• Independent producer’s 2021 exploration budget will remain flat at around $150 million. • The plan is designed to facilitate progress toward net-zero-emissions targets by focusing on the government’s 10-point plan for a green industrial revolution. • The Norwegian Petroleum Directorate and Equinor have announced the biggest discovery so far this year on the Norwegian Continental Shelf. Three wildcat wells drilled in the Blasto prospect near the Fram field confirmed the find and were then permanently plugged and abandoned. • Flaring in the UK North Sea fell by 22% in 2020 from the previous year as production facilities cut the overall volume to 33 Bcf, a reduction that is roughly equivalent to the gas demand of 200,000 UK homes. • The drilling program is the first exploration well to be drilled in production license 785 S. • Debt-riddled Premier will emerge as Harbour, seen valued at around$5 billion.
• BP agreed 1 year ago to sell its interests to Premier Oil for $625 million. The companies later restructured the deal and BP lowered its cash value to$210 million. The transaction fell through after Premier was taken over by Chrysaor in October 2020.