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Latest news - Regional

Ed Miliband says Labour will honour pledge of £11.6bn in overseas climate aid

Ed Miliband says Labour will honour pledge of £11.6bn in overseas climate aid   Public sector pay rises are going to cost £9bn* while Miliband plans to send £11.6bn abroad for climate crisis. Combined, these plans will come at an estimate cost of £20bn to the UK taxpayers. Meanwhile, the government claims there is a budgetary black hole of exactly that amount. As Labour gears up for this year’s 'climate-emergency' summit in November,...

Aberdeen will win GB Energy HQ, say industry sources

Aberdeen will win GB Energy HQ, say industry sources   Business bosses in the central belt are certain Aberdeen will be home to the headquarters of Labour's Great British Energy, despite reports suggesting Glasgow and Edinburgh are also under consideration. “All the intel we have received on GB Energy is that it is a done deal for Aberdeen,” one senior source with knowledge of the sector told The Herald. “We're not expecting a formal bidding or campaign...

Deltic will drill its first North Sea exploration well this year

Deltic will drill its first North Sea exploration well this year   Shell’s Valaris 123 will soon begin drilling 2024’s first well at Deltic Energy’s Selene prospect. Deltic holds a 25% interest Selene after sourcing the project to Shell in 2019 and Dana Petroleum in February 2024. The well is designed to collect all key information in relation to reservoir quality and gas composition that is required to support a plan and final investment decision on the potential...

Parkmead to develop North Sea heavy oil accumulation

Parkmead to develop North Sea heavy oil accumulation Parkmead Group PLC has been awarded the P2634 license by the North Sea Transition Authority as part of the 33rd UK offshore licensing round.   Parkmead Group PLC has been awarded the P2634 license by the UK Government’s North Sea Transition Authority (NSTA) as part of the 33rd UK offshore licensing round. This license is in addition to three other blocks previously awarded. The license is in the Outer Moray Firth and com...

Offshore Energies responds to Scottish government carbon capture promise

Offshore Energies responds to Scottish government carbon capture promise   Commenting ahead of the Scottish First Minister’s visit today to the Acorn carbon capture and storage project at St Fergus, Aberdeenshire, which will store carbon underneath the North Sea using pipelines, Jenny Stanning external affairs director of Offshore Energies UK said: ‘With the right investment the UK offshore energy industry can deliver a framework to maximise our storage potential which...

Harland & Wolff lines up administrators after £200m taxpayer bailout is rejected

Harland & Wolff lines up administrators after £200m taxpayer bailout is rejected   Harland & Wolff has lined up administrators as vulture funds prepare to pick apart the sinking company behind the shipyard that built the Titanic. Contingency plans are being drawn up by insolvency experts from Teneo in case a phalanx of financial advisers fail to thrash out an interim rescue deal. Accountancy firm EY is advising officials from the Department for Business on its opti...

Canada's Tenaz Energy to buy Dutch NAM's offshore assets for $180 mln

Canada's Tenaz Energy to buy Dutch NAM's offshore assets for $180 mln   Canada's Tenaz Energy, opens new tab on Thursday said it had entered into an agreement with NAM, a joint venture between Shell, opens new tab , ExxonMobil, opens new tab and the Dutch government, to acquire all issued and outstanding shares of NAM Offshore B.V. for 165 million euros($180.33 million). The Nederlandse Aardolie Maatschappij operates the Groningen gas field in the Netherlands. Tenaz...

ESG reporting vital to unlocking investment in North Sea

ESG reporting vital to unlocking investment in North Sea   New standards and requirements have helped drive consistency and transparency of ESG disclosures Executive pay being linked to key ESG metrics such as emissions cuts Licensees urged to provide more information about their supply chain engagements Top-quality environmental, social and governance (ESG) disclosure is crucial to attracting further investment into the UK’s oil and gas industry, a report from the...

OKEA submits North Sea Brage area development plan

OKEA submits North Sea Brage area development plan OKEA provides offshore project advancements in its latest trading update.   OKEA has brought onstream the Talisker east well through the Brage platform in the Norwegian North Sea, the company said in a trading update. Its Fensfjord north infill well project should also start production during the current quarter. In May the company submitted an exempt development and operation application for the Sognefjord east and Kim area...

Key areas for energy industry partnership in King's speech

Key areas for energy industry partnership in King's speech   Offshore Energies UK says today’s King’s Speech sets out an ambitious programme for realising the priorities of the new government. The speech outlines serious proposals for the energy sector and economic growth that will be debated over the coming days and weeks and which come hot on the heels of OEUK’s new blueprint for net zero power. OEUK has called on the government to now honour its pre-ele...

Labour tax raid on oil and gas industry could cost up to 100,000 jobs

Labour tax raid on oil and gas industry could cost up to 100,000 jobs   Up to 100,000 jobs are at risk if Labour presses ahead with its attack on oil and gas drillings in the North Sea, business chiefs have warned. Investment worth £30billion and tax receipts totalling £20billion could also be lost by 2029, according to the Aberdeen Chamber of Commerce. The energy sector was already reeling from a windfall tax introduced by the Tories after Russia’s invasion of...

North Sea data upload will support energy transition

North Sea data upload will support energy transition   National Hydrocarbons Data Archive files now accessible through the National Data Repository Offshore well and survey information available at the touch of a button  Huge boost to varied North Sea projects  The search for carbon storage and windfarm sites has received a significant boost with the transfer of valuable files from the National Hydrocarbons Data Archive (NHDA) to the National Data Repository (NDR)....

North Sea Dogger Bank wind developments shift to pre-examination phase

North Sea Dogger Bank wind developments shift to pre-examination phase RWE and Masdar’s development consent order application for the Dogger Bank South fixed wind farms has secured approval to enter the planning inspectorate examination phase.   RWE and Masdar’s development consent order application for the 3-GW Dogger Bank South (DBS) fixed wind farms in the UK southern North Sea has secured approval to enter the planning inspectorate examination phase. RWE entered...

North Sea oil giant Harbour Energy stays in Vietnam

North Sea oil giant Harbour Energy stays in Vietnam   The biggest oil producer in the North Sea has ditched plans to sell its Vietnamese arm to a local company for £65million. Harbour Energy announced the deal with Vietnamese group Big Energy last year and expected to complete it by this summer. But the FTSE 250-listed group has pulled out and The Mail on Sunday understands it is seeking a higher price. Harbour is keen to quit Vietnam and boss Linda Cook last year said...

EIC Welcomes New Government and Looks Forward to Collaboration on Energy Policy

EIC Welcomes New Government and Looks Forward to Collaboration on  Energy Policy The Energy Industries Council (EIC) has unveiled a new policy manifesto calling for a unified energy policy, clear project pipelines, enhanced international trade support, and integrated supply chain to drive the UK's energy transition.   London, 11 July 2024 – The Energy Industries Council (EIC) warmly welcomes the new government and looks forward to a productive collaboration in the co...

Miliband overrules officials with immediate ban on new North Sea oil

Miliband overrules officials with immediate ban on new North Sea oil   Ed Miliband has ordered an immediate ban on new drilling in the North Sea in a decision that overrules his own officials and risks triggering a wave of legal action. In an unusual intervention into what is typically an apolitical process, the Energy Secretary has told regulators not to approve a new round of drilling that was slated for confirmation in the coming weeks. His decision to block the licences mea...

Wellesley Proves Oil and Gas in Gnomoria in Norwegian North Sea

Wellesley Proves Oil and Gas in Gnomoria in Norwegian North Sea   Wellesley Petroleum AS has made an oil and gas discovery in the first appraisal well to be drilled under Production License 1184 S, an area on the Norwegian side of the North Sea. Gnomoria well 35/10-12 S is estimated to hold 800,000 to four million cubic meters (28.3 million to 141.3 million cubic feet) of recoverable oil equivalent based on preliminary findings, the Norwegian Offshore Directorate said in a stateme...

Deltic Energy formally accepts UKCS licence

Deltic Energy formally accepts UKCS licence The company's preliminary evaluation suggests that the Pharos discovery and the Blackadder prospect are a single Leman Sandstone structure.   UK-based Deltic Energy has officially accepted Licence P2672, provisionally awarded by the North Sea Transition Authority (NSTA) as part of the UK’s 33rd Offshore Licensing Round.   The UK Continental Shelf (UKCS) licence encompasses blocks 47/5e, 47/10c and 48/6c to the west of th...

TotalEnergies to deploy Shelf Drilling Winner jack-up rig for work offshore Denmark

TotalEnergies to deploy Shelf Drilling Winner jack-up rig for work offshore Denmark   Shelf Drilling announced that a subsidiary of Shelf Drilling (North Sea) (“SDNS”) has secured a new 17-month contract for the Shelf Drilling Winner jack-up rig with TotalEnergies EP Denmark. The contract value for the firm period is approximately $68 million, and the contract also includes two 7-month options. The planned start-up of operations is set for March 2025 in direct continuat...

The U.K. North Sea Oil Industry Is in Decline

The U.K. North Sea Oil Industry Is in Decline   North Sea oil production is declining due to the depletion of reserves and a global shift towards renewable energy. The UK government has been criticized by activists for prioritizing oil and gas over renewables. Labor unions and environmental groups urge the government to invest in a "just transition" for oil workers into green jobs. The U.K. North Sea oil operations are in decline and even the recent natural gas b...
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