North Sea | Egypt Oil & Gas - Part 3

NIOC-Owned North Sea Field Given US Sanctions Waiver

The US Office of Foreign Assets Control (OFAC) has issued a waiver that will allow the bypassing of US sanctions placed on the Rhum gas field in the UK’s North Sea, which is 50% owned by the National Iranian Oil C ...

Faroe Petroleum Announces New Oil&Gas Discovery

The Aberdeen-based Faroe Petroleum has expanded its North Sea assets after discovering a new exploration oil and gas well in the Norwegian North Sea.

Apache North Sea Awards Subsea 7 Contract Offshore UK

Apache North Sea has awarded Subsea 7 a sizeable engineering, procurement, installation, and commissioning (EPIC) contract for the Callater field development, located 335 km northeast of Aberdeen, Scotland.

UK’s North Sea Oil Industry May See 45,000 Jobs Cut in 2016

British Oil and Gas companies located in UK's North Sea region could let go up to 45,000 employees in 2016, according to Sir Ian Wood, the former Chairman of Wood Group, an energy services company.

UK Announces Tax Relief for North Sea Oil&Gas Industry

UK Chancellor George Osborne has offered further tax relief for Britain’s oil and gas industry. The tax changes are expected to save the industry around $1.4b in the five financial years from 2016/2017 to 2020/2021.

IOG, Transocean Sign North Sea Oil Drilling Contract

Independent Oil and Gas (IOG), the North Sea focused oil and gas company, has signed a rig contract with Transocean Drilling procuring the Transocean John Shaw semi-submersible rig to drill an appraisal well on the S ...

Chemical Group INEOS Buys 12 North Sea Fields

The Swiss chemicals company INEOS has purchased 12 gas fields in the North Sea, Reuters reported.

Total Selling Midstream Assets in the North Sea

French oil and gas major Total is selling its midstream assets in the North Sea, reported Offshore ...

North Sea Shedding Assets, Employees

Oil and service companies operating in the North Sea are writing down assets and firing workers in an effort to lower production expenses,

Norway’s Economy Follows Oil Price

The economy of Norway is a “train wreck in slow motion,” according to Svenska Handelsbanken AB, reported Bloomberg. Norway is western Europe’s largest oil producer, with hundreds of offshore platforms and fields in t ...

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