Europe

Ireland’s Providence Resources has confirmed it has received the final payment of US$6 million for the sale of its Nigerian interest, OML 113.

The payment marks the end of Providence’s asset portfolio restructuring, allowing it to focus on its core areas of offshore Ireland and onshore United Kingdom.

Providence divested its Nigerian subsidiary, which holds its interest in OML 113 offshore Nigeria, to Jacka for a total consideration of $16 million, $10 million of which was paid in December 2011, with the balance of $6 million to be paid in April 2012.

Japanese car maker Nissan has announced that its all-new mid-sized hatchback will be produced at its Sunderland plant in the UK.

The as-yet unnamed new medium hatchback will create an additional 225 jobs at Nissan and 900 jobs at component companies supplying Nissan in the UK. The car will be manufactured from 2014.

The news follows the announcement at last month's Geneva Motor Show that Sunderland will also produce a mainstream B-segment compact car based on Nissan’s Invitation concept from next year.

Jaguar Cars has confirmed that it will bring an all-new sports car into production, to be known as the F-TYPE.

Speaking at the New York auto show Adrian Hallmark, global brand director, Jaguar Cars, confirmed: "We showed the C-X16 concept in September 2011, and the reaction to it has been so positive that we've accelerated our development of an all-new Jaguar sports car.

Scottish oil explorer Cairn Energy has announced the acquisition of Agora Oil & Gas, a private Norwegian company with non-operated, exploration, appraisal and development assets in the United Kingdom and Norwegian North Sea.

The transaction is subject to consent from the relevant regulatory authorities in the UK and Norway.

Agora will add drilling activity to Cairn's 2012 exploration and appraisal programme, with nine wells, eight firm and one contingent, scheduled to be drilled in the UK and Norway in 2012.

Rolls-Royce has won a £24 million order to design and equip four offshore service vessels to be built by COSCO (Guangdong) Shipyard in China.

The Rolls-Royce UT 771 CDL vessels will feature a fully integrated equipment system including highly efficient diesel electric propulsion, deck machinery, bulk handling equipment and automation and control systems.

The vessels will be equipped for transporting pipes, equipment and cargo to and from pipe-laying barges, oil drilling and production platforms, as well as for fire fighting.

Drinks maker William Grant & Sons is investing €35 million into a new distillery in Ireland for the production of Tullamore Dew whiskey.

The new distillery is to be built on a 58-acre site in Tullamore, Co. Offaly. The location of the facility is close to the site where the whiskey was originally made, which closed in 1954. Work on the new site is expected to be completed by the end of 2014.

The UK government is set to announce a £350 million contract to refit one of its nuclear submarines in a move that will secure 2,000 jobs.

The work, which will be carried out at Babcock's Devonport Dockyard in Plymouth, will include fitting the Royal Navy's HMS Vengeance with a new reactor core, as well as refitting and refuelling of the vessel.

Equipment on board the submarine will be completely overhauled, with missile launch capabilities improved and computer systems upgraded. The work programme is expected to last between three and four years.

Electronic systems provider API Technologies has completed the acquisition of UK-based C-MAC Aerospace Ltd for £20.95 million (approximately $33 million).

With facilities in Great Yarmouth and Milton Keynes, UK, C-MAC is a leading provider of high-reliability electronic systems, modules, and components to the defense, aerospace, space, industrial, and energy sectors.

Scotland’s energy minister Fergus Ewing has announced a new £103 million investment fund designed to drive the growth of renewable energy in Scotland.

The Renewable Energy Investment Fund (REIF) will initially focus on supporting communities and rural businesses to develop their own local renewable projects. It will also support district heating, and wave and tidal developers with the development and deployment of array projects.