Norway has given Wintershall the go-ahead to drill a wildcat well off Norway. North Atlantic Drilling’s West Phoenix rig will be used to drill the well, about 120 kilometres southwest of the Aasta Hansteen field. Wintershall has a 40% operated stake in licence 894, Statoil Petroleum has 40% and Petoro had 20%.
Asset management in the Nordic region is dominated by Norway’s $1 trillion sovereign wealth fund, which last week said it wants to exit all its oil and gas stocks.
Can Norway dump $35 billion in oil and gas investments, and simultaneously convince that same industry to throw money into the country’s own fossil-fuel future?
Statoil has awarded Sembcorp Marine in Singapore the £375million contract to build the hull and integrated living quarters for the vessel which will serve the Johan Castberg field in the Barents Sea.
Norway has given Swedish firm Lundin permission to drill a wildcat well in the Barents Sea. The Leiv Eiriksson rig will carry out the drilling campaign on licence area 533. Lundin operates the licence and holds a 35% stake. Aker BP also has 35% while DEA has 30%.
Norwegian oil service firm Aker Solutions posted an increase in third quarter profits thanks to a cost efficiency drive and its involvement in major projects.
Norway’s offshore safety watchdog has given Statoil permission to drill an exploration well in the North Sea. Drilling of the Tune Statfjord prospect on production licence 190 is expected to start in November and last about 100 days. Deepsea Atlantic semi-submersible rig, operated by Odfjell Drilling, will be used on the drilling campaign.
Norwegian private equity fund HitecVision has restructured oil service group Apply after more than doubling its stake through a £37.5million investment.
Norway’s offshore safety watchdog said today that it had uncovered a number of flaws in Statoil’s drilling and well operations on the Visund A facility.
Austrian oil company OMV’s appraisal well on the Wisting discovery in the Barents Sea has encountered an oil column, the Norwegian Petroleum Directorate (NPD) said today.