Saturday, January 19, 2019

Norway News

Schlumberger to Manage Equinor Project in Brazil

(Photo: Equinor)

Schlumberger signed a contract worth over $200 million with oil major Equinor to manage an offshore rig as part of a drilling program in Brazil's offshore Campos oil basin, a person familiar with the matter said on Thursday.The deal would be the first time an oil services company replaces a drilling-rig contractor…

Norway Awards 15 Exploration Licences to Lundin Petroleum

Map: Lundin Petroleum AB

Europe’s independent oil and gas exploration and production company Lundin Petroleum announced that its wholly owned subsidiary Lundin Norway has been awarded a total of 15 exploration licence interests in the 2018 Norwegian licensing round (Awards in Predefined Areas…

Ivar Aasen Now Operated from Land

Ivar Aasen platform (Photo: Aker BP)

Aker BP on Wednesday said it has begun operating the permanently manned North Sea platform Ivar Aasen from an onshore control room in Trondheim, Norway.The Ivar Aasen platform was constructed with two identical control rooms – one on the platform and the other…

Aker BP Plans Output, Dividend Hike

Valhall field (Photo: Kjetil Alsvik / Aker BP)

Norway's Aker BP will boost dividend payments between now and 2023 and step up investment in developing offshore oil and gas fields next year, the independent oil company said on Thursday.The result of a 2016 merger between the Norwegian operations of BP and…

Oil Majors Join Blockchain Platform

© spainter_vfx / Adobe Stock

Oil majors Chevron and Total, along with major Indian refiner Reliance Industries, have joined the blockchain-based platform Vakt, London-based Vakt said on Tuesday.Vakt, already in use by other major trading firms since the end of last year, is the first of…

Equinor Makes Gas and Condensate Discovery off Norway

The West Phoenix drilling rig. (Photo: Seadrill)

Norwegian oil company Equinor announced Wednesday it has proven gas and condensate in the 6406/2-9 S exploration well at Ragnfrid North around 20 kilometers south of the Kristin platform in the Norwegian Sea. Recoverable resources are estimated at 6-25 million…

Aker BP Bags 21 in Norwegian Licensing Round

Image: Aker BP

The oil exploration and development company focusing petroleum resources on the Norwegian Continental Shelf Aker BP has been offered interests in 21 new production licenses in Norway, of which 11 as operator, through the Awards in pre-defined areas (APA 2018)…

Equinor Grabs 29 New Licenses on Norwegian Continental Shelf

Image: Equinor

Norwegian energy major Equinor has been awarded 29 new licences by Norway’s Ministry of Petroleum and Energy as part of the Award in Predefined Areas (APA) for 2018 – 13 licences as operator and 16 as partner.Norway's government says it awarded a record 83…

Norway Supreme Court Hears Snow Crab Case with Implication for Oil

© Andrey Cherlat / Adobe Stock

Norway's Supreme Court began hearing arguments on Tuesday on whether EU ships can fish for snow crab off Arctic islands north of Norway without permission from Oslo, a case that could decide who has the right to explore for oil in the region.At stake is whether…

Norway Awards Record Number of Exploration Blocks

© h368k742 / Adobe Stock

Norway awarded a record 83 blocks to explore for petroleum resources in mature areas of the Norwegian continental shelf, in a sign of continuing interest from oil companies in the country's oil sector, the energy ministry said on Tuesday.A lack of large discoveries…

Wellit Partners with Norvestor

© Danial / Adobe Stock

The owners of software company Wellit have decided to sell 60 percent of company shares to private equity company Norvestor.Wellit develops logistics solutions for the global oil and gas industry. Its software, WELS, is a cloud-based multi-tenant platform tailored…

Norway Cuts 2019 Oil Output Forecast

Image: Ministry of Petroleum and Energy

The Norwegian Petroleum Directorate (NPD)’s forecasts show that Norway's oil output in 2019 will be smaller than previously forecast and its lowest level in three decades, although it should rebound in the following years."After a minor decline in 2019, oil and gas production will increase from 2020 and up to 2023.

Norway Ready to Claim Share of Russia's Arctic Finds

© Ivan Kurmyshov / Adobe Stock

Norway will step up preparations to claim its share of oil and gas resources if Russia finds petroleum on its side of a border in the Barents Sea, the head of Norwegian Petroleum Directorate (NPD) said on Thursday.Norway and Russia in 2010 agreed a maritime border in the Barents Sea…

Norway 2019 Oil Output Forecast Cut to 30-year Low

(Photo: Jan Arne Wold / Woldcam)

Norway's oil output in 2019 will be smaller than previously forecast and its lowest level in three decades, although it should rebound in the following years, the country's oil industry regulator said on Thursday.Investment in Western Europe's largest oil producer and Europe's second-largest gas producer…

Exploration Firms Drill Dry Well in North Sea

Image: Lundin Petroleum

Lundin Petroleum AB (Lundin Petroleum) announces that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has completed exploration well 2/6-6S, targeting the Oppdal and Driva prospects in PL860 in the North Sea. Both targets were dry. The well was…

PGNiG's LNG Imports Rises in 2018

Graphics: PGNiG

Polish energy firm PGNiG said that the share of gas imports from Russia in total import volume fell last year to less than 67%. The share of LNG imports, however, increased to over 20%.In 2018, PGNiG imported over 0.62 bcm less natural gas from Russia than in 2017 (down 6.4%). Imports from the East amounted to approx.

World's First Floating Wind Turbine Gets New Life

Image: Unitech Offshore

The world's first industrial-scale floating wind prototype, Hywind 1, installed in 2009 off the west coast of Norway, will be reborn as an infrastructure for research and technology projects in Metcentre at Karmøy.Unitech Offshore, which manufactures and distributes subsea connector assemblies…

Spirit Energy Gets Nod for Oda Development

Image: Spirit Energy

North Sea explorer Spirit Energy has been given the green light from Norwegian Petroleum Directorate (NPD) to start up its first operated development in Norway.Oda is a subsea development where the wellstream is sent on to the Ula platform for processing and…

Norway Oil Investment to Rise in 2019

(Photo: Equinor)

Oil and gas investment in Norway is expected to grow for a second year in a row in 2019 but will fall back between 2020 and 2023, an industry lobby group said on Monday.Western Europe's largest oil producer has seen a recovery in oil industry activity thanks to higher crude prices…

Topaz Bags Wind Charter

Image: Topaz Energy and Marine

Dubai-based Marine logistics company Topaz Energy and Marine (Topaz) has signed an agreement with a north European contractor for the charter of Topaz's newbuild for offshore wind farms in the North Sea.The contractor will charter Topaz’s newbuild subsea vessel…