of modification and maintenance services to assets in the Norwegian Continental Shelf (NCS).
Statoil has revealed fresh footage of its Mariner B vessel as it arrived in Global Energy Group's Nigg Energy Park after completing a journey of more than 15,000 miles from a construction yard in South Korea.
Statoil has revealed fresh footage of the Mariner B Floating Storage Unit (FSU) arriving after its mammoth journey from South Korea.
Keppel Offshore & Marine said it is on track to deliver a Floating Production Storage and Offloading (FPSO) veseel to Armada Kraken.
The sixteen-strong executive committee of industry experts has been appointed for SPE Offshore Europe 2017.
The Oil and Gas Authority has outlined its priorities for Enhance Oil Recovery (EOR) on the UKCS.