North sea | GUPC

Perenco Completes CCS Injection Test in UK North Sea

Oil & Gas‚ Oil and Gas Industry | intent | April 14, 2025 | Comment off

Perenco CEO Armel Simondin said, “This test has met our expectations, both in terms of technical execution and the quality of data gathered. These insights are instrumental as we move to the next phase of developing the Poseidon Project. The successful test highlights the role our industry can play in the UK’s decarbonization efforts. The Perenco CCS team and our joint venture partners are now fully focused on interpreting the results and converting new insights into an evidence-based development plan for Project Poseidon”.

TotalEnergies’ North Sea mega gas project at full tilt after overcoming obstacles

Oil & Gas‚ Oil and Gas Industry | intent | November 11, 2024 | Comment off

According to the operator, Tyra II will ensure continued production of natural gas with 30% less CO2 emissions than before the shutdown and will contribute to energy security and independence in Denmark and Europe through the export pipelines to Nybro and Den Helder.

French oil giant embroiled in legal battle over plan to shut North Sea terminal

Energy‚ Oil & Gas‚ Oil and Gas Industry | intent | October 28, 2024 | Comment off

Plans to shut down a vital terminal in the North Sea have sparked a bitter legal row over claims it will damage the UK’s oil and gas production.

Lighter Permian Crude Could Create Problem For Refiners

Oil & Gas | intent | October 24, 2024 | Comment off

Light crude from the U.S. has been winning over customers globally with its low sulfur content and refining qualities similar to other light grades from the North Sea and Africa.
If Permian crude gets lighter than it is right now, refiners may have to use heavier grades to blend it.
Chances are that crude pumped from the Permian could become increasingly lighter as output continues to rise to record highs and drillers are moving to lower-quality locations with more associated natural gas at wells.

Signs of gas in North Sea Selene exploration well

Oil & Gas‚ Oil and Gas Industry | intent | October 22, 2024 | Comment off

Shell’s Selene exploration well in the UK southern North Sea reached a total depth of 3,540 m last week and has encountered gas in a 160-m thick Leman sandstone section.

Ithaca Energy combines with Eni’s North Sea business

Oil & Gas‚ Oil and Gas Industry | intent | October 4, 2024 | Comment off

Ithaca Energy completed a 754 million pound ($993 million) deal to buy nearly all of Eni’s UK oil and gas producing assets, it said on Thursday, an all-share transaction to create one of the biggest independent energy companies in the North Sea.

Trouble Deepens for North Sea Oil and Gas

Oil & Gas‚ Oil and Gas Industry | intent | September 24, 2024 | Comment off

North Sea oil and gas operators are not just facing the prospect of higher windfall taxes, they are now also finding it more difficult to get loans from UK banks.
The windfall profit tax was imposed on the energy industry in 2022 amid record profits resulting from the supply uncertainty in oil and gas following the incursion of Russian troops into Ukraine.
According to data from Norwegian investment bank SpareBank 1 Markets, reserve-based lending to oil and gas operators in the UK’s North Sea had fallen by some 40-50% since the introduction of the windfall profit tax.

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