Fossil Energy
With South Stream dropped, Russia turns to Turkey
After Russia’s president Vladimir Putin announced yesterday that Russia would drop the South Stream project due to the strained relations with the European Union, he said that Russia would turn to other markets. The statement came during Putin’s visit in Turkey, where he said that Russia would build
Putin on South Stream: Europe doesn’t want it, we won’t build it
Russia’s president Vladimir Putin has said that Russia will not proceed with the construction of the 931 kilometers long South Stream pipeline in the Black Sea. The pipeline would connect Russian natural gas reserves with consumers in the European Union. During his visit to Turkey, Putin said: “… ta
Lundin gets nod to drill North Sea wildcat
The Norwegian Petroleum Directorate (NPD) has granted Lundin Norway AS a drilling permit for well 26/10-1, in the North Sea. Well 26/10-1 will be drilled from the Island Innovator semi-submersible drilling rig in the central part of the North Sea. The drilling programme for well 26/10-1 relates to d
Gassco to pipeline gas from Knarr
Gassco has received consent from the Petroleum Safety Authority (PSA) Norway to use a pipeline for gas transport from Knarr field, in the North Sea. The Knarr field is located in block 34/3 in the Tampen area in the northern North Sea. The field, operated by BG Norge AS, has been developed using sub
EMGS: Statoil expands EM data library
Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement with Statoil ASA for the provision of 3D EM data. According to the company, the data will be provided from EMGS’ multi-client data library in Norway. The contract is worth $10 million. After adjustment for partner’s s
SeaBird to survey Mediterranean
SeaBird Exploration has received a Letter of Award (LOA) to acquire up to 6,000 km of 2D seismic data in the Mediterranean area. SeaBird did not disclose the name of the client, nor the exact location of the survey. According to the company’s press release, the LOA is conditional upon permits and is
Centrica finds gas at Ivory prospect
Centrica has made a natural gas discovery at the Ivory well, in the Production Licence 538 B, offshore Norway. Atlantic Petroleum, a partner in the licence, has said that the 6707/10-3S well tested the westernmost segment of the Ivory structure, one of several prospects within the license. The prima
Caterpillar Marine’s MaK to power four Maersk newbuilds
Caterpillar Marine’s MaK™ diesel electric propulsion (DEP) solutions have been selected to power four Maersk Supply Services’ (MSS) newbuilds to be constructed by COSCO (Dalian) Shipyards. Each vessel will be equipped with 4x MaK M 32 E generator sets with a power output of 4,400 kW each and 2x MaK
Statoil needs more time to decide on Snorre C
Statoil has, with its partners in the Snorre offshore field, decided to adjust the schedule for the ongoing Snorre 2040 project by postponing the planned date for the second decision gate (DG2) from March 2015 to October 2015. Statoil said that there is no change in the timing of the final investmen
VIDEO: ‘Seven Rio’ ready for Petrobras
Watch a video of a ceremony marking the launch of a pipe lay support vessel, held last week at a yard in the Netherlands. The vessel, named Seven Rio, was built by Royal IHC, formerly known as IHC Merwede, for an international subsea services provider Subsea 7. The Seven Rio, launched at the Krimpen
DNV GL launches new recommended practice for subsea lifting
DNV GL has informed that the completion of a joint industry project (JIP) to improve existing standards and regulations around subsea lifting operations has resulted in a new recommended practice (RP). The recommended practice developed by DNV GL provides guidance on the proper design and correct op
BG Group revises CEO remuneration
Oil and gas company BG Group will revise the salary package for its newly appointed CEO, Helge Lund after a significant number of shareolders questioned the structure of the package. According to the company, the revised package brings all elements of Lund’s remuneration within the company’s remuner
Statoil, Wintershall complete Aasta Hansteen deal
Norwegian energy company Statoil has completed the transaction with the German oil and gas company Wintershall to farm down in Aasta Hansteen, Asterix and Polarled and exit two assets—the non-core Vega and Gjøa fields—on the Norwegian continental shelf (NCS). The transaction will enable Statoil to r
Rosneft scraps charters for two more offshore vessels
Norway’s Rem Offshore has received notice of contract termination for two of its platform supply vessels (PSV) “Rem Server” and “Rem Supporter”. The vessels were chartered by Karmorneftegaz SARL in 2013 for operations in the Kara Sea. Karmorneftegaz SARL is the joint venture established between Russ