north sea

BP announces acquisition of interests in the Jock Scott and Craster North Sea exploration prospects

BP announced today that it has acquired interests in two North Sea exploration prospects, Jock Scott and Craster, in a further demonstration of the organisation’s commitment to the basin. BP has acquired a 25% interest in the Statoil-operated licenses located to the east of Shetland, P2275 and P2097, which includes the Jock Scott prospect, and a 40% interest in the nearby P2163 and P2147 licenses. Statoil will remain the operator

PARKMEAD DOUBLES ITS STAKE IN TWO UK OIL FIELDS

Parkmead, the UK and Netherlands focused independent oil and gas group, is delighted to announce that it has doubled its stake in the Polecat and Marten oil fields in the UK Central North Sea. The Polecat and Marten fields are located in Blocks 20/3c & 20/4a within Licence P.2218. Parkmead has acquired a further 50% of Licence P.2218, and now operates the licence with 100% equity. Parkmead initially secured its

Suncor Energy to acquire interest in North Sea Rosebank project

Suncor Energy UK Limited (“Suncor”) today announced it will acquire a 30 per cent participating interest in the U.K. North Sea Rosebank project from OMV (U.K.) Limited. Under the terms of the agreement, Suncor will make an initial payment of US$50 million on closing. The transaction is subject to conditions, including regulatory approval, and is anticipated to close in the fourth quarter of 2016. In the event the co-venturers approve

DONG Energy divests five Norwegian oil and gas fields to Faroe Petroleum

DONG E&P Norge AS (DONG Energy) divests its ownership shares in five producing Norwegian oil and gas fields to Faroe Petroleum Norge AS (Faroe).  The fields are Trym, Oselvar, Tambar (including Tambar East) and Ula. David Cook, Executive Vice President in DONG Energy, says: “It is very satisfying that we have reached an agreement with Faroe in respect of these five assets. This transaction is an important step towards optimising

BP doubles its interest in North Sea Culzean field development

BP announced today it has doubled its interest in the Culzean development in the UK Central North Sea, following its acquisition of an additional 16% interest from JX Nippon. The acquisition increases BP’s interest in the development from 16% to 32%. “We are pleased to have deepened our interest in Culzean and we look forward to helping Maersk make this important central North Sea development a success,” said Mark Thomas,

JX Nippon sold part of working interest of Culzean Gas Field in UK North Sea

JX Nippon Oil and Gas Exploration Corporation (President and CEO, Shunsaku Miyake) is pleased to announce that its wholly owned subsidiary, JX Nippon Exploration and Production (U.K.) Limited (“JXNEPUK”) (President and CEO, Kemmei Nakata) sold a 16% working interest in Licence No. P.111, Block 22/25a, containing the Culzean Gas Field, to Britoil Limited (a subsidiary of BP plc). As a result of this transaction, the participating interest of JXNEPUK in