Arctic ///

Novatek eyes LNG cargo transfers should tanker sanctions last

Russia’s biggest liquefied natural gas producer expects to be able to mitigate any impact should U.S. sanctions on China prevent it from using a third of its fleet.

ConocoPhillips to acquire Nuna discovery acreage in Alaska

ConocoPhillips Alaska (COPA) has announced that it has entered into an agreement with Caelus Natural Resources Alaska, LLC to acquire 100% of the Nuna discovery, located just east of the Colville River and approximately 5 mi southwest of Oooguruk field.

CNOOC to acquire 10% equity interest in Arctic LNG 2

CNOOC Limited has announced that the Company and CEPR Limited, a wholly-owned subsidiary of the Company, entered into a Share Purchase Agreement with Joint Stock Company Novatek and Ekropromstroy Limited Liability Company, a wholly-owned subsidiary of JSC Novatek, pursuant to which, CEPR shall acquire 10% equity interest in Arctic LNG 2 LLC held by Ekropromstroy.

Russia's new icebreakers carve path for oil and gas shipping

Last weekend, Russia launched the last of a new crew of atomic icebreakers meant to consolidate the country’s dominance of commercial traffic in the Arctic. As much of the rest of the world recognizes climate change as an emergency, Russia is working hard to capitalize on it — and the U.S. appears to be far behind.

The future is in the north, according to the Norwegian Petroleum Directorate

Our estimates indicate that more than half of the oil and gas that has not yet been discovered is located in the Barents Sea.

CNOOC Limited signs agreement with JSC Novatek for the Arctic LNG 2 project

CNOOC Limited has announced that the company has signed a heads of agreement with JSC Novatek, a Russian gas producer, for the acquisition of 10% interest of the Arctic LNG 2 project.

DNV GL awards CMHI AIPs for arctic SCDU

DNV GL's Head of Technical Centre China Falk Rothe handed over the two certificates to Dr. Lixin Xu from China Merchants Offshore Technology and Research Center (CM-OTRC).

Nidec ASI to supply VFDS for $25.5 billion Arctic Lng 2 project

Nidec ASI, head of the Nidec Industrial Solutions business platform belonging to the Nidec Group, signed last month with Siemens Gas and Power , a multi-million euro contract, for the supply of Variable Frequency Drives Systems (VFDS) and Motors for the Arctic LNG 2 project which will be used as part of the Natural Gas (LNG) liquefaction plants located in the Yamal peninsula in Arctic Russia.

Federal judge blocks President Trump's Arctic drilling plans

The Trump administration's attempt to restore oil and gas leasing in U.S. waters was blocked by a federal judge in Alaska, delivering a win to environmentalists who argued that offshore drilling isn’t worth the risk.

Total signs definitive agreements for entry into Arctic LNG 2

Total announces that it has signed the definitive agreements with Novatek for the acquisition of a direct 10% interest in Arctic LNG 2, a major liquefied natural gas development led by Novatek on the Gydan Peninsula, Russia.

The curious case of Norway's 60 MMbbl of missing oil

Norway has built a reputation as one of the calmest and most predictable corners of the global oil industry, but lately it’s been full of surprises.

Equinor, Var Energi AS complete successful appraisal well in the Barents Sea Goliat license

The resource estimates on Goliat continues to increase. Vår Energi AS has together with license partner Equinor completed an appraisal in PL 229 in the Barents Sea through the successful drilling of the 7122/7-7 S Goliat West appraisal well.

Gazprom Neft strengthens its own Arctic fleet with a second icebreaker, the Andrey Vilkitsky

The Andrey Vilkitsky icebreaker, built as part of Gazprom Neft’s “Time of the Arctic” program, has been launched in St. Petersburg.

Hebron mega-project on track for first oil offshore Newfoundland in 2017

Exxon Mobil’s senior manager for the Hebron oil field development project, 217 mi southeast of St. John’s, said earlier this week that work remains on schedule, and he also outlined some of the design challenges that engineers have faced.

Developing Arctic resources requires relationships with local stakeholders, say panelists

At the Arctic Technology Conference hosted by the OTC group of associations earlier this week in St. John’s, Newfoundland and Labrador, one group of panelists discussed how the industry must engage local stakeholders, if they hope to develop frontier areas successfully.

ONS 2016: Statoil tells ONS crowd that it continues to plan for exploitation of Barents Sea

Some professionals in the global oil and gas industry might think that with oil prices continuing to perform at sub-par levels, all thought of exploiting Arctic plays like the Barents Sea has ceased. But that’s just not true, according to Statoil Executive V.P. Tim Dodson.

ONS 2016: Equipped for the new frontier challenges?

Sub-zero temperatures, high seas, strong winds and low daylight present their own unique challenges for the offshore sector. Conditions can be tough in the frontier areas opening up in the Norwegian Sea and the Barents Sea—which may call for specialized equipment and robust offshore personnel.

World Oil anticipates a drilling recovery after the oil price decline

HOUSTON -- The oil and gas industry’s leading magazine for upstream technology and activity, World Oil, forecasts a sharp drop in drilling, both in the U.S. and internationally, as a direct result of plunging crude oil prices. In its 89th annual forecast and review, World Oil predicts an average WTI oil price of $55.75/barrel (bbl), while Brent will be $58.80/bbl. A Henry Hub natural gas price of $3.35/MMBtu is expected.