Norway/NCS ///
Aker BP has entered into an agreement with Equinor Energy to acquire its 77.8% interest in the King Lear gas/condensate discovery in the Norwegian North Sea for a cash consideration of $250 million.
Chevron Corp. is selling its last remaining oil exploration license in Norway, putting it one step closer to a full retreat from the aging North Sea basin as the U.S. major seeks higher returns elsewhere.
Michele Cowart, World Oil
Norway’s largest and longest pipeline, laid by the vessel Saipem Castorone, has reached Johan Sverdrup field.
Today the Norwegian Minister of Petroleum and Energy, Kjell-Børge Freiberg, officially opened the power-from-shore solution which will provide the Johan Sverdrup field in the North Sea with electricity for more than 50 years. Power from shore makes Johan Sverdrup one of the most carbon-efficient fields worldwide.
Equinor has reduced the estimated investments for operated projects in the development phase on the Norwegian continental shelf by some NOK 30 billion ($3.6 billion) since the development plans were submitted to Norwegian authorities.
Global Maritime has been awarded a contract with Equinor until 2020 for marine operations. The contract value is estimated to be around $7-9.5 million, one of the largest in Global Maritime’s history. Global Maritime will oversee project management, engineering, equipment procurement and offshore management with everything handled from their Stavanger and Oslo offices.
Petrofac’s Engineering and Production Services (EPS) division has secured a 12-month engineering services contract extension from Chevron North Sea Limited (Chevron).
Equinor has, together with partners Eni and Petoro, completed the appraisal well on the Cape Vulture discovery from 2017. The well confirms a volume potential of 50-70 MMbbl of recoverable oil. The discovery more than doubles the remaining oil reserves to be produced through Norne field.
Lundin Petroleum AB has announced that its wholly-owned subsidiary Lundin Norway AS has entered into an agreement with Equinor Energy AS, under which Lundin Norway will acquire Equinor's entire 15% working interest in the Lundin Norway operated license PL 359, containing the Luno II oil discovery.
Wintershall Norge AS and its partners have now received approval by the Ministry of Petroleum and Energy for the plan for development and operation (PDO) for the Nova development, about 120 km northwest of Bergen, Norway.
DEA Norge AS, operator of production license 721, has concluded the drilling of wildcat well 7321/4-1. The well is dry.
Wood has secured a new call off from Wintershall to provide engineering and construction services to the Brage offshore platform, west of Bergen, Norway.
Lundin Petroleum AB has announced that its wholly owned subsidiary Lundin Norway AS has successfully completed the Alta appraisal well 7220/11-5 and extended production test in PL609, in the southern Barents Sea.
Aker BP ASA, operator of production license 028 B, has concluded the drilling of appraisal wells 25/10-16 S, A and C on Hanz field, as well as wildcat well 25/10-16 B drilled in production license 915 just southeast of the Hanz field.
Equinor has awarded Transocean a contract for drilling six wells on the Norwegian continental shelf (NCS) by use of the Transocean Norge mobile rig. Drilling start-up is scheduled for the summer of 2019.
Michele Cowart, World Oil
Evy Glørstad-Clark has been appointed senior V.P., exploration, for Aker BP.
The Norwegian Petroleum Directorate (NPD) has granted Equinor Energy AS a drilling permit for well 7324/3-1, cf. Section 15 of the Resource Management Regulations.
Cygnus, the largest single producing gas field in the southern North Sea, is now available for a virtual tour.
The race is on to become Norway’s biggest non-state oil company.
After supplying Europe’s biggest economy with natural gas for more than four decades, Norway is preparing to defend its share as the world’s biggest producers all vie for a larger slice of the $21-billion market.