News Archive for: October 2014

GDF Suez and BP have made a new oil discovery in the UK Central North Sea.

The new exploration well, located in block 30/1c, was flow tested at a maximum rate of 5,350 barrels of oil equivalent per day.

The discovery, dubbed ‘Vorlich’ by BP and ‘Marconi’ by GDF Suez, is…

The Danish Energy Agency (DEA) has received a record number of applications in its seventh licensing round for oil and gas in the North Sea.

Applications have been made by several companies who have previously not held licences in Denmark.

A total of 15 companies, including Maersk, Shell, Dana Petroleum ,…

The Norwegian company said drilling at well 25/8-18 S, had proved an oil column of 25 metres in the Heimal formation.

The discovery, first proven in 1992, contains between 30 and 80 million barrels of recoverable oil.

Statoil said one of the solutions for the discovery could be to tie in…

The price of Brent crude has steadied at $86 a barrel, after the announcement of a cut in Saudi-Kuwait oil output.

Production at the Khafji oilfield has been stopped temporarily for environmental reasons.

The news was seen as a positive factor by traders at a time when crude oil production has…

A North Sea gas field is set to create 1,500 Scottish jobs and boost the UK economy by £1.3billion.

Oxford University has released a report into the substantial Cygnus gas project, which started drilling at its North Sea site yesterday.

Cygnus is the UK’s largest gas field discovery in the southern…