News Oil & Gas

Baron Oil exits UK

Baron Oil plc has exited the UK after failing to secure new North Sea blocks in the 33rd licensing round and the earlier relinquishment of the Dunrobin-Golspie joint venture licence. Chief executive Dr Andy Butler said: “We can now focus all our attentions on our core area of SE Asia, where we have an exciting […]

News Oil & Gas

JOG agrees 50% farm-out with NEO for Greater Buchan

Jersey Oil & Gas plc (JOG) has agreed a 50% farm-out with NEO Energy for the Greater Buchan area (GBA) licences in the North Sea. TRANSACTION TERMS The GBA comprises P2498 and P2170 licences, which contain the Buchan oil field, the J2 and Verbier oil discoveries and a number of exploration prospects. JOG said that […]

Finance News Oil & Gas

Orcadian focuses on funding and farm-in for Pilot

Orcadian Energy plc said its main aim for 2023 was to find a partner and new investors to develop the Pilot oil field in the central North Sea. FINANCES In its unaudited results for H1 2022, the company added it planned to improve the technical and commercial definition of Pilot’s development as well as maximise […]

News Oil & Gas

UK North Sea flaring decreases 50%

UK North Sea flaring has fallen by 50% following four consecutive years of reductions while venting last year increased, said the North Sea Transition Authority (NSTA). EMISSIONS Offshore flaring, when excess gas is burned off, decreased in 2022 by 13% to 22 billion cubic feet (bcf), contributing to a total reduction of 50% since 2018 […]

News Oil & Gas

NSTA investigates flaring and venting without consent

The North Sea Transition Authority in investigating an oil and gas company for flaring and venting without consent in the North Sea. ENERGY WASTE Possible likely action by the regulator includes a fine or up to the relevant licence being taken away. “Monitoring flaring and venting and reducing emissions are vital parts of the NSTA’s […]