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North_Sea

News on North Sea.

Scorpio says new offshore investment is first of several

Scorpio Group, mostly known for its two shipping companies, has with its acquisition of Nordic American Offshore taken a definitive step into the North Sea. And there could be more in store. "Things are developing very quickly," President Emanuele Lauro tells ShippingWatch.

Ørsted kicks off massive investment plan for offshore

Energy major Ørsted, formerly Dong, has presented a plan detailing its ambitions for the year to come. Combined gross investments ahead of 2025 total DKK 200 billion, of which the vast majority will be spent on offshore.

New owners in the North Sea will put pressure on costs

2017 has brought an entirely new concentration of owners of oil fields in the North Sea, which could put renewed pressure on costs and thus suppliers. Aker BP's costs need to be reduced further than the current USD 11 per barrel, CEO Karl Johnny Hersvik tells ShippingWatch.

Aker BP buys Hess Norway for USD 2 billion

Aker BP has acquired Hess Norway for USD 2 billion, informs the company. The deal makes Aker BP sole owner of several fields which, according to the company, hold significant potential.

Hitec Vision to invest huge sums in North Sea oil

Equity fund Hitec Vision plans to spend more than a billion dollars acquiring oil fields in the British part of the North Sea. Massive cost reductions have made the market attractive, says the investment director.

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