UK/UKCS

News
July 05, 2024
OEUK warned many of the industry’s skilled people and investors remain deeply concerned about Labour proposals for a further windfall tax on homegrown oil and gas production and to end new oil and gas licenses in UK waters. OEUK says such measures would not create the investment conditions the UK needs to deliver the homegrown energy transition needed to kickstart economic growth.
News
June 27, 2024
TotalEnergies has signed an agreement to sell to The Prax Group its entire interest in West of Shetland assets in the United Kingdom (Laggan, Tormore, Glenlivet, Edradour and Glendronach fields, the onshore Shetland Gas Plant and nearby exploration licenses).
News
June 20, 2024
Changes in the tax regime, in particular a windfall levy on oil and gas introduced two years ago and extended until March 2029, has affected independent oil and gas producers listed in the UK and their ability to raise money.
News
June 18, 2024
The country’s current daily production of about 1.2 MMboed is projected to drop to 0.7 MMboed in 2030 by industry regulator the North Sea Transition Authority. “Getting things right” and moving forward all investment opportunities currently under consideration by companies would temper that decline, meaning production in 2030 would be 0.9 MMboed, OEUK said in its Economy and People report on Tuesday.
News
June 16, 2024
The contract scope includes project management, engineering, procurement, construction and installation (EPCI) of a 22km 12” water injection pipeline. Subsea7’s scope also includes associated subsea structures and tie-ins at the Triton Floating Production Storage & Offloading (FPSO) vessel and the Bittern field.
News
June 11, 2024
Deltic considers it “unlikely” that Selene will require further appraisal prior to field development planning commencing and could be brought into production “relatively quickly” following discovery given the proximity of existing infrastructure.
News
June 06, 2024
Emerson’s suite of Roxar downhole monitoring tools will empower Equinor to use advanced oil recovery techniques, optimize reservoir performance and verify well integrity in real time. The Rosebank field is estimated to contain over 300 MMbbl of recoverable oil resources.
News
June 05, 2024
The comprehensive campaign spans over 120 days and is segmented into five sub-campaigns, each addressing specific tasks crucial for the decommissioning process.
News
May 30, 2024
Stable, long-term policies that enable fair returns are critical to ensure UK firms and their people can compete in the global race for energy investment. OEUK says over £200 billion can be unlocked and ploughed into our energy future this decade, but only if firms, skilled people and capital stay here in the UK.
News
May 30, 2024
This deal involves the Clipper and Leman Alpha offshore field clusters and represents the latest move by major oil and gas companies to exit the aging North Sea basin in favor of more lucrative ventures.
News
May 21, 2024
A new report by Robert Gordon University (RGU) has revealed that the UK will fail to achieve a ‘just and fair’ energy transition by 2030 unless there is urgent alignment across the political spectrum to sustain UK offshore industry jobs, supply chain investments and the economic contribution of the workforce.
News
May 16, 2024
Chevron Corp. put its stake in the UK’s Clair oilfield up for sale in a move that will mark the U.S. supermajor’s exit from the North Sea after more than half a century.
News
May 16, 2024
Under this arrangement, Equinor will boost its ownership in the Heidrun field and Noatun discovery, while scaling back its stakes in the Tyrihans and Castberg fields, along with the Carmen and Beta discoveries.
News
May 03, 2024
The North Sea Transition Authority has announced the allocation of 31 new oil and gas licenses, marking a significant step towards reinforcing energy security in the UK, says Offshore Energies UK (OEUK).
News
May 01, 2024
The 23-month contract, part of the Elgin-Franklin Flare Gas Recovery System Project, will redirect gas that would have previously been flared through a new compressor system offshore to be treated and then reused.
News
April 23, 2024
The combination will immediately create an enlarged and stronger combined group with 2024 production greater than 100,000 boed and the underlying potential to organically grow to 150,000 boed by the early 2030s.
News
March 26, 2024
Right across the UK, the existing oil and gas supply chain already has 60%-80% of the capabilities needed to develop these new energy technologies. But current policy and political rhetoric present serious challenges to these firms’ ambitions to scale up and seize these opportunities.
News
March 12, 2024
Perenco UK announced a decommissioning milestone with the successful completion of the plug & abandonment of three subsea wells at the Gawain field in the UK Southern North Sea, including the removal of the associated subsea infrastructure.
News
March 11, 2024
NEO Energy is one of a handful of newcomers to the UK North Sea that in recent years has swept up oil and gas assets, in particular those from majors who have left the aging basin to pursue higher returns elsewhere.
News
March 07, 2024
The Chancellor’s plan to continue the tax undermines OEUK’s manifesto proposals for a homegrown energy transition intended to boost domestic energy investment and drive the shift to greater production of wind and hydrogen energy, alongside the introduction of large-scale UK carbon capture and storage facilities. 
News
March 06, 2024
The windfall tax has been heavily criticized by the North Sea oil and gas producers for disproportionately impacting smaller companies. While Russia’s war in Ukraine help push up profits for energy giants such as bp Plc and Shell Plc, the bulk of those earnings come from operations outside of the UK and therefore aren’t taxed in Britain.
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