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North_Sea

News on North Sea.

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.

Professor: Tax pressure pushed Total out of Norway

Total's plans to establish its regional headquarters in Denmark has provoked concerns in Norway. "What we now see is that the major companies are pulling out of Norway," says a professor of oil economics to Dagens Næringsliv.

Chevron ready for major North Sea investment

Another oil company shows signs of restored faith in the North Sea and is now preparing an investment which could trigger a USD 100 million reward for Dong Energy despite divestment.

Equity funds enter North Sea with billion-dollar investments

Three years after the oil plunge began, the market is now finally starting to restore itself – with wholly different prices and all new players. Some of these are major international equity funds entering the North Sea with billion-dollar investments. Read on to learn who these new funds are.

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