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Latest news - Regional

Serica Energy Says North Eigg Well Costs to Rise GBP3 Mln After Drilling Delayed

Serica Energy Says North Eigg Well Costs to Rise GBP3 Mln After Drilling Delayed   Serica Energy PLC said Wednesday that drilling at the North Eigg exploration well has been delayed and that net well cost after tax is expected to rise by around 3 million pounds ($3.4 million). The U.K. gas producer said operations at the site in the North Sea should take six weeks longer than previously planned to complete and results from the well should now be available in December 2022. The...

Deltic Energy raises up to £17mln for second North Sea well

Deltic Energy raises up to £17mln for second North Sea well   Deltic Energy is raising up to £17mln in a placing and separate open offer to fund the Selene well and licences offered in the latest North Sea round. Selene is being drilled in partnership with Shell, which committed to the well in July, and contains an estimated 318 billion cubic feet (bcf) of gas on a P50 basis, worth an estimated US$624mln. Deltic has a 50% working interest in the North Sea field. A...

Truss handed plan to expand UK oil and gas production without net zero compromise

Truss handed plan to expand UK oil and gas production without net zero compromise LIZ TRUSS has been given a plan that would allow the UK to expand its production of oil and gas - bolstering our energy security - without causing an overall increase in emissions and compromising efforts to reach net zero.   In her campaign for the role of prime minister, Ms Truss pledged to suspend green levies on energy bills and look for “better ways to deliver our net zero targets”. A...

UK to announce dozens of new North Sea oil and gas licences -sources

UK to announce dozens of new North Sea oil and gas licences -sources   The British government is expected to announce dozens of new North Sea oil and gas exploration licences in an effort to boost domestic production, two sources familiar with the government's discussions said. The exact number of new licences was still to be confirmed, one of the sources, who spoke on condition of anonymity, said. The other said it could be as many as 130. The announcement could come as soon a...

Oil Price Boost for EnQuest

Oil Price Boost for EnQuest   For the first six months of 2022, the group reported pre-tax profits of $416 million, more than double last year’s figure of $175m. Revenue for the period also shot up, from $518m in H1 2021, to $943m in H1 this year. Group net production averaged 49,726 barrels of oil equivalent per day (boepd), up from 46,187 boepd in 2021. The company’s net debt at the end of June was reduced by $342m from year end, reflecting strong free cash flow...

Research reveals tomorrow’s workforce seek jobs with purpose and would consider roles in UK energy sector

Research reveals tomorrow’s workforce seek jobs with purpose and would consider roles in UK energy sector   New research commissioned by Offshore Energies UK (OEUK), the leading trade body for the UK’s integrated offshore energy industry, has revealed that young people are actively seeking careers that have a positive impact on society, with more than half of those surveyed saying they would consider a career in the UK’s energy sector. The survey of 1,000 seconda...

Will pumping more oil and gas solve the energy crisis?

Will pumping more oil and gas solve the energy crisis?   Liz Truss is reportedly to approve a series of oil and drilling licences in the North Sea in a bid to tackle the UK energy crisis. According to The Times, the Tory leadership front-runner intends to green light the licences in one of her first acts as prime minister, “as part of a long-term plan to ensure Britain’s energy security”. The paper also reported that Business Secretary Kwasi Kwarteng, who is wi...

OEUK: New oil and gas licenses critical in Europe’s search for reliable, responsible energy producers

OEUK: New oil and gas licenses critical in Europe’s search for reliable, responsible energy producers   The UK will be almost wholly reliant on imported oil and gas within the next 15 years unless new licenses and investments are granted soon, the leading representative body for the UK’s offshore energy industry has said. Responding to reports that Conservative leadership candidate Liz Truss would give the green light to as many as 130 new drilling licenses this autumn,...

UK Government's response to Ofgem's updates to the Energy Price Cap level

UK Government's response to Ofgem's updates to the Energy Price Cap level   A Government Spokesperson said: “We know people are incredibly worried about rising energy bills, following unprecedented gas prices across the continent driven by global events, including Putin’s aggression in Ukraine and his weaponisation of energy in Europe. “Direct support will continue to reach people’s pockets in the weeks and months ahead, targeted at those who need...

SSEN Transmission HR Team recognised at Scottish Renewables awards

SSE  Transmission HR Team win People and Culture award   Eight winners recognised for their work delivering the energy transition Industry body says shortlist highlights “incredible innovation, skills and engineering know-how” SSEN's Transmission HR Team was recognised by the ECITB sponsored 'People and Culture' award last night at the inaugural Scottish Renewable Awards ceremony at the Chester Hotel in Aberdeen. Siemens Gamesa Renewable Energy...

North Sea oil and gas boom 'could boost independence campaign'

North Sea oil and gas boom 'could boost independence campaign'   North Sea oil has returned to the heart of the independence debate after a leading think-tank said rising prices could see Scotland's public finances look their healthiest for more than a decade, just before Nicola Sturgeon wants to hold a second referendum. The Institute for Fiscal Studies (IFS) said the upturn in oil and gas revenues would cut Scotland's notional deficit close to, or even below, the...

Stena Drilling names Dillan Perras as Wells Manager and Director of new start-up company.

Stena Drilling names Dillan Perras as Wells Manager and Director of new start-up company.   Stena Drilling Limited today announced that the company has appointed Dillan Perras as Wells Manager – and Director of Stena Wells. The first member of the new start-up - leading the company to provide fully managed well construction and decommissioning. Dillan Perras joins Stena Drilling after 16 years with Talisman / Repsol / Repsol Sinopec Resources where most recently he held the r...

UK gas producers boost domestic production by 26% in six months

UK gas producers boost domestic production by 26% in six months   The UK has cut its dependence on imported gas. New figures show domestic gas production in the first half of 2022 was 26% higher than the same period in 2021, which is enough to heat almost 3.5 million UK homes for a year. The news comes as the UK government looks to increase the UK’s energy security by improving the availability of reliable domestic supplies of energy. The global energy supply crisis, driven i...

Offshore Energies UK announces speakers for 2022 Economic Report

Offshore Energies UK announces speakers for 2022 Economic Report   Leading figures from across the industry will join Offshore Energies UK (OEUK) to help launch its flagship Economic Report at a breakfast briefing in Aberdeen on Wednesday September 7. Regarded as a key source of market intelligence, the report provides insight of how the offshore energy sector is faring at a time when the drive to improve security, affordability and sustainability is at the top of the energy agend...

Neptune Energy begins work on 10th Cygnus gas well

Neptune Energy begins work on 10th Cygnus gas well   Neptune Energy today announced it has begun an infill drilling campaign at its operated Cygnus gas field in the southern North Sea, with the potential to unlock enough gas to heat an additional 200,000 UK homes1 per year from this winter. Upon completion of the 10th well on the field in 4Q this year, the Cygnus gas facility will be capable of producing enough gas for approximately 2 million UK households. Cygnus is an importan...

AREG 2023 photography competition – still time to enter!

AREG 2023 photography competition – still time to enter!   Aberdeen Renewable Energy Group (AREG) launched its 2023 calendar photography competition earlier this summer, and with just a few weeks to go until entries close, there is still time to submit the winning photo. Following a successful competition last year, budding amateur photographers of all ages are invited to submit ‘snaps’ that capture energy in action and celebrate Scotland’s diverse contribut...

New Windfall Tax Proposals Could Destroy UK Local O&G Production

New Windfall Tax Proposals Could Destroy UK Local O&G Production   A new round of windfall taxes would leave the UK facing decades of energy insecurity, heap further costs on consumers, and make the nation more dependent on other countries for gas and oil, Offshore Energies UK warned. It follows new Labour Party proposals to extend the Energy Profits Levy, known as the windfall tax, by applying it retrospectively and shutting off the exemptions designed to promote investment....

ExxonMobil to sell Barnett Shale assets for $750 million

ExxonMobil to sell Barnett Shale assets for $750 millio   IRVING, Texas – ExxonMobil said today it signed an agreement with subsidiaries of BKV Corporation for the sale of operated and non-operated Barnett Shale gas assets in Texas for $750 million with additional payments contingent on future natural gas prices. Sale supports corporate strategy to prioritize investments on advantaged assets with lowest cost of supply Assets are part of North American gas resources remov...

Vår Energi acquires North Sea assets

Vår Energi acquires North Sea assets   Vår Energi ASA has acquired 30% ownership in production licenses (PL) 820S and PL 820 SB, north of Balder field in the North Sea. Vår Energi acquired the shares from Lime Petroleum Norway AS, Pandion Energy AS, and Lundin Energy Norway AS (now Aker BP Norway AS) and is proposed as the new operator. The transaction is pending government approval. Earlier this year, Vår Energi also acquired PL 917 and PL 917B (west of Bal...

New windfall tax proposals risk untold damage to national energy security, warns Offshore Energies UK

New windfall tax proposals risk untold damage to national energy security, warns Offshore Energies UK   A new round of windfall taxes would leave the UK facing decades of energy insecurity, heap further costs on consumers and risk making the nation ever more dependent on other countries for the gas and oil needed to keep the nation’s lights on, its homes warm and to fuel its transport system, Offshore Energies UK has warned. It follows new Labour proposals to extend the Ener...
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