Arctic ///
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.
ConocoPhillips has provided an update on its operating plan for Alaska, focusing on the company’s long history of creating value in the state and an ongoing commitment to invest in low cost of supply opportunities.
Global independent provider of ROV services, M2 Subsea, has secured a contract to provide inspection services for Premier Oil’s Balmoral Floating Production Vessel (FPV).
Michele Cowart, World Oil
Akofs Offshore has been awarded a contract for light well intervention services, using its 156-m vessel, Akofs Seafarer, for all Equinor-operated licenses, in the period 2020 to 2025.
Michele Cowart, World Oil
EnerMech has appointed Salvatore Cutino as regional director for Africa, based in Cape Town, South Africa.
Otto Energy Limited has advised that it has executed a binding term sheet agreement that will see Otto participate in the drilling of a highly prospective Nanushuk oil trend exploration well within its Western Blocks on the Alaska North Slope in early 2019.
Don’t hold your breath waiting for oil from ANWR.
Total SA will take 10% stake in a multi-billion-dollar liquefied natural gas project in Russia’s frozen north from Novatek PJSC.
As Alaska’s congressional delegation worked feverishly last year to achieve the decades-long dream of drilling for oil in the Arctic National Wildlife Refuge, they came across a formidable opponent: Canada.
The Alaska LNG Project reached a historic milestone today as BP Alaska and Alaska Gasline Development Corporation (AGDC) announced the parties have agreed to key terms of a gas sales agreement, including price and volume.
Baker Hughes, a GE company, has been awarded by Statoil Petroleum AS and Aker Solutions a contract to provide turbomachinery equipment for the topside structure for the floating production, storage and offloading vessel (FPSO) to be located at Johan Castberg field in the Barents Sea.
Lundin Petroleum AB has announced that its wholly owned subsidiary Lundin Norway AS has commenced drilling well 7220/11-5 on the Alta discovery in PL609 in the southern Barents Sea. Following drilling, the well will be used for extended well testing.
The Bureau of Ocean Energy Management (BOEM) has announced it will publish in the Federal Register a call for information and nominations covering a proposed lease sale in Alaska’s Beaufort Sea Planning Area in 2019.
The contract includes the construction and installation of the topside structure for the floating production, storage and offloading vessel (FPSO) to be located on the Johan Castberg field in the Barents Sea. The contract has a total value of about NOK 3.8 billion.
Aker Solutions will as a subcontractor of Kvaerner deliver modules for the floating production, storage and offloading (FPSO) vessel for the Statoil-operated Johan Castberg development, the largest oil discovery in the Norwegian Barents Sea.
After a disappointing year for drillers, Norwegian authorities are reviewing their hopes for the Nordic country’s hottest exploration area.
New oil exploration in Arctic federal waters is underway this week with the spudding of a new oil well from an existing man-made island in the Beaufort Sea.
U.S. Secretary of the Interior Ryan Zinke released an updated resource assessment for the National Petroleum Reserve in Alaska (NPR-A), the Western Beaufort Sea, adjacent State and Native lands, and State waters, which estimates the mean undiscovered, technically recoverable resources both on and offshore to include 17.6 Bbbl of oil and more than 50 Tcf of gas.
Congress is close to lifting a 40-year-old ban on energy development in Alaska’s Arctic National Wildlife Refuge, but drilling for oil in that frozen wilderness may still be years away as the effort faces exhaustive environmental reviews and likely lawsuits.
Building the $27 billion Yamal LNG project meant shipping more than 5 million tons of materials to construct a plant 600 km north of the Arctic circle.