Increased well intervention could provide a "huge opportunity" for the North Sea supply chain and lead to "cheaper, easier, cleaner" UK production, according to the North Sea Transition Authority (NSTA).
Kistos said the licensing would "extend the life of existing infrastructure and maximise economic output".
Diamond Offshore's (NYSE:DO) Ocean GreatWhite is facing an additional month out of action after an equipment collapse incident in the West of Shetland.
Diamond Offshore Drilling Inc. said equipment on a rig under lease to BP Plc (LON:BP) accidentally broke free during a storm and sank to the bottom off the UK coast. No one was injured and no crude leaked into the ocean.
The second tranche of the 33rd offshore licensing round sees 17 companies awarded North Sea licences
Shell's Victory field has an estimated recoverable resource of 179 billion cubic feet of gas, equivalent to 7% of the UK’s annual natural gas consumption
While the future of the Cambo project remains on hold, Siccar Point Energy’s intentions for the scheme could soon become clearer.
Shell’s shock decision to back out of the contentious Cambo field caps a tough few months for the oil giant, as far as the North Sea goes.
Every major oil firm in the UK and Norway is now engaged in talks on electrification of offshore platforms, according to energy services giant Baker Hughes.
Total is facing “economic challenges” for a major discovery in the West of Shetland after an appraisal well yielded results “at the lower end of expectations”.
Siccar Point Energy has kicked off its 2019 drilling campaign with the spudding of an exploration well at the Blackrock prospect west of Shetland (WoS).