Jun 19, 2013 - A Technical Committee Meeting of the joint-venture partners in the Norfolk prospect was recently hosted by First Oil Expro in Aberdeen. First Oil (35%) serves as the operator of Norfolk and has identified a potential well location after completing a detailed evaluation of 2D seismic data that was acquired in November 2012. Further evaluation will be done in the coming months and each partner will have the chance to consider its level of participation in the well. The joint-venture partners include Premiere Oil (25%), North Sea Energy (20%) and Cairn (20%). Norfolk is located in blocks 12/16b and 12/17b in the Inner Moray Firth off the northeast coast of Scotland. P50 recoverable resources have been estimated at 47 MMbbls.

Jun 17, 2013 - Ithaca Energy and Euroil Exploration, a wholly owned subsidiary of Edison International, have entered into a farm-out agreement for licenses P1631 and P1832 in the UK North Sea. Ithaca's Handcross prospect covers portions of each license. Upon completion of the farm-out, the Handcross partners will include Ithaca (45%) as operator, Euroil (25%), RWE (20%) and Sussex Energy (10%). The agreement is subject to normal regulatory and third party approvals before completion. A well is expected to be drilled on the prospect in late 2013 using the Stena Carron (UDW drillship).

Jun 13, 2013 - Ithaca Energy signed a $200 million managed services contract with Wood Group PSN (WGPSN). The life-of-field contract is a continuation of a contract that WGPSN was awarded in 2008. Terms dictate that WGPSN will operate and manage the Beatrice Alpha and Bravo platforms and the Nigg onshore terminal until the end of their operational life. Production started at Beatrice in 1981 with an estimated 30-year lifespan. Several asset life extension programs have been carried out that have greatly increased the life of the field.

Jun 5, 2013 - Based on the November 2012 agreement with BP, TAQA has taken over as operator of the producing Harding field in the Central North Sea with 70% equity. Acquisition of Harding should add roughly 22,000 boed to the company's production stream. The $1.05 billion deal will also see TAQA gain interest in the Maclure, Devenick fields and the Brae area development. Maersk Oil will remain as join venture partner in the field with a 30% stake.

Jun 5, 2013 - Partners in Faroes License 006, Statoil (50%), ExxonMobil (49%) and Atlantic Petroleum (1%), intend to reenter the Brugdan-2 well site in the first half of 2014. Drilling was suspended late in 2012 due to the severe weather that occurs off the Faroe Islands in winter months. Brugdan-2 was being drilled by the COSL Pioneer (mid-water semisub) in 1,476 feet of water.

Jun 5, 2013 - GDF SUEZ and E.ON E&P have entered into an agreement whereby E.ON will acquire 25% interest in the Austen field in UK license P1823. GDF SUEZ will retain 75% interest and operatorship of the development. If approved by the Department of Energy and Climate Change, the deal will allow the partners to accelerate the development of the field. Austen comprises a gas condensate discovery and two oil discoveries. It contains additional upside based on several structures that have yet to be appraised.

Jun 5, 2013 - Statoil, operator of the Johan Castberg discovery (formerly Skrugard) in the Barents Sea, has recommended a delay of the investment decision due, in part, to uncertainties related to resource estimates. In addition, the Norwegian government recently proposed reduced uplift in the petroleum tax system which reduces the attractiveness of developing marginal fields or those that require new infrastructure. Currently, Statoil and its partners are carrying out an exploratory drilling program in the area in an effort to prove additional resources that will serve to strengthen a potential development. Johan Castberg consists of the Skurgard and Havis discoveries which are estimated to contain combined volumes of 400 to 600 million barrels.

May 30, 2013 - Maersk Oil's Gryphon FPSO is back on location in the UK North Sea after undergoing an extensive overhaul to repair damage sustained during a storm in February 2011. Stability was lost after loosing four anchor chains. The vessel drifted off location causing considerable damage to the subsea architecture. Maersk took advantage of the repair period by acquiring 4D seismic over the Gryphon area, becoming the operator of the Maclure field and completing a successful drilling campaign in the Tullich field. Production through the FPSO is expected to exceed 20,000 boed once each field becomes fully operational again.