North Sea Energy Inc. Withdraws from Jacky Field

North Sea Energy Inc. is withdrawing from the Jacky field in the UK sector of the North Sea.

The company yesterday announced it had signed an agreement with Ithaca Energy (UK) Limited and Dyas UK Limited , whereby under the terms of the Agreement, North Sea Energy agrees to withdraw from the Jacky Field (P.1392, Block 12/21c), effective December 31, 2013.

The Agreement settles all outstanding issues and releases the Company of all future costs including decommissioning liabilities from the effective date. The Jacky Field is located 12 miles off the Scottish coast and has been producing light oil.

Prior to completing the Agreement, NSE UK held a 10% interest in the Jacky Field, while its partners, Ithaca and Dyas, held 47.5% and 42.5% interests respectively. Ithaca is the Operator of the Jacky Field.

“This Agreement removes a substantial amount of future financial uncertainty for NSE,” stated NSE CEO, Craig Anderson.  The Agreement is subject to the approval of the Department of Energy and Climate Change (DECC).

 

 February 05, 2014

 

Share this article

Follow Offshore Energy Today

Events>

<< Dec 2019 >>
MTWTFSS
25 26 27 28 29 30 1
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29
30 31 1 2 3 4 5

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply