The North Sea Transition Authority (NSTA) revealed it will get tough on operators that do not meet their obligations.
Vår Energi struck a similar supply deal with Germany’s VNG Handel & Vertrieb for the delivery of 5 bcm (176.6 bcf) of gas over 12 years.
The company has discovered gross recoverable hydrocarbons of up to 39 million barrels of oil equivalent (mboe) in the North Sea.
The SNP are “in-between” the Conservatives and Labour policy on new licences for oil and gas fields in the North Sea, the deputy first minister has said.
John Browne, the former head of BP, has seemingly backed a Labour Party pledge to end North Sea oil and gas exploration.
The industry heavyweight, who joined the energy giant as an apprentice in the 1960s, said that plans for the North Sea and the “energy transition” would be important issues at the next election.
Luxembourg-domiciled Subsea7 has tucked a new assignment in the UK under its belt, which will enable it to work on the development of a field that will be tied back to an existing floating production, storage, and offloading (FPSO) vessel working in the North Sea.
UK-based produced water treatment specialist Adaptive Process Solutions (APS) has conducted a field trial of its microbubble infusion unit (MiFU) technology aboard a floating production, storage, and offloading installation (FPSO) vessel in the North Sea, resulting in lower oil in water (OiW) levels.
Offshore energy’s trade body is pushing back against campaign damage to its reputation and political harm to its prospects.
Unpredictable tax changes on Britain’s oil and gas production are making the industry “uninvestable” to internationally mobile finance, it is claimed.
While climate change campaigners say fossil fuel emissions are already busting temperature limits, the case for continued supply is that there will continue to be demand.
Perenco UK, a subsidiary of Perenco Group, has brought on stream a near-field discovery within the Ravenspurn South area of the Southern North Sea, boosting its gas production on the UK Continental Shelf (UKCS).
Prices for North Sea and West African crude grades have increased this month.
The Red Sea shipping crisis and OPEC+ output cuts have tightened oil markets.
U.S. benchmark oil prices are also supported by higher demand for American crude in Europe due to the Red Sea disruption to flows.