In exchange for Vår’s producing assets in the Norwegian Sea, DNO is paying $51 million and transferring to Vår its 22.6% interest in the Ringhorne East unit in the North Sea.
SLB OneSubsea, a joint venture including SLB and Subsea7, have been awarded a contract by OKEA that will develop the Bestla Project offshore Norway.
TGS is utilizing two laser imaging and ranging buoys to receive detailed wind measurements and metaocean data, with the goal of supporting decision-making in wind lease rounds in the German Bright.
Here’s a roundup of the latest E&P headlines, including technology milestones and new contract awards.
The leasing round attracted 115 bids from 76 companies vying for 257 blocks and partial blocks in the U.K. Continental Shelf.
Work is expected to begin immediately on Equinor’s Wisting and Bay Du Nord projects.
Eni, one of Italy's biggest energy companies, will transfer its U.K. business in exchange for 38.5% of Ithaca's share capital, while the existing Ithaca Energy shareholders will own the remaining 61.5% of the combined group.
AKER BP’s project marks the first time subsea production systems have been reused on the Norwegian Continental Shelf.
Vår Energi’s North Sea discovery de-risks drilling prospects in the area and could be tied back to Balder area infrastructure.
EnQuest has struggled in recent years with high debt levels and a drop in profits after Britain imposed a 35% windfall tax on North Sea producers.