Wednesday, December 13, 2017

Statoil News

Statoil Shutters Troll A Output After Power Outage

File Image: one of Statoil's Troll installations located in the North Sea. (CREDIT: Statoil)

Norway's Statoil has shut down production at its Troll A gas platform in the North Sea following a power outage, the company said on Tuesday. "The production has been closed down due to the power outage and at the same time a gas alarm was detected," Statoil spokesman Morten Eek said. It is still not clear when production can restart.

SBM Offshore Wins Johan Castberg Turret Mooring System Contract

SBM Offshore said it was awarded the contract and received the corresponding notice from Statoil to proceed with the engineering, procurement, construction (EPC) work scope for a large-scale turret mooring system for its Johan Castberg development. The contract award results from delivery…

Statoil Works to Restart Troll A Gas Platform

File Image: one of Statoil's Troll installations located in the North Sea. (CREDIT: Statoil)

Norway's Statoil is working on start-up procedures to restore gas production from its Troll A platform in the North Sea, which was shut on Tuesday following a power outage and a related gas leak, the firm said on Wednesday. Tuesday's Troll A closure landed another blow to Britain's gas supplies that…

Statoil to Drill 5-6 Wells in Arctic Barents Sea in 2018

© Ivan Kurmyshov / Adobe Stock

Norway's Statoil will continue to drill for oil in the Arctic Barents Sea next year even though its 2017 campaign was mostly disappointing, the company's head of exploration told Reuters on Tuesday. Statoil plans to drill between 25 and 30 wells in Norwegian waters in 2018, of which five…

Norway Gives Approval to Restart Arctic Goliat oilfield

File Image: an offshore Norway oil iunstallation. CREDIT: Statoil)

Italian oil firm Eni has received permission to restart production at its Goliat oilfield in the Arctic Barents Sea following a shutdown lasting more than two months, Norway's Petroleum Safety Authority (PSA) said on Friday. The PSA ordered the company to shut the 100,000 barrels-per-day field on Oct.

Total Sells Two Norwegian Oilfields to Statoil

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

Statoil will become operator of both fields. French oil and gas major Total said on Monday it had agreed to sell its stakes in two Norwegian oilfields to Statoil for $1.45 billion as it reviews its North Sea portfolio after acquiring Denmark's Maersk Oil in August. The company said Statoil…

Norway: Future Castberg Revenues to Reach $16.6 bln

File Image: A Johan Castberg floating production vessel. CREDIT Statoil

The potential future revenues to the Norwegian state from the Johan Castberg oilfield is estimated at 138 billion Norwegian crowns ($16.59 billion), Minister of Petroleum and Energy Terje Soeviknes said in a statement.   Statoil on Tuesday presented a $5.9 billion plan to develop the field.   Reporting by Terje Solsvik 

Statoil Confident Eni Will Resolve Problems at Goliat Field

Photo: Statoil

Norway's Statoil said on Tuesday it was confident Eni would resolve problems besetting their joint Arctic Goliat oilfield, as a shutdown there neared its second month. The 100,000 barrels-per-day field - operated by Eni, the senior partner in the licence - has been shut since Norway's Petroleum Safety Authority (PSA) ordered its closure in early October…

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, meaning more work for owners of drilling rigs…

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 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: 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, 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 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: 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.

OneSubsea's Production System for Statoil's Utgard Field

OneSubsea Global Contacts Photo OneSubsea

OneSubsea, a Schlumberger company, today announced it has been awarded an engineering, procurement and construction contract by Statoil to supply the subsea production system for the Utgard gas and condensate discovery in the North Sea. The scope of the contract includes a subsea template manifold system…

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…

Statoil’s President & CEO Helge Lund Resigns

Helge Lund assumed the role as President and CEO of Statoil on 16 August 2004.

Statoil President and CEO Helge Lund has informed the company's board of directors that he will resign. Helge Lund has chosen to leave Statoil to take up the position as CEO of another international oil and gas company. The board of directors has appointed Eldar Sætre as acting president and CEO of Statoil with immediate effect.