The Parkmead Group will write off its Perth oil development in a non-cash one-off impairment of approximately £33 million because of “unprecedented challenges” in the hydrocarbon sector. ISSUES In its business review, the company said that it had re-evaluated its direction following “volatile oil and gas prices, ageing infrastructure and rising capital and operating costs”. […]
Tag: Greater Perth Area (GPA) – Outer Moray Firth – UK North Sea
Parkmead starts Greater Perth Area farm-out process
The Parkmead Group plc has started the farm-out process for its 100% development project in the Greater Perth Area (GPA) in the North Sea. GPA The company said it had engaged energy corporate finance advisory firm, Gneiss Energy Ltd, to find a suitable partner or partners for the project. The core Perth field holds some […]