News Archive for: August 2013

London-listed Premier Oil saw profits rise during the first half of 2013 as revenues rose and exploration expenses shrank.

The company posted a net profit of $161.1 million for the first six months of the year, compared to a profit of $145.8 million during the first half of 2012.

Helping lift…

Oil & Gas UK’s 2013 Economic Report, published today (21 August), highlights how the renewed commitment from the Government and industry to extract oil and gas from the UK’s Continental Shelf (UKCS) is succeeding in promoting investment to an all-time record of £13.5 billion this year.

Oil & Gas UK’s…

UK independent Premier Oil reported Tuesday that it has agreed to sell its 20-percent interest in Norwegian production licenses PL378 and PL378B to Capricorn Norge – a wholly-owned subsidiary of Cairn Energy for $16 million.

PL378 and PL378B are located in the Norwegian North Sea and they contain the Grosbeak…

Norwegian oil giant Statoil is to sell off its stakes in the Schiehallion and Rosebank North Sea fields as part of a deal worth at least $2.65billion.

The company, which is also reducing its stake in the Gullfaks and Gudrun Norwegian North Sea fields, could make a further $500million from…

Statoil has made a new oil find in the Norwegian Sea, the country’s petroleum directorate has confirmed.

The small discovery was made during the drilling of a wildcat well at the site, 12km south of the Norne field.

The discovery is estimated to be under one million cubic metres of recoverable…