UK-based oil company EnQuest has agreed to buy Canadian oil firm Suncor's entire 26.69% non-operated equity interest in the Golden Eagle area in the UK North Sea.The area, operated by China's CNOOC, comprises the producing Golden Eagle, Peregrine…
The Chinese oil company CNOOC has, via its European subsidiary, extended a contract for logistics management with ASCO. Under the five-year extension worth over 100 million pounds, ASCO will continue supporting CNOOC Petroleum Europe Limited's North Sea assets…
Petrogas NEO UK has hired the UK-based oilfield services provider Petrofac to establish its North Sea operation.Petrogas NEO UK is a company formed last year by the Norwegian private equity fund HitecVision and Omani oil group Petrogas.Petrofac…
An Aberdeen-based provider of predictive analysis services said it has secured a new multimillion-dollar contract with CNOOC for digital services across the company’s assets on the UK continental shelf (UKCS).OPEX Group's three-year contract with CNOOC Petroleum Europe Limited…
Norway’s government will earn around NOK 265 billion ($30 billion) taxing and taking up stakes in its oil and gas fields in 2019, and Norwegian production is on the rise. In contrast, Britain in 2019 will earn about GBP 1.1 billion ($1.34 billion)…
French oil major Total has sold its stakes in 10 UK offshore fields to Petrogas NEO for $635 million, as the majors continue to divest non-core assets to private equity-backed companies looking to expand their upstream footprint in the region…
Production at oilfields that feed into North Sea crude grade Flotta Gold has been shut down due to repairs on the main pipeline to the export terminal in Scotland, a spokesman for the terminal operator said.'We are carrying out repairs to a…
French energy giant Total is in advanced talks with privately owned firms Albion Energy and First Alpha Energy Capital on the sale of some of its British North Sea assets, two industry sources said.In July, four banking sources told Reuters…
Elaine Maslin reports on how the oil and gas industry is getting more data from downhole thanks to fiber optics (First published in the December 2017 OE, access the full issue here). The big data revolution is being felt in the oil and…
UK operators have gone a long way to reducing their costs and are even starting to look at investment, delegates attending the Oil & Gas UK Share Fair in Aberdeen early November learned. Elaine Maslin reports (First published in the December 2017 OE…
Inflow control valves and in-well fiber-optics have given Nexen far greater visibility of what’s going in and out of their reservoirs on the Golden Eagle field. Elaine Maslin reports. Golden Eagle with the Safe Caledonia alongside…
Wood Group has been awarded a five-year contract by Nexen, worth US$150 million. Extending a contract in place since April 2010, Wood Group PSN (WGPSN) will continue to deliver operations, maintenance and technical support across Nexen’s North Sea offshore assets…
Beijing-based China National Offshore Oil Corp. (CNOOC)’s 2016 business and development plan shows a slight reduction of about 5% when compared to 2015 due to continued challenges with low oil prices. Image of CNOOC's Golden Eagle…
The International Society of Automation appointed James Keaveney as its 2016 president. Keaveney. Image courtesy of the ISA. Keaveney will work with Society leaders and staff…
Low production efficiency in the UK North Sea has amounted to some 900 MMboe of lost production, a senior oil executive told a business breakfast in Aberdeen this morning. Ray Riddoch, Nexen Petroleum’s UK managing director, said in 2014…
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