By Timothy Abington and Mikael Holter (Bloomberg) --The rise of a huge new Norwegian oil field is poised to give North Sea output one of its biggest boosts in years. The surge won’t last. Johan Sverdrup, one of the five largest offshore oil fields ever discovered in Norway, has been given the green light to begin production, with operator Equinor ASA scheduled to start … [Read more...]
Exxon Eyes Exit Eyes Exit from UK North Sea After 50 Years -Reuters
By Ron Bousso LONDON, Aug 13 (Reuters) - Exxon Mobil is considering a sale of its assets in the British North Sea after more than 50 years in the oil and gas basin as it focuses on U.S. shale production and new projects. The world's largest publicly traded energy company has held talks with a number of North Sea operators in recent weeks to gauge interest in some or all of … [Read more...]
Fast and Lean: How North Sea Oil Is Taking Tips From U.S. Shale
By Eddie Spence (Bloomberg) --The U.S. oil boom changed the petroleum industry forever. Now its philosophy is being adopted by conventional producers in the North Sea. Motivated by lower crude prices and higher volatility, many companies are favoring smaller and nimbler investments known as “short-cycle projects.” That term -- first coined in American shale fields -- is now … [Read more...]
Equinor Again Delays Start-Up of Britain’s Mariner Offshore Oilfield
By Nerijus Adomaitis OSLO, April 10 (Reuters) - The operator of the Mariner heavy oil field, one of Britain's largest offshore developments in years, postponed its start-up to summer 2019 on Wednesday for safety checks on the platform's electrical couplings. Originally due to come on stream in 2017 and with an estimated 300 million barrels of recoverable reserves, the 4.5 … [Read more...]
Dismantling the Oil Industry: Rough North Sea Waters Test New Ideas
By Shadia Nasralla LONDON, Nov 27 (Reuters) - Scottish marine salvage group Ardent is adapting the tanks it used to refloat the Costa Concordia, the cruise ship wrecked off the Italian coast in 2012, to decommission North Sea oil platforms. It is one of several companies trying new ideas to win business in the market for dismantling disused oil platforms. In … [Read more...]