Fossil Energy
Hurricane to focus on Lancaster and Lincoln wells
Hurricane Energy has been granted an extension for a UK license which contains the Lancaster and Lincoln areas. The extension comes with a commitment to drill a well on each of the areas.
Spirit to take over North Sea discovery after ‘encouraging’ results
UK-based Spirit Energy will become the operator of a new Southern North Sea discovery after an encouraging exploration campaign.
Shell agrees $10 billion loan in ‘innovative deal’ with 25 banks
Oil major Shell has signed a $10 billion revolving credit facility, which replaces Shell’s existing $8.84 billion revolving credit facility and is provided by a syndicate of 25 banks.
OMV hires Island Innovator rig for Norwegian operations
Offshore drilling contractor Island Drilling has been awarded a contract with OMV in Norway.
Petrofac bags two new North Sea deals
Petrofac has secured two new framework agreements for the provision of engineering, procurement, construction, and commissioning (EPCC) services.
Subsea 7 gets Ærfugl job from Aker BP
Subsea 7 has been awarded a sizeable contract by Aker BP for the Ærfugl Phase 2 gas field development, located approximately 210km west of Sandnessjøen in the Norwegian Sea.
Norwegian oil output in November over 13 pct higher than NPD’s forecast
Norwegian oil production during November 2019 was significantly higher than the Norwegian Petroleum Directorate predicted, according to the directorate’s report on Thursday.
Aker BP orders another subsea production system for Ærfugl from Aker Solutions
Aker Solutions has been awarded a contract from Aker BP to deliver the subsea production system for the second phase of the Ærfugl development offshore Norway.
UOG closes sale of North Sea blocks to Hibiscus
United Oil & Gas has completed the sale of the North Sea Blocks 15/18d and 15/19b (License P2366) to Hibiscus for a headline consideration of up to $5 million.
Audit finds emergency preparedness issues on Transocean rig
Norwegian offshore safety watchdog has found 11 non-conformities related to the working environment and emergency preparedness following an audit on the Transocean Endurance rig.
Rystad: Energy projects with breakeven prices above $60 risk being uncommercial
Energy projects that need oil prices above $60 per barrel in order to break even risk being uncommercial going forward, according to Rystad Energy. However, massive investments in exploration and sanctioning are still needed to meet growing global demand.
French banks takeover offer for Bourbon ‘would lead to liquidation and total loss for shareholders’
If the court were to favor an offer by a group of French banks it would lead to the liquidation of the listed company Bourbon Corporation and a total loss for shareholders and bondholders.
Archer eyes new North Sea contract for modular rig
Archer has entered into a Letter of Intent with a North Sea operator for the provision of drilling services using the modular drilling rig Archer Topaz.
Wison kicks off construction for Arctic LNG 2 project
Wison Offshore & Marine started the fabrication for Novatek’s Arctic LNG 2 Project at its Zhoushan Yard in China on November 29, 2019.