Kistos Holdings PLC said Monday it had signed an agreement to acquire a 30 percent stake in the Seaward Production Licenses containing the planned Abbey and Baker natural gas projects on the United Kingdom’s side of the North Sea. Petrogas North Sea Ltd will remain operator with a 70 percent interest. “The acquisition is expected […]
Aker BP has awarded Subsea7 a contract worth up to $300 million for the Lyra field development, formerly known as Kjøttkake, in the northern North Sea. Lyra is a fast-track development targeting first oil in 2028, only three years after discovery. The field lies about 44 km (27 mi) from the Gjøa platform and will […]
Drilling Tools International (DTI) has entered into a definitive agreement to acquire Aberdeen-based Saltire Energy Limited and Foxley Energy Limited for approximately $80 million in cash and 17.4 million shares of DTI common stock, expanding its drilling equipment rental operations across the North Sea, Middle East and Asia-Pacific. The transaction, expected to close in the […]
Britain risks losing thousands more skilled North Sea oil and gas workers before emerging energy industries can absorb them, according to a new report from the North Sea Transition Taskforce.
Denholm Pipetech has expanded its Norwegian operations with a new facility and more than NOK 6 million in equipment and upgrades aimed at supporting oil and gas activity across the Norwegian Continental Shelf (NCS) and North Sea. The flow remediation specialist has moved into a 950-sq-m facility in Sandnes featuring six offices, workshop facilities and […]
Hornbeck Offshore Services has secured a multi-year North Sea contract for riserless plug-and-abandonment (P&A) operations through its Helix Well Ops (U.K.) subsidiary. The contract, awarded by an undisclosed North Sea operator, is scheduled to begin in second-quarter 2027. It has a firm two-year term with options for the customer to extend the work. Hornbeck will […]
An early visit by Prime Minister Andy Burnham to meet North Sea energy operators and their workforce could mark a crucial turning point in government attitudes towards home-grown energy and the future of the offshore industry, says David Whitehouse, Chief Executive of Offshore Energies UK (OEUK). OEUK has requested an urgent prime ministerial visit to operators in Scotland and supply-chains in […]
Kistos maintained its full-year 2026 production guidance following strong operational performance during the first half of the year, while advancing development projects in the North Sea and progressing acquisitions of upstream assets in Oman.
Andy Burnham is expected to announce an expansion of North Sea oil and gas drilling in the early weeks of his premiership. Whilst the plans are not yet concrete and the announcement date is not certain, senior members of the party, including deputy leader Lucy Powell, have given confirmation that there will be a greater emphasis on North Sea oil and gas. Burnham begins his tenure in a tricky position, making clear his plans to abide by Labour’s 2024 manifesto — a manifesto which committed to not issuing new drilling licences.
UK energy industry leaders are calling on newly appointed Prime Minister Andy Burnham to overhaul North Sea oil and gas policy, arguing his new government has an opportunity to improve investment conditions while maintaining the country’s energy transition.