Sunday, March 24, 2019

Norway News

The Decommissioning, Marine Life Connection

A common ling, Molva molva, swims amongst an almost coral reef-like habitat created by oil and gas infrastructure. Image from Insite.

Data sharing and better understanding of how marine life interacts with manmade structures is the target for the next phase of the Insite program.What to do with offshore structures is a sticky problem for oil companies, regulators and policy makers alike,…

Norway Oil Exploration Refunds Are Not State Aid -ESA

© Lotharingia / Adobe Stock

Norway's regulations allowing oil and gas companies to claim refunds for exploration spending do not constitute state aid, the European Free Trade Association Surveillance Authority (ESA) said on Wednesday."Having scrutinized it on the basis of a comprehensive complaint…

Norway to Offer More Arctic Exploration Blocks

© AValeri Belov / Adobe Stock

Norway plans to expand the offshore oil and gas acreage offered to companies under its annual licensing round in so-called predefined areas (APA), oil minister Kjell-Boerge Freiberg said on Thursday.The 2019 APA round will offer 90 new blocks, of which 48 are in the Arctic Barents Sea…

Equinor Extends Oceaneering Contract

Image: Oceaneering

Houston-based subsea engineering company Oceaneering International has secured a contract renewal from Equinor, the Norwegian multinational energy company, covering the provision of maintenance, reliability and integrity management.The oilfield provider of engineered services and products…

US to Lead Oil Supply Growth to 2024

Dr Fatih Birol (center) and IEA Oil Analyst Toril Bosoni (right) present the findings from Oil 2019 in Houston at CERA Week on 11 March 2019 (Photograph: Getty Images)

The United States is set to drive the global oil supply growth over the next 5 years, thanks to the strength of its shale industry, triggering a rapid transformation of world oil markets, according to the International Energy Agency (IEA).IEA said that oil…

Norway Fund to Sell E&P Firms

© Inge / Adobe Stock

Norway's trillion-dollar sovereign wealth fund, the world's biggest, will sell its stakes in oil and gas explorers and producers but still invest in energy firms that have refineries and other downstream activities, according to a government plan.The proposal…

Norway Production Costs Rising

(Photo: Equinor)

Petroleum production costs on the Norwegian continental shelf rose in 2018 after falling for three consecutive years, state-owned oil firm Petoro said on Thursday.Cost cuts were high on oil firms' agenda following a sharp fall in crude prices in 2014, making…

U.S. LNG Exports Soar, Europe a Big Buyer

File image: LNG tanker transiting the Med (Credit: Robert Murphy)

U.S. LNG to Europe may squeeze out smaller gas suppliers.Shipments of U.S. liquefied natural gas (LNG) have gathered pace in March and Europe is set to stay a top destination for spot cargoes with Asian prices still too low to ship the chilled fuel that far.But winter demand for gas is fading…

BW Offshore Cleared to Buy Brazil Oilfield

© brasilplural / Adobe Stock

Norway's BW Offshore has won approval from Brazil's antitrust watchdog Cade to buy the Maromba oilfield from Petrobras and Chevron, according to a statement in the official gazette on Wednesday.Petrobras has a 70 percent stake in the field, while Chevron has a 30 percent stake."The transaction represents an opportunity

BW Offshore Approved to Buy Brazil Oilfield from Petrobras, Chevron

Norway's BW Offshore has won approval from Brazil's antitrust watchdog Cade to buy the Maromba oilfield from Petrobras and Chevron , according to a statement in the official gazette on Wednesday.Petrobras has a 70 percent stake in the field, while Chevron has…

Oman: Gas Production to Surpass Oil by 2023

Graph: Rystad Energy

Oman’s gas production levels are set to surpass oil by 2023 thanks to an impressive surge in the development of gas fields in the sultanate, according to Rystad Energy, the independent energy research and consulting firm headquartered in Norway.“Gas is on the…

LNG Only Fills Niches in Europe

Pic: Wintershall Holding GmbH

Although LNG (Liquid Natural Gas) provides a solid supplement to European gas supplies, the EU is and will remain a pipeline market – for good reasons, said Wintershall's new position paper.The report from Germany's largest crude oil and natural gas producer…

Partners Eye Conoco's North Sea Assets

(Photo: ConocoPhillips)

Italy's Eni has teamed up with private equity firm HitecVision to bid against Chrysaor for ConocoPhillips' North Sea oil and gas assets, sources close to the process said.Conoco relaunched the sale process in recent weeks after energy and chemicals firm Ineos…

DNV GL Opens New Houston Facility

David Norfleet, Head of Section, Incident Investigation, DNV GL – Oil & Gas (Photo: DNV GL)

DNV GL announced Thursday that it has opened a new facility in Houston to provide failure analyses that support the industry in conducting effective and efficient root cause analyses.The facility will carry out the initial steps of a failure investigation, which could include visual inspection…

Shell to Boost Ormen Lange Field Output

File Image: an offshore Equinor installation (CREDIT: Equinor)

Royal Dutch Shell aims to boost output and recoverable reserves from its Ormen Lange gas field off Norway by installing subsea compressors, the head of its Norwegian operations said on Wednesday.Output from Shell-operated Ormen Lange, Norway's second-largest…

Moog Focal Products for APL Norway AS

Stacked Focal swivels with the LVEOS on top (Photo: MacArtney)

A Floating Storage and Offloading project in the Norwegian Sea is to benefit from high-end products for data and process control from MacArtney & Moog Focal.MacArtney has secured a contract from APL Norway AS, a Norwegian Mooring and Loading Systems provider - part of NOV Completion & Production Solutions.

Equinor Sells Natural Gas Worth USD26bln in 2018

Tor Martin Anfinnsen (left), Equinor’s senior vice president for marketing and trading. Irene Rummelhoff (right), Equinor’s executive vice president for marketing, midstream and processing. Photos: Harald Pettersen (left) and Ole Jørgen Bratland,  Equinor.

Norwegian energy company Equinor has announced its 2018 sales of natural gas totalled $26bn, an increase of 29% from 2017.Equinor sold a total of 100 billion cubic metres (bcm) of gas worldwide in 2018. The company is the second-largest gas supplier to Europe…

Natural Gas Contributes to Low Carbon Future

Photo from the LNG facility in Hammerfest. (Photo: Einar Aslaksen - TRY / Equinor ASA)

Equinor sold natural gas for around $26 billion in total in 2018, an increase of 29 percent from 2017. As more countries prepare for the energy transition, Equinor sees strong market opportunities for gas and expects global demand to grow by around 10% towards…

Norway Oil Firms Lower 2019 CapEx Forecast

A typical offshore Equinor operation. CREDIT: Equinor

Oil and gas companies operating in Norway have lowered their investment forecasts for 2019 to 172.7 billion crowns ($20.06 billion) from 175.3 billion crowns seen in November, a survey by the country's statistics agency (SSB) showed on Thursday.In 2020, investments…

Neptune Energy to Present Plan for Norway Fields

Operator Neptune Energy will on Thursday present investment plans for two Norwegian oil and gas fields, the country's energy ministry said in a statement on Wednesday.The plan for Duva (previously known as Cara) and Gjoea P1 amount to almost 10 billion crowns ($1.16 billion), with an aim of producing a combined 120 mil