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.
Here’s a roundup of the latest E&P headlines, including an ultra-deepwater discovery and new contract awards.
OKEA expects first production in 2027 and has signed contracts with Aker Solutions, Subsea7 and OneSubsea.
Here’s a roundup of the latest E&P headlines, including new contract awards.
Here’s a roundup of the latest E&P headlines, including a FEED planned for Venus and new contract awards.