United Oil & Gas plc said it had today signed a confidential settlement agreement with Anasuria Hibiscus UK Ltd (AHUK) for the Crown disposal milestone payment. PAYMENT The Crown discovery lies in licence P2366 across Blocks 15/18d and 15/19b. “AHUK has agreed to pay United a total of US$2,500,000 (payable in three instalments between the date […]
Tag: North Sea
Europa raises £7m via discounted placing
Europa Oil & Gas (Holdings) plc has conditionally raised £7.02 million, before expenses, to fund a new acquisition in the North Sea. DISCOUNT The company added that this was at a 21.7 % discount to the 30-day volume weighted average share price on 2 March 2022. A Primary Bid offer, announced yesterday, is a separate and distinct offer, […]
Neptune plans to exceed net zero targets
Neptune Energy said it planned to exceed net zero targets and store more carbon than it emits by 2030 from its operations in the North Sea. CCS The company is working on two carbon capture and storage (CCS) developments in the Dutch and UK sectors of the North Sea. In a statement Neptune added that […]
Serica stops Rhum production due to fault in subsea control module
Serica Energy plc said it had temporarily shut down Rhum production after identifying a fault in the subsea control module. PROGRAMME The company added that there were currently no safety or environmental issues associated with the fault. “A programme to replace the control module is being planned utilising a spare module held in stock. “This […]
EnQuest lowers forecast over challenging production
EnQuest plc has lowered its forecast due to “challenging” production at Magnus and Kraken fields in the North Sea as well as in Malaysia. CHALLENGING The group expects production for the year to be around 45,000 boepd, including the contribution from Golden Eagle. The figure is lower than the 46,000 and 52,000 boepd announced in […]
Orcadian receives FPSO interests for Pilot oil field
Orcadian Energy plc said it had received three expressions of interest to provide an FPSO for the Pilot oil field development in the central North Sea. WIND POWER Three of four providers, currently operating FPSOs on the UK Continental Shelf, submitted detailed proposals. Orcadian expects discussions to take several months before it makes a decision. […]