Monday, November 20, 2017

Norway News

Statoil to Step Up Offshore Norway Exploration

File Image: an offshore Statoil Installation (CREDIT: Statoil)

Norway's Statoil will ramp up its search for oil and gas deposits on the Norwegian continental shelf next year, the company said on Friday. Oil companies are stepping up efforts to find more oil and gas offshore after cutting exploration budgets following the oil price drop since 2014…

Norway's Arctic Oil Plan Violates Constitution, Lawsuit Says

© h368k742 / Adobe Stock

Norway's plan for Arctic oil exploration is unconstitutional because it violates the right to a healthy environment, a lawyer for Greenpeace and the Nature and Youth environmental group told an Oslo court on Tuesday. The case is the first of its kind in Norway…

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…

Statoil to Pay a $4 Mln Fine Over Swaps Manipulation

Statoil ASA will pay $4 million to settle U.S. charges that the energy company tried to manipulate a key propane benchmark in order to benefit its NYMEX-cleared swaps position, the Commodity Futures Trading Commission (CFTC) said on Tuesday. In a statement, the U.S.

Norway Expects 5-10 New Oil, Gas Field Development Plans in 2018

Oil firms will probably file between five and ten applications to develop new oil and gas fields off Norway in 2018 compared with around ten expected this year, the country's oil minister said on Wednesday. "It'll be somewhat fewer than in the current year but more than last year…

Eni Could Restart Arctic Goliat Oilfield 'Within Weeks'

(Photo: Eni)

Italy's Eni could restart the Goliat oilfield in the Barents Sea "within weeks" after completing an inspection and repairs, an Eni spokesman said on Monday. Norway's Petroleum Safety Authority on Oct. 6 ordered a production halt at the 100,000 barrel per day oilfield…

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…

Skangas, Titan LNG Sign MoU

Photo: Skangas

Skangas of Norway and Titan LNG based in The Netherlands have signed a Memorandum of Understanding (MoU). The two companies will cooperate on serving marine Liquefied Natural Gas (LNG) customers. For ship operators this agreement will contribute to the overall…

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.

Aker BP buys Hess' Norway unit for $2 bln

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

Output from Hess Norway field stakes 24,000 boepd. Aker BP will add the Norwegian operations of U.S. oil company Hess to its expanding exploration and production portfolio under a $2 billion deal announced on Tuesday. Under billionaire investor Kjell Inge Roekke…

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…

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).

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…

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"…

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: Gas Output Could Increase During Crisis

Norway could increase exports to the European Union slightly during winter in the event of any supply crisis caused by the dispute between Ukraine and Russia, but there is little capacity to spare, Norway's energy minister said on Thursday. "The capacity on…

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…

Norway Wants Oil & Gas Licensing Round before Christmas

Norway hopes to launch its 23rd oil and gas licensing round before Christmas, though that timeline is still subject to change, Bente Nyland, the head of the Norwegian Petroleum Directorate said on Wednesday. Norway earlier said it plans to award oil and gas licenses in new offshore areas…