Saturday, October 21, 2017

Norway News

Sweden Dwarfs Norway in New Wind Power, but Not for Long

Norway has lagged neighbour Sweden in attracting wind power projects but planned changes to tax rules are expected to lure investors back. Norway and Sweden launched a common renewable support scheme in 2012, the first of such kind in the world, to boost output from green energy sources…

Aker BP Wins Approval for Gas Lift at Tambar

Norway's oil and gas watchdog has approved Aker BP's plans to modify facilities at the Tambar oilfield to support North Sea oil production it said on Thursday. The approved modification includes installation of a gas lift module to inject natural gas into wells to help to produce oil from the reservoir.

Eni's Arctic Goliat Field Remain Shuttered as Repairs Continue

Italian oil firm Eni's Arctic Goliat oilfield off Norway will remain shut for repairs for "some weeks", a company spokesman said on Friday. Norway's Petroleum Safety Authority, which regulates the industry, separately said it had demanded that Eni must make…

Norway Remains Among World's Top 10 Places to Discover Oil

© h368k742 / Adobe Stock

Norway remains among the top 10 places to find oil worlwide, with the Arctic region still having much potential despite recent disappointing exploration results, consultancy firm Wood Mackenzie said on Thursday. Earlier this week Norway's Statoil reported yet another dry well in the Barents sea…

Norway Looks to Shift from Oil

File Image (CREDIT: AdobeStock / (c) JJAVA)

Norway will study ways to make its economy greener and reduce dependence on oil and gas reserves that are likely to lose value amid efforts to slow climate change, Environment Minister Vidar Helgesen said on Thursday. A government commission of experts, to be appointed in coming days…

Innogy Issues $1 Bln Bond to Fund Wind Farms

© Terrance Emerson / Adobe Stock

Innogy, Germany's largest energy group, on Thursday issued a 850 million euros ($1.01 billion) corporate green bond to refinance wind power projects in Europe, it said. Proceeds of the bond, which has a 10-year maturity, will be used to refinance four offshore…

Norwegian Oil Spend to Shrink Further in 2017

Investment in Norway's oil and gas sector, a cornerstone of the country's economy, will continue to fall next year as weak crude prices curb oil firms' spending, a survey conducted by Statistics Norway (SSB) showed on Thursday. Norway's offshore sector generates…

Statoil Says Ireland's Corrib Gas Outage Extended

An outage in the output of Ireland's Corrib gas field has been extended by 24 hours to Oct. 7 at 0600 CET (0400 GMT), Norway's Statoil said in a statement on Thursday. The Corrib field's output will be reduced by 9.9 million cubic metres per day. Statoil did not say why the outage was extended.

Ireland's Corrib Gas Outage Extended to Oct. 5

An ongoing reduction in the output of Ireland's Corrib gas field has been extended by 24 hours to Oct. 5 at 0600 CET (0400 GMT), Norway's Statoil said in a statement. The Corrib field's output will still be reduced by 9.9 million cubic metres per day. Statoil did not say why the outage was extended.

Norway Approves Snefrid Nord Gas Development Near Aasta Hansteen

Photo of upending operation of the huge substructure for the Aasta Hansteen gas platform in Klosterfjorden near Haugesund.(Photo: Espen Rønnevik and Roar Lindefjeld/Statoil)

Norway has approved the Statoil-operated Snefrid Nord gas development near the Arctic Aasta Hansteen field in the Norwegian Sea, the oil and energy ministry said on Tuesday. The field is estimated to hold about 5 billion cubic metres of gas which will be produced…

Total, Eni, Statoil Seek to Shed Teesside Terminal Stakes

Total, Eni and Statoil are seeking buyers for their stake in the Teesside oil terminal in northern England, which receives crude from the Norwegian Ekofisk fields, part of the global Brent benchmark, banking sources said. The sale is run jointly by investment bank Rothschild and may fetch as much as $400 million…

Aker Solutions' Shares Surge, Recovery in Sight

Shares of Norwegian oil services company Aker Solutions surged on Friday on higher than expected quarterly earnings, a better outlook and a new contract, signalling the end of a three-year downturn in its markets. The company, controlled by Norwegian billionaire investor Kjell Inge Roekke…

MET International Plans to Boost LNG Trades

Switzerland-based MET International AG plans to boost its liquefied natural gas (LNG) trades in Europe by 50 to 100 percent next year, the company's chief executive said on Tuesday. Gyorgy Vargha said that while the company had traded one cargo, or 60,000 tonnes of LNG…

Eolus Vind to Build 330 MW Wind Power Farm in Norway

Norway's oil and energy ministry on Wednesday said it gave final approval to Sweden's Eolus Vind to build a 330-megawatt wind power plant in Oeyfjellet, northern Norway. The plant will be able to produce up to one terawatt-hour (TWh) per year, sufficient to meet the annual demand of 50…

Rex IH Gives Norway Drilling, License Updates

Måns Lidgren, Chief Executive Officer of Rex International Holding

Rex International Holding Limited, one of the largest companies listed on the Catalist of the Singapore Exchange Securities Trading Limited, shared its latest developments in its Norway portfolio, held through its 65 percent owned indirect subsidiary, Lime Petroleum Norway AS and investee company, North Energy ASA.

DNV GL Oil & Gas to Expand in Norway

Marianne Hauso

DNV GL is relocating its oil and gas head office in Norway from Høvik to Stavanger in order to be even closer to its customers, the company said. Local delivery capacity will be expanded in Stavanger and Bergen and operations will continue in Høvik, Sandefjord, Trondheim and Harstad.

Norway Finds Planned Gas Link to Poland Interesting

Norway finds interesting Poland's plans to build a pipeline that would allow the central and eastern Europe's biggest economy receive gas from the Norwegian shelf via Denmark and the Baltic Sea, Norway's foreign minister said on Friday. The plan to receive…

Lime Petroleum Takes Stake in Lundin Norway Well

The Gemini prospect in PL338C has been spudded using the semi-submersible Island Innovator (Photo courtesy of Lime Petroleum Norway)

Rex International Holding Limited’s jointly-controlled entity, Lime Petroleum Norway AS has signed an agreement with Lundin Petroleum Norway AS to acquire a 30 percent stake in license PL338C in the Norway’s North Sea, pending regulatory approval. The North…

Integrated Drilling Service Agreement to Schlumberger

Schlumberger Norway has been awarded a contract with Statoil to provide integrated drilling services for the Norwegian continental shelf licenses Gullfaks, Gullfaks Satellites, Snorre, Statfjord , Tordis/Vigdis, Visund. The agreement also covers exploration drilling on the Norwegian continental shelf (NCS).

Norway Planning to End Renewable Subsidy Scheme by 2021

Norway is planning to end its green energy subsidy scheme by 2021 and aims to increase competition in building power lines to other countries, the government said on Friday. Norway launched a common renewable energy support scheme with Sweden in 2012, so called "el-certificates"…