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Hess completes sale of interests in Norway

Hess Corporation announced today that it has completed the previously announced sale of its subsidiary Hess Norge, which owns interests in Valhall and Hod fields in Norway, to Aker BP ASA for total proceeds of $2 billion, effective Jan. 1, 2017.

Wärtsilä’s energy storage solution for North Sea Giant reduces costs, emissions

The technology group Wärtsilä has agreed to retrofit the world’s first energy storage solution on board a large offshore supply vessel.

Statoil submits PDO for Snorre expansion project

Statoil is today, on behalf of the Snorre Unit partners, submitting the plan for development and operation (PDO) of the Snorre expansion project to the authorities.

World's most important oil benchmark feels strain of pipe crack

When a vital North Sea oil pipeline cracked earlier this month, it did more than halt the flow of barrels: it stress tested the world’s most important physical crude-price benchmark for producers, traders and consumers.

TechnipFMC awarded contract for Statoil Snorre expansion project

TechnipFMC has been awarded an Engineering, Procurement & Construction (EPC) contract by Statoil for the Snorre expansion project.

Condor Petroleum reports first gas at Poyraz Ridge field, in Turkey

Condor Petroleum Inc., a Canadian based oil and gas company focused on production and exploration activities in Turkey and Kazakhstan, is pleased to announce that natural gas production has commenced at the Company’s 100% owned and operated Poyraz Ridge field in Turkey.

United Oil & Gas provides update on Podere Maiar well, in northern Italy

United Oil & Gas Plc, the London Stock Exchange listed oil and gas exploration and development company, is pleased to announce the Podere Maiar 1 (PM1) well at Selva gas field in the Podere Gallina licence is to be flow tested next month, having been successfully cased for production.

Drydocks World awarded turret mooring system construction contract from SBM Offshore

Drydocks World the leading marine, onshore and offshore service provider to the oil, gas and renewable energy sectors has signed a contract agreement with SBM Offshore to carry-out the construction of the turret mooring system (TMS) for Statoil’s Johan Castberg Floating Production Storage and Offloading (FPSO) vessel.

Maersk Drilling is awarded contract extension by Total

Maersk Drilling has been awarded a contract extension for the jackup rig Maersk Intrepid by Total E&P Norge AS.

Repsol submits new PDO for Yme field

Operator Repsol has submitted a new Plan for Development and Operation (PDO) for Yme field, in the North Sea. More than eight billion kroner will be invested in the development. The planned start-up is 2020.

Faroe Petroleum submits PDO for Fenja field

Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway and the UK, is pleased to announce that the partners in Fenja (previously named Pil/Bue) field (licence PL586) have submitted the Plan for its Development and Operation (PDO) to the Norwegian Ministry of Petroleum and Energy.

Crude declines as Nigeria oil workers strike is suspended

Crude edged lower as an oil-worker strike in Nigeria was suspended and the time line for fixing a key North Sea pipeline didn’t worsen.

Production at Wintershall's Maria field begins one year ahead of schedule

Wintershall, and its licence partners Petoro and Spirit Energy, have started production at the Maria field one year ahead of schedule. Costs have been reduced by more than 20% compared to plan. Oil production has now begun, whereas originally start-up was intended for the fourth quarter of 2018.

Oil ticks higher as North Sea supply hiccup enters second week

Crude edged higher for a third session as the shutdown of one of the world’s most important oil pipelines stretched into a second week.

Aker Solutions wins orders from Aker BP for offshore Norway fields

Aker Solutions won orders from Aker BP for the Skogul and Valhall Flank West oil fields, offshore Norway.

Aker BP submits PDOs for three North Sea projects

Today, Aker BP submitted Plans for Development and Operation (PDOs) for three projects. The total investments will amount to approximately NOK 15.5 billion.

New Africa gas comes at right time for Europe in supply woes

A week ago, Cameroon was getting ready to jostle for space in a global liquefied natural gas market already crowded with new supplies from the U.S. and Russia. Now the extra output couldn’t come at a better time.

Loose cap caused blast in Austria that rattled energy market

The massive explosion that shut down natural gas flows for half a day in Austria this week was caused by a loose cap seal on a newly-installed filtering unit, according to investigations by the operator of the Baumgarten hub.

Subsea UK review shows £7.5-billion subsea industry supports 45,000 jobs

Subsea UK’s latest business activity review reveals that the industry is generating annual revenues of £7.5 billion, compared to £8.9 billion in 2014.

Aker Solutions secures subsea services agreement with Statoil

Aker Solutions has secured a framework agreement to provide subsea services for Statoil-operated oil and gas fields offshore Norway.