Tuesday, April 24, 2018

Norway News

Goliat Field Output Resumed After Fire

Goliat FPSO (© Eni Norge)

Oil firm Eni said output from Norway's Goliat field has resumed after being shut since Friday morning following a small fire. The platform has a capacity to produce almost 100,000 barrels per day (bpd) of oil. "Production resumed Sunday morning," a Eni spokeswoman told Reuters.

Borr Drilling Cuts Jobs in Texas

Photo: Borr Drilling

Offshore rig operator Borr Drilling cut 66 jobs in Texas at the end of March, according to a state regulatory notice, as the company prepared to close on its purchase of Paragon Offshore.The filing with the Texas Workforce Commission did not provide a reason…

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.

Fire in Sauna Shuts World's Northernmost Oilfield

Goliat FPSO (© Eni Norge)

The world's northernmost oilfield was shut on Friday when a fire broke out in a sauna in the oil platform's living quarters, Eni, the Italian oil company that operates the field, said. The Arctic Goliat field is in the Barents Sea about 88 kilometers off the coast of Norway and inside the Arctic Circle.

Norway Parliament Votes to Cut Coal Investments

Norway's parliament voted on Friday to reduce coal investments by its $880 billion sovereign wealth fund, the world's biggest, in a decision hailed by environmentalists as a model to help slow climate change. Under the unanimous deal, the fund will sell all…

Arctic Norway Terminal Plans Revived

File Image of the Johan Sverdrup installation (CREDIT: Statoil)

Oil firms operating two oilfields and several oil discoveries in the Barents Sea off Norway are looking at a possibility to build an onshore oil terminal, Norway's oil minister said on Tuesday. "I'm optimistic. I think it's important that operators investigate…

Norway Labour Unions Threaten Strike by 35,000 Workers

Image: Credit Aker Solutions

Almost 35,000 private-sector workers organised by Norway's largest labour unions plan to go on strike from April 8 unless a deal is found over wages, pensions and other compensation, the unions said on Tuesday. The first wave of a strike would hit large parts of Norway's metals production by leaving smelters idle…

Norway's Arctic a Bright Prospect in Crisis-hit Oil Sector

While the oil industry continues to cut jobs, projects and costs amid low crude prices, one region is making a surprise comeback after years of declining activity, company executives and officials say: the Norwegian Arctic. The search for oil and gas in mature…

Statoil Awards $1.5 bln Drilling Contracts, Favours Archer

File Image: The Johan Sverdrup offshore installation (CREDIT: Statoil)

Statoil has awarded 12 billion Norwegian crowns ($1.53 billion) worth of new platform drilling contracts to Archer, KCA Deutag and Odfjell Drilling , the Norwegian oil company said on Friday. The new four-year contracts covering 18 fixed platforms on Norway's…

Statoil Eyes Future Projects with Pemex

Norway's Statoil will evaluate new offshore projects in Mexico, including potential tie-ups with state oil company Pemex, the firm's top executive said, adding that a first deepwater well in an existing Gulf project will likely be drilled next year. Statoil…

Yaskawa Ups Investment in The Switch

The Switch has delivered over 1,000 rugged Power Drives for the past 10 years to hundreds of vessels operating around the world (Photo: The Switch)

Yaskawa Corporation is making a multimillion-euro investment to strengthen the R&D capabilities of The Switch and purchase new equipment at the company’s factory in Lappeenranta, Finland.The investment will enable drive train testing of up to 15 MW. The Switch…

Norway's DOF: OSV Market Improving

An offshore OSV underway (CREDIT: BSM)

The cost of renting offshore supply vessels (OSVs), servicing oil and gas firms, will continue to rise as many ships that were mothballed up during the downturn will not return to the market, the chief executive of Norway's DOF said on Wednesday. A number of…

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…

Newbuild Kreuz Challenger Mobilized for Brunei Shell Contract

Photo: Kreuz Subsea

Subsea services company Kreuz Subsea has mobilized the recently delivered newbuild dive support vessel, Kreuz Challenger, as part of its seven-year contract with Brunei Shell Petroleum Company Sdn. Bhd. (BSP).The contract, which runs until 2022, includes supporting BSP with inspection…

Oil Firms Must Pay More for Service Vessels -Norway Ship Owners

Harald Solberg  (Photo: NSA)

Oil companies should be prepared to pay higher rates for renting offshore service vessels, in order to secure the long-term survival of a key part of the industry's supply chain, the Norwegian Shipowners' Association said on Thursday. Energy firms sharply curtailed investments in the wake of the 2014 oil price crash…

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…

Norway Approves Construction of 80 MW Wind Farm

Norway has approved an application to construct a new wind farm with the capacity to produce 80 megawatts (MW) of electricity on the coast of western Norway, the oil and energy ministry said on Tuesday. The application, which was initially rejected in December 2015 on environmental concerns…

Norway's Gas Plant Suffers Unexpected Outage

File photo of Nyhamna natural gas processing plant

Norway's Nyhamna natural gas processing plant, which supplies Britain through a pipeline under the North Sea, suffered an unexpected outage on Saturday due to power loss, its operator told the Nordic Power bourse. The plant, which supplies about a fifth of…

Norway's Kollsnes Gas Output Reduced due Repairs

Natural gas output from Norway's natural gas processing plant Kollsens will be reduced by 16.5 million cubic metres per day on Monday and Tuesday due to corrective maintenance, gas system operator Gassco said on Saturday. The 143 mcm/day capacity plant on Norway's…

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…