News Archive for: May 2014

British Geological Survey says there are 4.4bn barrels of oil beneath Kent, Surrey and Sussex – a fraction of the total that has been recovered from the UK North Sea to date

NORTH SEA OIL* 26.6 billion – total barrels of oil extracted to date
330 million – barrels of oil…

Maersk Oil UK has released the first images of what its Culzean project – one of the largest North Sea gas discoveries of recent years – will look like.

The firm, along with its co-venturers JX Nippon Exploration and Production and Britoil have chosen a new standalone facility to develop…

The UK’s top oil bosses have pleaded with UK Government ministers for a simple and predictable tax regime for the North Sea.

Industry leaders met with Financial Secretary to the Treasury Nicky Morgan yesterday for talks on future fiscal regime for the sector.

She is spearheading the North Sea tax review…

The UK Government will officially launch its review of the North Sea oil and gas tax regime today.

Financial Secretary to the Treasury Nicky Morgan is to jet into Aberdeen for talks with oil and gas leaders this morning.

The fiscal forum will outline the scope and objectives of the review…

North Sea oil firm EnQuest has reported strong production growth and confirmed its £4bn Kraken field project off Shetland is proceeding to plan.

The company said oil production was up 25% on the same period last year.

Aberdeen-based EnQuest is also “well on track” to produce an average of 25,000-30,000 barrels…