North Sea Reporter

Published by KL ENERGY PUBLISHING LTD.

North Sea Reporter is an established and respected weekly publication which provides in-depth news and analysis of the NW European offshore oil and gas industry. 

Rig Market

Borr Drilling has secured a new drilling contract from Nexen for the high-spec jack-up Prospector 5. The operator will use the rig to drill an exploration well in the Cairngorm prospect in UK central block 22/21c. The contract is scheduled to start in early-August and is reported to cover a firm period of around 150 days. The 2014-built jack-up has been kept warm-stacked in Rotterdam since December after finishing a long-term contract with Total. It will have been idle for around eight months by the time it gears up to start drilling for Nexen.

Field development

Equinor has been granted energy ministry approval for the PDO for the Snorre Expansion project, in blocks 34/4 and 34/7. The project, with an estimated capex of just over NKr19 billion ($2.4 billion), is expected to increase recovery from the Snorre field by almost 200 million barrels, from 46% to 51%, and extend field life, originally put at 2011–2014, beyond 2040. Equinor estimates that around 80% of the investment will include Norwegian companies, with around 23,000 man-years being carried out in Norway in the project phase. Production is scheduled to start in 2021.

Companies

Spirit Energy is set to assume operatorship of the UK Babbage field, in block 48/2a, in which it has a 13% stake. It will also take on operatorship of the nearby Cobra discovery, in 48/2c, and plans next year to drill an exploration well in the adjacent Python prospect, in 48/1b, to prove up reserves in the region further. The transfer of operatorship from existing operator Premier Oil is subject to completion of Premier’s divestment to Verus Petroleum of its holdings in Babbage and Cobra licence P.1243 and securing regulatory approvals.

 

Weekly coverage includes:

  • Rig Market - contracts, dayrates and utilisation
  • Drilling – a round-up of North Sea activity  
  • Construction and engineering
  • Field development and production
  • Contract awards
  • Company news
  • Data tables of industry activity
  • Mediterranean & W. Africa briefing
  • News briefs