Cost cuts are painful, but for Norway’s oil industry, making every penny count has also yielded a surprising production windfall.
Faroe Petroleum has announced the commencement of the Eni-operated Boné exploration well, 7318/12-1, in the Barents Sea.
GEODynamics acquired Paradigm GeoKey’s Aberdeen, Scotland-based perforating business unit on Jan. 1, 2017. As a result of the transaction, GEODynamics has established a UK operating company. Chris Chalker, former managing director of Paradigm GeoKey, has joined the GEODynamics team as vice president, Eastern Hemisphere and will be based in Aberdeen to manage and grow GEODynamics’ business throughout the region.
Statoil plans to drill around 30 exploration wells in 2017, an increase of around 30% compared to 2016. More than half of the wells will be drilled on the Norwegian Continental Shelf (NCS).
Statoil has completed its acquisition of Wintershall’s 25% interest in the Byrding project on the Norwegian Continental Shelf. As a result, Statoil’s operated interest in Byrding (PL090B) has increased from 45% to 70%.
Even billionaires make mistakes. In 2013, Kjell Inge Rokke criticized his oil company and its partners for awarding a contract for a platform deck at the Ivar Aasen field in Norway to a Singaporean company instead of one he part-owned, Kvaerner ASA.
Aker BP has reported first oil from Ivar Aasen field in the North Sea. The field has an expected economic life of 20 years, depending on oil prices and production development, the company said.
Aker BP ASA has concluded the drilling of wildcat well 18S and appraisal wells 18A, 18B and 18C, in the Norwegian North Sea, without establishing commercial production. The wells were drilled in 121 m of water, with the Maersk Interceptor drilling facility, 4 km south of the Frigg Gamma Delta oil discovery.
DEA has strengthened its position in Norway by acquiring participating interests in seven licenses in the Njord area of the Norwegian Sea, including a 20% increased interest in Njord field, from Engie E&P Norge.
Billionaire Kjell Inge Rokke’s Aker BP and two private equity-backed companies are in talks to buy stakes in oil fields off Norway from Exxon Mobil Corp. that are valued at about $1 billion, according to people with knowledge of the matter.
The man overseeing energy policy in western Europe’s biggest oil-producing nation says the worst downturn in the history of Norway’s offshore industry appears to have bottomed out as this month’s historic OPEC deal continues to reverberate across the globe.
Statoil’s Troll B field has produced 1 Bboe since it came on-stream September 1995. Troll fields, B and C combined, have been the largest oil producer on the Norwegian continental shelf (NCS) for the last three years.
AGR has been awarded a Frame Agreement with Wintershall Norge for delivering qualified technical manpower supporting Wintershall’s onshore and offshore teams.
Subsea 7 has been awarded a contract by Centrica for Oda field in the Norwegian North Sea.
Wood Group and Heerema Fabrication Group (HFG) have signed a memorandum of understanding (MoU). The companies will join efforts to offer wellhead platform development, from design to installation, hook-up and commissioning, to clients on the Norwegian Continental Shelf (NCS).
Norway expects Royal Dutch Shell Plc to go forward with a shelved project to boost recovery of natural gas at the Ormen Lange field, and warned it will start pushing the company for progress from next year.
Aker BP, one of Europe’s largest independent oil companies, has awarded a new frame agreement to DNV GL, covering a wide range of safety, verification, inspection and classification services across its installations on the Norwegian Continental Shelf.
Centrica has submitted the Plan for Development and Operation (PDO) for Oda field to Norway’s Ministry of Petroleum and Energy. Centrica and its partners will invest about NOK 5.4 billion in the development of Oda field, which is scheduled to start production in 2019.
Aibel has been awarded a FEED study for the installation of a new gas module on Statoil’s Troll C platform. The contract also has an option for the implementation phase.