Fossil Energy
Saipem to assist in South Stream pipeline construction
Saipem has been contracted by South Stream Transport B.V. to provide supporting works relating to the construction of the second line of the South Stream Offshore Pipeline for a total value of approximately €400 million ($552 Mln). The entire offshore South Stream project consists of four parallel g
Spike increases Barents Sea presence
Spike Exploration Holding AS has recently signed an agreement with Tullow Oil Norge AS to swap a 15% interest in licence PL494/B/C for a 15% interest in PL722. PL722 is located in the Hoop area in the Barents Sea. The prospectivity of the PL722 acreage is very attractive, especially after the nearby
VNG to drill second and third well in licence 586
The Norwegian Petroleum Directorate has granted VNG Norge AS a drilling permit for well 6406/12-3 B and A, cf. Section 8 of the Resource Management Regulations. Well 6406/12-3 B & A will be drilled from the Transocean Arctic drilling facility at position 64°01’52.37″ north and 6°45’17.46″ east after
E.ON granted permission to drill in Norwegian Sea
The Norwegian Petroleum Directorate has granted E.ON E&P Norge AS a drilling permit for well 6507/5-7, in the Norwegian Sea. Well 6507/5-7 will be drilled from the Borgland Dolphin drilling facility at position 65°32’29.71″ north and 7°34’25.68″ east. The drilling programme for well 6507/5-7 relates
Statoil to use new production equipment at Kristin platform
Statoil Petroleum AS has received consent to use a new compressor and other modified production equipment at Kristin. Statoil is the operator on the Kristin field which is located at Haltenbanken in the Norwegian Sea. Gas from the field is piped to Åsgard Transport and then onwards to Kårstø in Roga
CO2 storage workshop held in Stavanger
Last week, 100 participants from 15 countries took part in a workshop in Stavanger to discuss issues regarding safe handling and storage of CO2. The workshop was headed by the European Association of Geoscientists and Engineers (EAGE), and the target group was scientists and experts from academia an
Ulstein: Solid result in 2013
Norway’s Ulstein Group has delivered what it describes as a good result for 2013 with an operating income of NOK 2.3 billion and an operating profit of NOK 318 million. “We have competent and hardworking employees and an organisation that provide for execution and delivery precision. The good collab
Volstad names new CFO
Volstad Shipping AS has appointed Torstein Heggstad (37) as new Chief Financial Officer (CFO). He comes from Sparebank 1 SMN where he has held different positions within the corporate division since 2005. Torstein Heggstad holds a Master in Business and Economics from Bodø Graduate School of Busines
Aibel starts tenth shutdown at Oseberg
Aibel announced that during the weekend the Company has started shutdown operations at Oseberg oil field in the North Sea. This also marks the beginning of a hectic period with many shutdowns for Aibel. “Now there will be full activity at both night and day for nearly three weeks,” says Aibel’s shut
Johan Sverdrup appraisal well hits oil
Det norske oljeselskap ASA is, as partner in production licence 265, in the process of completing drilling of appraisal wells 16/2-19 and 16/2-19A in the Johan Sverdrup oil discovery. The objective of the wells was to examine the extent and properties of the reservoir rocks in the northernmost part
Power Jacks sales revenues increase by 175 pct
Fast-evolving engineering company Power Jacks has marked record growth in its 25-year history with the company’s sales revenues increasing by 175% to £13.1million in 2013. The company has also bolstered its senior management team in order to meet growing global demand for its products and services,
Maersk launches ‘Quest for Oil’ package for Danish schools
Last week the Maersk Group launched a computer game and teaching materials about oil exploration and oil production for Danish secondary schools, technical colleges and higher preparatory examination courses. The materials are available free of charge. More than 340,000 players have already tried th
Eni 1Q profit falls
Italy’s oil company Eni today reporter its 1Q 2014 net profit was €1.30 billion, down 15.6% from the first quarter 2013. Adjusted operating profit In the first quarter of 2014, adjusted operating profit was €3.49 billion, down 6.8% compared to the first quarter of 2013. This decline was driven by lo
Cyprus, Israel to exchange info on hydrocarbon reserves
Deputy Permanent Secretary of the Cypriot Ministry of Foreign Affairs Ambassador Tasos Tzionis and the Ambassador of Israel in Cyprus Michael Harari signed an Agreement on the exchange and protection of confidential information with respect to hydrocarbons discovered in Block 12 in Cyprus’ Exclusive