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INEOS to invest £1 Billion in UK

INEOS to invest £1 Billion in UK

March 19, 2019 No Comments

INEOS is to invest £1 billion in the UK in multiple projects designed to ensure its British assets stay world class for a generation. The biggest investment being announced is in the Forties Pipeline System (FPS). This £500 million investment will transform the asset and extend the life of the pipeline by at least twenty […]

Oil discovery from Visund in the North Sea

Oil discovery from Visund in the North Sea

March 4, 2019 No Comments

Equinor has, together with partners Petoro, ConocoPhillips and Repsol, made an oil discovery from the Visund A platform in the Telesto exploration well in the North Sea. The resources are estimated at 12-28 million barrels of recoverable oil. “We are pleased to have made a new discovery on Equinor-operated acreage on the Norwegian continental shelf […]

Apache Announces Fourth-Quarter and Full-Year 2018 Financial Results

Apache Announces Fourth-Quarter and Full-Year 2018 Financial Results

February 28, 2019 No Comments

Apache Corporation (NYSE, Nasdaq: APA) today announced its financial and operational results for the fourth-quarter and full-year 2018. Apache reported a loss of $381 million or $1.00 per diluted common share during the fourth-quarter 2018. When adjusted for certain items that impact the comparability of results, including primarily the impact of asset impairments in the […]

Forties Pipeline System investment Positive for North Sea future

Forties Pipeline System investment Positive for North Sea future

February 27, 2019 No Comments

The leading representative body for the UK’s offshore oil and gas industry has today welcomed news INEOS is to invest £500m in the Forties Pipeline System as a vote of confidence in the future potential of the industry. INEOS said today that the investment will transform the asset and extend the life of the pipeline […]

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CNOOC Announce a New Discovery in UK North Sea

CNOOC Announce a New Discovery in UK North Sea

February 4, 2019 No Comments

CNOOC Limited (the “Company”, SEHK: 00883, NYSE: CEO, TSX: CNU) announced a new discovery on the Glengorm prospect, located in offshore UK Central North Sea. The Glengorm discovery is located in License P2215 with a water depth of approximately 86 meters. The exploration well Glengorm was drilled to a total depth of 5,056 meters and […]

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Vår Energi AS (Eni 69.6%)  awarded 13 licenses in Norway

Vår Energi AS (Eni 69.6%) awarded 13 licenses in Norway

January 21, 2019 No Comments

Eni through Vår Energi, jointly owned by Eni (69.6%) and by HitecVision (30.4%), has been awarded a total of 13 licenses in the Awards in Predefined Areas 2018 (APA) by the Ministry of Petroleum and Energy of Norway (MPE). The company has been granted the following 4 operatorships and 9 partnerships in licenses covering all […]

DEA awarded nine new licences in Norway

DEA awarded nine new licences in Norway

January 15, 2019 No Comments

The Norwegian Ministry of Petroleum and Energy has awarded nine new licenses on the Norwegian Continental Shelf (NCS) to DEA in this year’s Awards in Predefined Areas (APA). Four of the awarded licences are located in the Norwegian Sea, three in the North Sea and two in the Barents Sea. DEA will be operator in […]

DNO’s Offer substantially undervalues Faroe by 48 per cent

DNO’s Offer substantially undervalues Faroe by 48 per cent

January 2, 2019 No Comments

Independent expert’s asset valuation highlights the inadequacy of DNO’s Offer The Board of Faroe (the “Board”, “we”) announces that it is today publishing an independent current valuation report on Faroe’s assets which implies a valuation for Faroe in the range of 186p to 225p per share1. This independent valuation report clearly highlights the inadequacy of […]

Faroe Announce Results of Brasse East Exploration well

Faroe Announce Results of Brasse East Exploration well

January 2, 2019 No Comments

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, announces the results of the Brasse East exploration well 31/7-3 S and the Brasse appraisal sidetrack 31/7-3 A in the northern North Sea (Faroe 50% working interest and operator). The Brasse East exploration well […]

Petrofac Announce Trading update

Petrofac Announce Trading update

December 19, 2018 No Comments

Petrofac issues the following pre-close trading update ahead of the announcement of its full year results for year ending 31 December 2018 on 28 February 2019. Trading in line with expectations New order intake(1) of US$5.0 billion in the year to date Net debt is expected to be around US$250 million at 31 December 2018 […]

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