News
Norway: Oil firms called to nominate NCS blocks
The Norwegian government has invited oil companies to nominate blocks for the 24th licencing round on the licensing continental shelf. The numbered licensing rounds cover frontier areas opened for petroleum activities, with the greatest potential for large discoveries. “The petroleum industry will b
Norway: Oil field development costs almost cut by half
The price tag for developing a field on the Norwegian shelf has declined by an average of more than 40 per cent since the autumn of 2014, according to the Norwegian Petroleum Directorate’s analysis of eight planned developments that are approaching start-up. The decline is a result of a combination
Statoil, partners shave off Johan Sverdrup field costs
Norwegian oil giant Statoil has managed to drive down the cost of development of its giant Johan Sverdrup field in the Norwegian Sector of the North Sea. “Since the plan for development and operation (PDO) of the Johan Sverdrup field was approved by Norwegian authorities, Statoil has cooperated with
Gazprom sets up Gazprom NGV Europe
Gazprom said on Friday it has established Gazprom NGV Europe, a company headquartered in Berlin.
Popular news, August 22 – 28, 2016
Popular news, August 22 – 28, 2016
Top news of the week August 22-28, 2016
State to take over control of giant Alaska LNG project The Alaska Gasline Development Corp, owned by the state of Alaska, said it plans to assume full management of the $45 billion-plus Alaska LNG Project by the end of this year. Hoegh LNG in first FSRU conversion project Oslo-based Höegh LNG has te
Eni’s Goliat field shut down after power outage
Another day, another problem for Goliat. Eni Norge, the operator of the giant Goliat FPSO in the Barents Sea, off Norway, has informed that the production from the namesake oil field was stopped on Friday night. “The Goliat FPSO lost all power from shore 26.08.2016 at 22:30, and the production was s
Sembmarine completes purchase of Norway’s LMG Marine
Singapore’s offshore rig builder Sembcorp Marine Ltd has completed the acquisition of Norway’s LMG Marin AS for $20 million. Sembmarine said on Friday that LMG has now become an indirect wholly-owned subsidiary of the company. Offshore Energy Today reported on Sembmarine’s plans to acquire the Berge
EMGS in Barents Sea survey
Norway’s Electromagnetic Geoservices ASA (EMGS) has entered into a data licensing agreement with a repeat customer for 3D EM data to be acquired over the Hoop area in the Barents Sea. The pre-funding amounts to $1 million. This new acquisition is expected to take place in Q3 2016 and will become par
NorSea gets job to store ‘Johan Sverdrup’ pipelines
Norway’s NorSea Group has secured a contract with Norway’s largest oil firm Statoil, to provide intermediate storage for the export pipelines to be installed at the giant Johan Sverdrup field, off Norway. The company said that the value of the contract was close to NOK 80 million ($9.7 million). Und
Höegh LNG Partners Q2 net income slips
Höegh LNG Partners, the Bermuda-based limited partnership formed by Norway’s Höegh LNG, reported a 75.2 percent drop in its net income in the second quarter of this year. The MLP reported net income for the three months ended June 30 of $4.1 million, as compared to $16.4 million in the corresponding
VIDEO: Statoil’s Njord A platform comes home
The Njord A platform, normally producing oil from the Njord field in the Norwegian Sea, has been towed ashore. Statoil on Friday said that the platform arrived at Kvaerner Stord on Thursday, where it will be reinforced and renovated for production beyond 2030. The Njord A was towed by AHTS Magne Vik
MeyGen project components readying for installation (photos)
Another Andritz 1.5MW tidal turbine has left the factory, with foundation stabs and a massive cable management system currently being mobilised for the MeyGen project, according to Atlantis Resources’ social media pages.
Oil prices fall as Saudi Arabia dampens prospects of output freeze
Oil prices fell on Friday after the Saudi energy minister tempered expectations of strong market intervention by producers during talks next month, and as analysts pointed to an ongoing supply overhang that was weighing on markets.