The new legislation, to be outlined in the upcoming King's Speech, will require the North Sea Transition Authority regulator to solicit applications for fossil fuel drilling in the North Sea on an annual basis.
AIM-listed oil and gas company Reabold Resources has disclosed that Shell is the oil and gas major, which is in the process of acquiring its investee company, Corallian Energy Limited (CEL). This acquisition entails a gas field located West of Shetland.
UK-headquartered energy giant BP has awarded a long-term, multi-region deal, covering its offshore portfolio, to Wood Plc, a compatriot oilfield services provider. This contract will enable the UK player to support BP’s “efficient and safe” energy production.
Oilfield services provider Archer has secured a long-term platform drilling contract in the UK with an undisclosed operator. This deal has an estimated value of $50 million over the firm contract period.
UK-headquartered and AIM-listed oil and gas company i3 Energy has started drilling an appraisal well in the North Sea with a Stena Drilling-owned rig in a bid to find additional volumes of hydrocarbons beyond those encountered in the original discovery well.
Oil and gas company Neptune Energy has hired Well-Safe Solutions, an Aberdeen-based decommissioning services provider, to undertake a decommissioning campaign covering more than 20 wells in the Dutch and UK sectors of the North Sea.
As Liz Truss is poised to take over the United Kingdom’s Prime Minister (PM) role, the UK’s representative body for the offshore energy industry, Offshore Energies UK (OEUK), believes this to be an opportunity to push the transition to low-carbon and clean energy forward by bolstering domestic oil and gas production with long-term investment to strengthen energy security, which the incoming PM announced as a top priority.