Privately-held Chrysaor has struck a reverse takeover deal with Premier Oil that will create the biggest quoted independent oil and gas exploration and production company listed in London. North Sea-focused Premier’s US$2.7 billion of debt and hedging liabilities will be repaid and cancelled via a $1.232...
Grid operators from the UK and the Netherlands are exploring the possibility of connecting the two countries’ offshore wind farms with subsea electricity cables by 2029. National Grid Ventures, the commercial arm of UK operator National Grid, and Dutch transmission system operator (TSO) TenneT are drawing...
ExxonMobil has agreed to sell the majority of its Norwegian assets in the North Sea to Vår Energi for US$4.5 billion, after the oil and gas firms entered exclusive talks earlier this month. The deal is for more than 20 non-operated stakes ExxonMobil holds in fields...
Researchers at the University of Aberdeen in Scotland are aiming to use artificial intelligence (AI) to unlock a ‘treasure trove’ of big data in the North Sea oil and gas industry. The researchers hope to launch a project that will bridge the gap between the large...
French oil major Total has cemented its position as the UK’s top gas producer after bringing online the Culzean field in the North Sea ahead of time and under budget. The Culzean field, operated by Total with a 49.99% interest along with BP and JX Nippon,...
Norwegian energy giant Equinor has announced it produced a record 1.25TW of renewable energy last year, up from 830GW in 2017 when it operated under former name Statoil. The rebranded company still owns a number of large oil and gas production assets in the North Sea,...
State-run Norwegian energy company Equinor has revealed it is exploring the possibility of building a floating offshore wind farm that would supply clean energy to two North Sea oil fields. The potential project is expected to cut down CO2 emissions by more than 200,000 tonnes annually and...
UK oil producer Premier Oil has confirmed it will commence the development of the Tolmount Main gas field in the Southern North Sea, the largest gas basin in the UK’s continental shelf. The FTSE 250 firm has moved the project into execution phase and hopes to...
The UK section of the North Sea will fall back into declining oil production when a four-year growth spell comes to an end next year, according to consultancy firm Bernstein. Production from the maturing oil basin had been on a steady, two-decade decline prior to 2014,...
Royal Dutch Shell (LSE:RDSA) has revealed its Q4 2017 profits more than doubled in the midst of a hectic period for global oil majors as news of fresh discoveries and new production targets broke elsewhere. The Anglo-Dutch company’s earnings on a ‘current cost of supply’ (CCS)...