Lundin Petroleum said it has commenced drilling of exploration well 16/4-10 on the Fosen prospect. The well is 27km south of the Edvard Grieg field and 11km south of the Luno II discovery on the Norwegian Continental Shelf.
Statoil’s chief executive Eldar Saetre said he “can’t afford the $100 way of thinking” as oil prices continue to decline. The boss of the Norwegian operator said oil companies have become too accustomed to a high oil price.
Aker Solutions today confirmed it had launched a five-month test programme for its carbon capture scheme in Norway.
Norwegian operator Statoil has awarded Aker Solutions a contract for a front-end engineering and design contact for the proposed subsea tie-back of the Trestakk field in the Norwegian Sea.
The world’s biggest wealth fund won’t be joining its counterparts in a selloff that’s hurting already depressed markets. In fact, officials who supervise the $780 billion fund haven’t even discussed the possibility of shifting strategy, according to Egil Matsen, who this week started as the new deputy central bank governor in charge of oversight of the investor.
Eni has been given approval from the Norwegian Environment Agency to start oil production from the Goliat field in the Barents Sea.
Norway's $790billion sovereign wealth fund will vote in favour of a merger of energy companies Shell and BG.
EMGS (Electromagnetic Geoservices) has sold more than 11million shares in North Energy.
Faroe Petroleum said it has been awarded six new exploration licenses in Norway. The company said it includes two operatorships under the 2015 Norwegian APA licence round.
Given a choice, Statoil ASA and the other owners of the giant Johan Sverdrup oilfield would have preferred to avoid the collapse of crude prices that has upended the industry.
Norwegian operator Statoil is looking to reactivate a suspended rig to carry out well plugging work in the North Sea. The Scarabeo 5 had previously been suspended by the company from October last year.
The drop in global oil price has meant a decrease in Norway’s overall tax revenue since last year.
Norwegian operator Statoil will cut the development costs at the Johan Sverdrup field. The company’s partner,Det Norske Oljeselskap, said the move was being made as low oil prices continue.
The Norwegian Petroleum Directorate latest production figures for December 2015 reveal an increase on the previous month.
Aker Solutions is set to reduce its headcount by up to 900 positions as it looks to “reposition” its MMO (maintenance, modification and operations) operations in Norway.
Norwegian police have dropped a planned appeal in a decade-long tax fraud case against drilling firm Transocean.
Statoil has acquired a minority stake in Norwegian operator Lundin Petroleum.
Alex Salmond has called for a Norwegian-style exploration credit scheme to help stimulate jobs in the North Sea oil industry. The former First Minister spoke in the House of Commons on the same day he took part in his first call-in show for LBC Radio.
Norwegian operator Statoil and its partners have agreed on a development for the Trestakk oil and gas discovery off the coast of Norway after reducing initial costs estimated by 30%.
Songa Offshore said one of its rigs is currently being repaired after a blowout preventer equipment failure while final tests were being carried out on location at Statoil’s Troll field. The company said all required spare parts are on the Songa Endurance ready to resolve the incident.
Statoil said an earlier gas leak at its Karsto processing plant in Norway has been stopped.
Statoil has signed new agreements with OneSubsea and Aker Solutions. The Norwegian operator said the agreement signed form the basis for potential new EPC contract for subsea equipment in the medium term future.
Norway’s central bank can probably sit out the global currency war that is now at its doorstep. Even a potential intervention in neighboring Sweden is unlikely to boost the Norwegian krone as a deepening rout in Brent crude drags down the currency of western Europe’s biggest crude producer. “At the end of the day, the Norwegian krone is oil- fixated,” said Daragh Maher, head of currency strategy for HSBC in New York. “Really, the issue is whether the oil price can find a bottom.”
Statoil has evacuated workers from its Karsto processing plant after a suspected gas leak.
A rig which was battered by huge waves in the Norwegian North Sea leaving one worker dead and two injured had not been tested for the impact of a wave.