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News Archive for: November 2014

EnQuest awarded for prolonging Thistle life:

EnQuest has received recognition for its success in extending the life of one of the North Sea’s older assets. The company won the Business Innovation title in the Large Enterprise category at last night’s Oil & Gas UK awards ceremony.
EnQuest’s Thistle Late Life Extension (LLX) project is at the heart…

UK announces 134 awards in 28th offshore licensing round:

The UK’s 28th offshore licensing round has resulted in the issuance of 134 licenses covering 252 blocks. The announcement was made by the UK Department of Energy and Climate Change.

“This successful licensing round, which is on track to be one of the biggest rounds ever in 5 decades, is…

Cheaper oil may keep rates stable:

Interest rates are expected to remain on hold tomorrow as the recent fall in oil prices eases pressure on the Bank of England for an imminent hike.

The Bank rate has been left at 0.5% for more than five years but expectations of an upward move have dwindled in recent…

North Sea oil development ‘to produce up to 70,000 barrels per day’:

A North Sea development expected to produce up to 70,000 barrels of oil per day has begun operations.

Nexen’s Golden Eagle Area Development, which incorporates three separate fields, is predicted to reach peak production in 2015.

Meanwhile, two of the North Sea’s oldest facilities, Brent Alpha and Brent Bravo, ended their…

Oil prices continue to fall:

Brent crude fell towards $84 a barrel on Tuesday, extending losses to a fourth session after top oil exporter Saudi Arabia cut prices to the US. The cut hammered oil prices on Monday as it underscored Saudi efforts to fight for market share in the world’s largest oil consumer…

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