• IOG completes farm-out and FID

    October 29, 2019

    Independent Oil and Gas (IOG) has completed its farm-out transaction with CalEnergy Resources and made final investment decision on Phase 1 of its Core Project. This comprises 410 bcf of 2P+2C reserves and resources across six discovered UK southern North Sea gas fields. IOG and CalEnergy have said they will shortly be submitting confirmation of full funding to the OGA in support of the Phase 1 approval. With its experienced southern North Sea development team, IOG will also retain operatorship of the project. Read more…  
  • Well-Safe Solutions secures major investment

    October 28, 2019

    Well-Safe Solutions has secured over £66 million in new investment to fund its next phase of growth as a tier one well decommissioning company. MW&L Capital Partners led the investment round, bringing together a consortium of private investors to acquire a major stake in the business. Launched in 2017 to provide a ground-breaking approach to safe and cost-efficient decommissioning, Well-Safe now employs 70 staff and around 20 contractors. The new investment will support work to make its bespoke rig, the Well-Safe Guardian, ready for operation in the first half of 2020 and to acquire further decommissioning assets. Read more…  
  • Peterson wins Premier Oil contract renewal

    October 28, 2019

    Peterson has strengthened its relationship with independent E&P group Premier Oil after it renewed a long-term contract worth over £20 million. Peterson has worked with Premier since 2010 providing integrated logistics services to support its North Sea activity. The contract will see Peterson provide support for up to a decade, with the first five years confirmed, and an optional five year extension in addition. The scope includes co-ordinating and managing resources, capabilities and technology, and applying intelligent logistics to deliver value through increased transparency and efficiency. Read more…  
  • OGTC launches next round of TechX

    October 24, 2019

    The Oil & Gas Technology Centre (OGTC) has launched the third year of its accelerator programme, TechX, with the announcement of new industry partner Equinor. The TechX Pioneer Programme helps ambitious start-ups take their solutions to the energy market faster. 21 companies have so far graduated from the award-winning programme, supporting the development of ground-breaking technologies including a lab-on-a-chip (RAB microfluidics), machine learning seismic imaging software (Optic Earth) and a complete oil field well surveillance technology (Ai Exploration). Over the previous two years, £2.8 million has been co-invested into these pioneering companies with a further £1 million of additional investment being secured ...
  • Aker Solutions outlines low-carbon strategy

    October 23, 2019

    Aker Solutions will aim to generate nearly half its revenue from renewable or low-carbon solutions by 2030, according to its newly outlined ’20/25/30 strategy’. This would see the company derive 20% of its revenue from renewable energy and 25% from distinct low-carbon solutions by the year 2030. The renewable energy solutions will primarily come from floating wind, while the low-carbon segment is a set portfolio of existing Aker Solutions offerings, including: carbon capture, utilisation and storage (CCUS), subsea gas compression, electrification of production assets and unmanned platforms. Read more…  
  • Development plan submitted for Platypus gas project

    October 15, 2019

    UK and Netherlands-focused energy group Parkmead has announced the filing of a draft Field Development Plan (FDP) and Environmental Statement (ES) for the Platypus gas project. The two documents were submitted to the Oil and Gas Authority (OGA) and the Offshore Petroleum Regulator for Environment and Decommissioning (OPRED) by Dana Petroleum (59%), on behalf of project co-venturers which include Parkmead (15%), CalEnergy Gas (15%) and Zennor Petroleum (11%). The Platypus field is located in the UK southern North Sea in Blocks 47/5b and 48/1a, around 18 km north west of the West Sole gas field and 15 km south west of the ...
  • Neptune to acquire Edison assets from Energean

    October 14, 2019

    Neptune Energy has entered into a conditional agreement with Energean Oil and Gas to acquire Edison E&P’s UK and Norwegian producing, development and exploration assets for $250 million. Pending Energean’s completion of its proposed acquisition of Edison, the portfolio will give Neptune an estimated 30 million barrels of oil equivalent of 2P reserves and near-term production in core areas of the North Sea, close to infrastructure. The transaction includes a 25% interest in the Glengorm gas condensate discovery, as well as interests in Scott, Telford, Tors, Wenlock and Markham, among others. The transaction is subject to regulatory approvals, with completion expected early ...
  • TÜV SÜD opens £16m Advanced Multiphase Facility

    October 10, 2019

    Flow measurement R&D specialist, TÜV SÜD National Engineering Laboratory, has opened its £16million Advanced Multiphase Facility (AMF) which it says will help global oil and gas operators to ensure that production remains economically viable. In terms of testing operating pressures, temperatures, flowrates and metrology, the AMF’s capabilities are beyond that of any other laboratory in the world. Operating at pressures up to 140 bar, the AMF doubles previous test capabilities to meet industry’s current and future measurement challenges. With a working envelope at least 20 times larger than any multiphase or wet gas facility in the world, the AMF also has ...
  • Subsea 7 awarded Pierce contract by Shell

    October 4, 2019

    Subsea 7 has been awarded a contract by Shell for the Pierce depressurisation project, located approximately 160 miles offshore Aberdeen. The contract scope involves the engineering, procurement, construction, transportation and installation (EPCI and T&I) of a 30km gas export pipeline, a gas export riser and associated subsea infrastructure, for tie-ins at the Haewene Brim FPSO. Project management and detailed engineering has commenced at Subsea 7’s office in Aberdeen, with offshore activities scheduled for 2020 and 2021. Read more…  
  • ODE appointed installation operator for Tolmount Platform

    October 3, 2019

    ODE Asset Management (ODE AM), a unit of international engineering and operations support services contractor ODE Group, has been appointed as installation operator (duty holder) of the normally unattended installation (NUI) Tolmount platform. The Tolmount platform and associated gas export pipeline comprise the Humber Gathering System, which is owned by Humber Gathering System Limited (HGSL) – a Kellas Midstream company – and Dana Petroleum. The system will initially deliver gas from the Tolmount field, owned by Premier Oil and Dana Petroleum, to the Easington onshore gas terminal, with first gas planned for the fourth quarter of 2020. As installation operator, ODE AM ...