Statoil to Step Up Offshore Norway Exploration
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 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. regulatory agency said…
LOI for Johan Castberg Hull Construction is Signed
Statoil is signing a letter of intent with Sembcorp Marine Rigs & Floaters Pte. Ltd in Singapore for the construction of the hull and integrated living quarters for the floating production, storage and offloading (FPSO) vessel that will be located on the Johan Castberg field in the Barents Sea.
Emerson, Statoil Ink Collaboration Agreement
Emerson has signed a collaboration agreement with Norwegian operator Statoil to further develop its Roxar RMS reservoir characterization and modeling software. The announcement is the latest in a series of partnerships between Emerson and Statoil that has spanned many years and includes high…
Statoil Aims to Sign Power Purchase Agreement in NY in 2018
Norway's Statoil aims to sign a power purchase agreement with a U.S. utility to develop an offshore wind power project off New York, a senior company official said on Tuesday. Statoil won a lease sale of 79,350 acres offshore New York, which could be potentially used to develop up to a 1 gigawatt (GW) capacity wind power park…
Statoil’s Investigates into Helicopter Accident
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
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 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 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
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
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 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, 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
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
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
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.
Statoil buys Petrobras stake in Brazil oil find
Statoil aims to offset declining output from mature fields. Norway's Statoil agreed on Friday to buy Petrobras' stake in an exploration licence off Brazil for $2.5 billion, a rare deal in an oil industry struggling with low prices. The purchase of the 66 percent stake from Brazil's state…
Statoil Sells Oil Sands Business
Statoil has signed an agreement to divest its 100% owned Kai Kos Dehseh (KKD) oil sands projects in the Canadian province of Alberta to Athabasca Oil Corporation (TSX: ATH). The transaction covers the producing Leismer demonstration plant and the undeveloped Corner project, along with a number of midstream contracts associated with Leismer’s production.
Statoil Acquires Minority Stakes in Lundin Petroleum
Statoil ASA has acquired 37,101, 561 shares in Lundin Petroleum AB (publ.), corresponding to 11.93 percent of the shares and votes, at a total purchase price of approximately SEK 4.6 billion. The investment in Lundin Petroleum will increase Statoil’s indirect exposure to core assets on the Norwegian Continental Shelf (“NCS”).
Statoil Reducing Stake in U.S. Shale Formation
Statoil reduces stake in U.S. shale formation; deal could help Statoil maintain dividend. Statoil has sold part of its stake in a shale field in the northeast of the United States to Southwestern Energy for $394 million, the Norwegian energy firm said on Tuesday. Like its rivals, Statoil…