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Catcher production passes 1 million barrel mark

Premier Oil has announced that production from its North Sea Catcher field has reached over 1 million barrels since first oil was struck. London-headquartered Premier also announced that the second  cargo shipment of 515 thousand barrels of oil was successfully completed on Sunday. The flagship project, which sits around 108 miles off the coast of […]

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February 20, 2018, 10:32 am | Author: Allister Thomas

MOL Group profits leap despite UK North Sea snags

Hungarian oil firm MOL Group said it owed an upsurge in 2017 profits to “strong financial and operational delivery” across the business. Upstream earnings at the Budapest-based company rose by more than a quarter last year due to higher Brent crude prices and “cost discipline”. Daily production averaged 107,400 barrels of oil, slightly below the […]

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February 20, 2018, 8:37 am | Author: Mark Lammey

OGTC kicks off Tech20 series to create “culture of innovation”

Aberdeen’s Oil and Gas Technology Centre has launched a series of weekly events to help create a “culture of innovation” in north-east Scotland. The Tech20 events will feature expert speakers on areas including technology and business. John Hunter, emergent technology director with completions systems specialist Tendeka will kick off the first event on Friday, discussing […]

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February 19, 2018, 11:56 am | Author: Allister Thomas

Picture: Bad weather breaks north breakwater at Aberdeen’s Nigg Bay

The scene of the north breakwater at Nigg Bay harbour in Aberdeen which has been damaged by recent bad weather. Some of the protection barrier has been washed into the sea by the force of the water. The area has been assessed and is in line for repairs.  

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February 19, 2018, 10:54 am | Author: Reporter

Baron to farm into Wick licence in North Sea

London-headquartered Baron Oil said today it had come to an “option agreement” to buy part of the Wick prospect in the Moray Firth. If Baron exercises its option by February 28, it will pay 20% of the cost of drilling a well on Wick, equivalent to £840,000, plus £6,500 in exchange for 15% of the […]

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February 19, 2018, 9:53 am | Author: Mark Lammey

Aker BP makes 60m barrel discovery in North Sea

Aker BP has struck oil at the Frosk exploration well in the North Sea. The Norwegian exploration and production company said the discovery could yield 30-60million barrels of oil, up from its earlier estimate of 3-21million. Frosk is located in PL340, which also contains the Bøyla field. Bøyla has been producing oil since 2015 through […]

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February 19, 2018, 8:52 am | Author: Reporter

Updated: EnQuest knocks down Kraken costs, expects output to lift

North Sea oil producer EnQuest said today it had managed to knock down the cost of its Kraken field project, which started producing in June. EnQuest said full-cycle capital expenditure for Kraken had been reduced by £71million and is now expected to be £1.65billion, more than 25% lower than at sanction. EnQuest shares rose sharply […]

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February 19, 2018, 8:40 am | Author: Mark Lammey

Plenty of longevity in North Sea despite mixed messages, says KPMG

An oil and gas expert insists there is investment “for many years to come” in the UK Continental Shelf, despite recent mixed messages about its longevity. Alan Kennedy, KPMG’s UK head of oil and gas, says it is “hard to believe” that fresh investment from new players such as Ineos and Chrysaor has been carried […]

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February 19, 2018, 7:35 am | Author: Allister Thomas

Hunterston location not a ‘show stopper’ for decom ambitions, DNS says

Industry body Decom North Sea (DNS) has said Hunterston’s Ayrshire location won’t be a “show stopper” for the site owner’s plans to scoop up oil and gas decommissioning work. Tom Leeson, interim chief executive at DNS, said Hunterston’s distance from the North Sea was just an “extra challenge” Peel Ports would have built into its […]

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February 19, 2018, 7:30 am | Author: Mark Lammey

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