Norway
News
February 13, 2015
Eni Norge has entered into a contract with TOOLS for the provision of services and supplies to the Goliat FPSO, leading to a further buildup of activity for the supplier in Hammerfest.
News
January 14, 2015
STOCKHOLM, Sweden (Bloomberg) -- Lundin Petroleum and Statoil ended talks on jointly building an oil terminal in Norway’s Arctic, dealing a blow to the nation’s hopes of creating a hub for Barents Sea fields in an effort to revive its falling output. Stockholm-based Lundin’s Alta and Gohta discoveries are too far from Statoil’s Johan Castberg deposits to warrant joint development, and the resource estimate for the Swedish explorer’s discoveries is too uncertain to commit to any investments in an onshore oil terminal or pipelines, said Ashley Heppenstall, its CEO.
News
January 13, 2015
EDINBURGH, United Kingdom -- Despite the dramatic fall in oil prices in the last quarter, Wood Mackenzie's annual review of Norway's upstream oil and gas sector shows that on the surface 2014 was business as usual for the country's buoyant upstream sector. Sustained high oil prices for the majority of 2014 ensured that exploration continued apace, capital spend cooled only a little, M&A activity was at record levels and production even increased for the first time in over a decade. However, the slump in oil prices towards the end of the year means that the outlook for 2015 is a different story, as Wood Mackenzie warns that cuts in exploration and development spend will be substantial -- and creating value from deals done in 2014 becomes more of a challenge.
News
January 08, 2015
OSLO, Norway (Bloomberg) -- Statoil ASA could be forced to delay its Johan Castberg project in Norway’s Arctic waters for a third time after oil prices dropped by more than half since June. “It remains to be seen whether we’re able to come up with a good enough solution within the timeframe that’s been set,” Eldar Saetre, Statoil’s acting CEO, said in an interview in Oslo. “There’s a situation that forces us to make tough prioritizations.”
News
December 23, 2014
PARIS (Bloomberg) -- Total SA and its partners will use a record 16 ice-breaking tankers to smash through floes en route to and from the Arctic’s biggest LNG development. They’re still looking for a way around a freeze in U.S. financing. With 22 wells drilled, and a runway and harbor built for the $27 billion project in Russia’s Yamal Peninsula, where temperatures can reach 50 degrees below zero Celsius, Total, OAO Novatek and China National Petroleum Corp. have little choice but to push ahead.
