Kraken emerges

In mythology, the Kraken was a giant sea monster that dwelled in the present day North Sea. Today, the Kraken field is emerging with production growing day-by-day and a target to reach 50mbopd in H1 2018. Gross production reached 23mbopd in November (month average) and the second processing train was brought online at the end of the month. The final DC2 production well is now onstream and the DC3 wells are near completion and expected to be brought...

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Siccar Point portfolio tidy-up

Siccar Point has an attractive long-term portfolio currently weighted developments. The portfolio includes a number of earlier stage opportunities. In November, the company took the opportunity to prune the portfolio - bringing in a partner on Lyon and selling Jackdaw to a more natural pair of hands. On 21st November, Siccar Point announced that it had farmed out UK licences P1854 and P1935 to Ineos. The blocks are located in the West of Shetlands...

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Statoil acquires Martin Linge from Total for USD1.45bn

Total has agreed to sell all of its interests in the Martin Linge field (51%) and Garantiana discovery (40%) on the Norwegian Continental Shelf to Statoil for USD1.45bn with an effective date of January 1st, 2017.Statoil will also receive remaining tax balances with a nominal post-tax value of more than USD 1 billion. Martin Linge is a long life oil and gas development with estimated recoverable resources in excess of 300 mmboe. Originally scheduled...

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Eni signs EPSA for Block 52 offshore Oman

The Government of the Sultanate of Oman, Oman Oil Company Exploration and Production ("OOCEP"), a subsidiary of state company Oman Oil Company ("OOC"), and Eni today entered into an Exploration and Production Sharing Agreement ("EPSA") for Block 52, located offshore Oman. Block 52 is an underexplored area with hydrocarbons potential located offshore in the southern region of Oman. Block 52 has an area of approx. 90,000 Km2, with water depths...

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