(Oil Price)– Harbour Energy has made a gas and condensate discovery in the Norwegian section of the North Sea, which could be tied back to existing infrastructure, the Norwegian Offshore Directorate said on Friday. Harbour Energy, as operator of the license, and its partners have proven gas condensate in the ‘Camilla Nord’ prospect, the regulator said, adding that preliminary estimates indicate
(World Oil) – TotalEnergies has signed an agreement to merge its UK Upstream business with NEO NEXT, forming a newly expanded company—NEO NEXT+—that will become the largest independent oil and gas producer in the United Kingdom. The deal positions TotalEnergies as the new entity’s leading shareholder with a 47.5% ownership stake. Following completion—expected in the first half of 2026 pending regulatory
(World Oil) – The UK government will stick with a controversial windfall tax for North Sea oil and gas producers until the end of the decade, dismissing complaints that the levy hurts investment and jobs. The Energy Profits Levy will remain in place until March 2030, according to a leaked document from the Office for Budget Responsibility. The decision comes as Chancellor of
(World Oil) – The UK’s remaining proven and probable oil and gas reserves were estimated at 2.9 billion barrels of oil equivalent (Bboe) at the end of 2024, according to the latest Reserves and Resources Report published by the North Sea Transition Authority (NSTA). While total reserves declined slightly year-on-year, the report highlights a significant 31% increase in prospective resources, now estimated
(World Oil)– ConocoPhillips has contracted Halliburton to deliver comprehensive well stimulation services to improve well performance and reservoir productivity. The contract spans five years and includes three optional extension periods. Under the agreement, Tidewater’s vessel, North Pomor, will be transformed into an advanced stimulation vessel designed to efficiently deliver offshore well stimulation services in the North Sea. The improvements will include Octiv® digital fracturing
(World Oil)– Germany has given the green light for drilling as much as 13 billion cubic meters (Bbcm) of natural gas at a protected marine site in the North Sea in a controversial step to bolster energy security. The cabinet approved a bilateral agreement with the Netherlands on hydrocarbon deposits off the island of Borkum, according to a statement from
(World Oil) – Baker Hughes will provide Equinor plug and abandonment (P&A) services in the Oseberg East field on Norway’s continental shelf. Baker Hughes’ Mature Assets Solutions team will lead the integrated P&A campaign planning phase, as well as delivering integrated P&A services in execution across several wells in the North Sea. Baker Hughes has a history of successful integrated P&A
(Oil Price) – The UK could produce about half of the energy it consumes locally, in the North Sea, the energy industry association, Offshore Energies, said this week, as quoted by the Financial Times. For that, however, the industry needs the “right business conditions”. Offshore Energies UK said that local energy production was estimated at some 2 billion to 3 billion barrels of
(Oil Price) – Equinor has made an oil and gas discovery next to the giant Troll field in the North Sea and will continue to explore the area for further potential resources close to existing infrastructure. The discovery, provisionally named Ringand, is currently estimated to contain between 2 and 12 million barrels of oil equivalent and is only 10 miles (17
(Yahoo Finance) – LONDON – Top British North Sea producer Harbour Energy wants to sell stakes in North Sea oilfields and is reviving plans for a U.S. listing, sources said, as more firms scale back investments ahead of new tax increases on the sector. The Labour government, which was elected in July, wants to use the revenue from oil and gas
(World Oil) – North Star has secured its first contract for a commissioning service operation vessel (CSOV), a second award with EnBW, further establishing the company’s growing presence in the European offshore wind sector. This award for the newbuild Grampian Kestrel CSOV (of VARD 4 22 design), will precede the decade-long minimum charter contract the firm signed in February to
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