Tuesday, April 24, 2018

Statoil News

Statoil Buys U.S. GoM Deepwater Discovery

File Image: A typical Statoil offshore installation. CREDIT: Statoil

Statoil and Total have completed their acquisition of Cobalt international Energy's 60 pct operated interest in North Platte discovery in US Gulf of Mexico for an aggregate purchase price of USD 339 million. The partners had jointly presented the winning bid for the asset in a bankruptcy auction of some of Cobalt’s assets that was held on 6 March 2018.

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 is focused mostly on future deepwater opportunities in Mexico but does not rule out others…

Life Extension for FSO Njord Bravo

 Conract to Aibel for upgrading of the Njord Bravo floating storage and offloading (FSO) vessel Photo courtesy Statoil

Statoil, on behalf of the Njord license, awarded a NOK 1.3 billion ($168 million) contract to Aibel to upgrade the Njord Bravo floating storage and offloading (FSO) vessel in the Norwegian Sea.The FSO will be prepared for extended operation of the Njord and Hyme fields, as well as tie-in of two new field developments in the Norwegian Sea…

Statoil Awards $1.5 Bln Drilling Contracts

View from the Gullfaks C platform in the North Sea. (Photo Harald Pettersen)

Statoil has awarded drilling contracts to Archer, KCA Deutag and Odfjell Drilling for drilling, completion, intervention services, plugging, maintenance and modifications on 18 of Statoil’s fixed platforms. The contracts take effect from October 1, 2018, initially for a period of four years.

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 continental shelf were part of…

Statoil Bags Four Blocks Offshore Brazil

Tim Dodson, executive vice president for Exploration in Statoil. Photo courtesy Statoil

Statoil and partners were the high bidders for four blocks in the Campos basin in Brazil’s 15th licensing round held on 29 March. With the new licenses, Statoil strengthens its position in Brazil and increases synergies with current projects. A consortium comprising Petrobras (30%), ExxonMobil (40%) and Statoil (30%)…

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 all possibilities and find a profitable solution both for the companies and the society…

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.

Total Snaps up GoM Assets

French oil major Total said it had bought several assets in the Gulf of Mexico for around $300 million, as part of the Cobalt International Energy company’s bankruptcy auction sale. Total said it was buying a 20 percent stake in the North Platte asset. Following this move, Total will have a 60 percent overall stake in North Platte…

Statoil’s Investigates into Helicopter Accident

Eldar Sætre Photo Statoil

The mandate for Statoil’s in-house investigation of the helicopter accident on 29 April is ready. The purpose of the investigation is to identify measures to improve Statoil’s work on helicopter safety on the Norwegian continental shelf. The Accident Investigation Board Norway is responsible for identifying the chain of events and the cause of the accident.

Statoil Adjusts Portfolio in Angola

Tove Stuhr Sjøblom, Statoil sub-Saharan Africa senior vice president. (Photo: Ole Jørgen Bratland)

Statoil is divesting its 5% participating interest in the ENI-operated block 15/06 offshore Angola to the concessionaire Sonangol E.P. The transaction, subject to customary closing conditions, includes a consideration of $200 million and an effective date of January 1, 2013. “This transaction…

Statoil Inks LOI for Johan Sverdrup Phase 2

Statoil signs letters of intent for Johan Sverdrup phase 2 with Aibel and Aker Solutions-Kværner joint venture Image Statoil

Statoil, on behalf of the Johan Sverdrup partnership, signed a letter of intent with Aibel for the construction of the processing platform topside for phase 2 of the project. A letter of intent for field center modifications is also issued to a joint venture of Aker Solutions and Kværner. Total value is estimated at more than NOK 11 billion ($1.4 billion).

Statoil: New Offshore Indonesia License Awarded

Statoil depiction of Indonesian offshore acreage

Statoil was today awarded new exploration acreage through the Aru Trough I licence offshore Indonesia. The licence covers an area of approximately 8,300 square kilometres, adjacent to Statoil’s existing exploration acreage in the Aru and West Papua IV licences. Statoil will operate the licence with a 100% working interest.

Statoil Wins licence Bids in Offshore Canada

Statoil owns interests in several exploration, development and production licenses offshore Newfoundland, and has an office in St. John’s courtesy Statoil

Statoil and its partners were the successful bidders for six exploration licences in the Flemish Pass Basin, offshore Newfoundland, and two licences offshore Nova Scotia. The licences offshore Newfoundland total 1,466,918 hectares (14,670 km2), and are located in an area in proximity to the Statoil-operated Bay du Nord discovery.

Statoil Farms Down in Angolan Pre-salt

Image: Statoil

Statoil has signed an agreement to farm down a 15% interest to WRG Angola Block 39 Limited in the Statoil-operated block 39 offshore Angola in the Kwanza pre-salt basin. WRG is a 50/50 joint venture comprising White Rose Energy Ventures and Genel Energy plc. “This is part of Statoil's active portfolio management.

Statoil, Repsol Transactions in Priority Areas

Transactions increase the number of Statoil’s operatorships in priority areas Courtesy Statoil

Statoil and Repsol announce transactions in Norway, UK, US and Brazil. These transactions increase the number of Statoil’s operatorships in priority areas, providing greater control of asset development and costs through shared efficiencies. * Statoil farms down to Repsol a 15% interest in the Gudrun field on the Norwegian Continental Shelf.

Statoil: Reduced Ownership in Agbami Field

Statoil has been in Nigeria since 1992 and we have an interest in the largest deepwater producing field, Agbami

Statoil has received an Expert calculation of revised tract participations for the Agbami field in Nigeria. Assuming implementation, this calculation will result in a reduction of 5.17% in Statoil’s equity interest in the field from 20.21% to 15.04%. Statoil previously initiated arbitration proceedings to set aside interim decisions made by the Expert.

Odfjell Drilling to Expand Fleet

(Photo: Odfjell Drilling)

Offshore rig firm Odfjell Drilling plans to expand its floating rig fleet to between six and 10 from four now, it said on Friday, the latest sign of recovery in the energy industry.After cuts in exploration spending following an oil price plunge that began in 2014, energy firms are now hiring…

Statoil launches $ 200m Energy Investment Fund

Potential investment themes include offshore and onshore wind.(Photo Helge Hansen)

Statoil today launches a new venture capital fund dedicated to investing in attractive and ambitious growth companies in renewable energy, supporting its strategy of growth in new energy solutions. The new fund, Statoil Energy Ventures, will invest up to USD 200 million (around NOK 1.7 billion) over a period of four to seven years.

Statoil's Annual, Sustainability Reports for 2014

CEO Eldar Saetre

Statoil presents the annual and sustainability reports for 2014 today, together with the new payments to governments report. “In 2014 we continued to deliver solid operational results. Our production efficiency improved significantly, we are on track with our improvement programmes and we continued to deliver good safety results.However…