Arctic ///
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 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'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).
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 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.
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.
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.
The Andrey Vilkitsky icebreaker, built as part of Gazprom Neft’s “Time of the Arctic” program, has been launched in St. Petersburg.
Michele Cowart, World Oil
Companies in the news
The waters around the sensitive Lofoten islands will probably never be opened to oil exploration, according to Norway’s climate and environment minister.
U.S. federal authorities issued an emergency declaration for Alaska after a magnitude 7.0 earthquake struck last Friday, Nov. 30, leaving thousands without electricity and temporarily shutting the state’s most important oil pipeline.
Equinor Energy AS, operator of production licence 615, has completed the drilling of wildcat well 7324/3-1.
The Saipem 7000, one of the largest semi-submersible crane and pipelaying vessels in the world, has arrived at Damen Verolme Rotterdam (DVR) for a major upgrade of its current DP3 system to meet the new closed ring DP3 configuration and ABS EHS-P notation.
Oil & Gas UK has praised news that Azinor Catalyst has struck oil at Agar-Plantain as promising proof of industry’s competitive approach to exploration activity.
ConocoPhillips plans to invite bids by the end of the year for its remaining North Sea assets, which could be valued at up to $3 billion in a sale, according to people with knowledge of the matter.
Faroe Petroleum has announced the results of the Faroe-operated Rungne exploration well 30/6-30 in the Norwegian North Sea.
The Trump administration has authorized Hilcorp Energy Co.’s plan to build an artificial gravel island in the Beaufort Sea north of Alaska and use it to extract crude -- marking the first approval of an oil production facility in federal Arctic waters.
The biggest providers of oilfield services are surfing a wave of international spending on the back of higher prices, but the good news is tempered by an activity slowdown in their own back yard.
Michele Cowart, World Oil
Evy Glørstad-Clark has been appointed senior V.P., exploration, for Aker BP.
A new trade route for energy supplies is opening up north of the Arctic Circle as some of the warmest temperatures on record shrink ice caps that used to lock ships out of the area.