The North Sea will see a rise in infrastructure deals this year, with private equity funds playing an increasing role in midstream assets, according to business advisory firm Deloitte. Against the backdrop of a low oil price, more oil and gas companies are looking to rationalise their portfolios and divest non-core assets in the UK… Continue Reading »
When it comes to the North Sea, there is no such thing as an easy sale, even for oil giants Royal Dutch Shell and BP. More than any other region in the world, the North Sea has suffered greatly over the past two years as a 60 percent drop in oil prices, high operating costs,… Continue Reading »
Royal Dutch Shell Plc is in talks with potential buyers for some North Sea assets, mostly fields it got this year as part of the record acquisition of BG Group Plc, according to people familiar with the matter. The Anglo-Dutch energy giant has been in talks with companies including privately held chemical producer Ineos Group… Continue Reading »
In less than two months UK citizens will make one of their biggest political decisions in more than 40 years: whether to remain or leave the EU trading bloc they have been part of since 1973. While an exit from the EU could mark a major milestone for the UK economy — the government fears… Continue Reading »
Shell has admitted it could make even deeper cuts to its North Sea workforce as part of a drive to slash spending and sell off assets after its £37bn takeover of BG Group earlier this year. The group has already axed 750 jobs from its North Sea business, of which two thirds were UK jobs,… Continue Reading »
Wood Group has been awarded a three year contract extending its support of Shell’s eight UKCS offshore assets. Wood Group PSN (WGPSN) will continue to deliver maintenance and construction services to the Shearwater, Gannet, Nelson, Curlew, Brent Delta, Brent Alpha, Brent Bravo and Brent Charlie installations. In addition WGPSN will provide engineering modifications to the… Continue Reading »
Hurricane Energy has found a new investor in private equity fund manager Kerogen Capital which is injecting 44.1 million pounds ($62 million) into the company for a nearly 30 percent stake, showing some rare appetite in oil deals amid weak prices. The share placement is also raising another 8 million pounds from existing shareholders Crystal… Continue Reading »
GeoSea, a part of DEME Group, has completed installation of all 54 foundations, including monopiles and transition pieces, for the 332 MW Nordsee One offshore wind project located in the North Sea. According to, Northland Power, one of the owners of the project with 85% interest, the foundations are up to 70 meters tall, and each one… Continue Reading »
Denmark on Wednesday issued 16 oil and gas exploration licenses in the North Sea, just days after A.P. Moller-Maersk threatened to shut down the country’s main gas field. The licenses were awarded to Danish and international players including Dong Energy, Hess Denmark, Wintershall Noordzee, Nordsofonden and Edisson International, Denmark’s Ministry of Energy, Utilities and Climate… Continue Reading »
Bibby Offshore has secured a contract with a North Sea operator, to deliver decommissioning operations in the Northern North Sea East Shetland Basin. The company will utilize one of its construction support vessels for the project, due to start in Q2 of 2016 and be completed by the end of 2016. Bibby Offshore will carry out remedial rock… Continue Reading »
