DNO makes Kurdistan oil discovery
Norwegian operator DNO said it has made an oil discovery in the Kurdistan Region of Iraq.
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Det Norske seeks 20 million barrels more of Sverdrup Field
Det Norske Oljeselskap ASA is claiming as much as 20 million barrels more of the Johan Sverdrup oil field as it appeals a government decision that reduced its stake in the giant deposit offshore Norway. The Trondheim-based company asked the government to raise its stake to 12.23 percent from the 11.57 percent it was awarded in a July 1 ruling by the Petroleum and Energy Ministry, according to an appeal letter dated Tuesday obtained by Bloomberg. The field holds as much as 3 billion barrels of oil, meaning a successful appeal may result in an increase of 20 million barrels. “Det Norske asserts that the decision is invalid,” it said in the appeal. The ministry has misinterpreted the petroleum act and hasn’t provided sufficient justification for its decision, which constitutes a process error, the company said.
Opinion:Balancing the benefit and controlling cost
Last month, I wrote about how the drop in the oil price will require operators in the UKCS to consider more carefully how they collaborate with each other. Operators should equally be considering how a continued period of low oil price will affect their relationships with contractors in the oil and gas supply chain. The UK Oil and Gas Industrial Strategy published in March 2013 identified the vital contribution of supply chain contractors to the continued development of the UKCS both through working with operators to enhance performance and efficiency and through the development of new technologies.