Offshore Arctic News


Aibel Picks Up Snøhvit Future FEED Contract

Sep 02, 2020

Norwegian oil and gas company Equinor has awarded its compatriot Aibel a front-end engineering and design contract (FEED) for modification of the Hammerfest LNG plant in connection with the Snøhvit Future project. Snøhvit is the first development in the Barents Sea…

Rosneft Restarts Kara Sea Drilling After Sanctions Pause

Aug 18, 2020

Russia's largest oil producer Rosneft has started drilling on two wells in the Kara Sea in the Russian Arctic, its Chief Executive Igor Sechin said on Tuesday.It is the company's first project in the Kara Sea since it was forced to suspend a joint venture project in the area with U…

Lundin: Offshore Activities Returning to Pre-Covid-19 Levels

Jul 29, 2020

Swedish oil firm Lundin Energy, a partner in Norway's giant Johan Sverdrup oilfield, reported worse-than-expected operating profit in the second quarter as the fall in prices due to the COVID-19 pandemic more than offset record output.Earnings before interest and tax (EBIT) fell to $166…

PGS Kicks Off Barents Sea Seismic Survey

Jul 06, 2020

Norwegian seismic acquisition company PGS has started an ultra-high-density seismic survey in the Barents Sea. The survey extends Hammerfest Basin coverage further west and north into the southern Loppa High. The first data will be available Q4 2020…

BP Wraps Sale of Alaska Business

Jul 02, 2020

BP Plc said it completed the sale of its Prudhoe Bay oil and gas producing properties to closely-held Hilcorp Energy, ending 60 years as a top Alaskan oil producer.BP and other oil majors have reduced their production roles in the northernmost U…

Aker Solutions, Equinor Sign LoI for Askeladd Subsea System

Jun 30, 2020

Norway's Aker Solutions has received a letter of intent from Equinor to deliver the subsea production system for the Askeladd Vest natural gas development in the Barents Sea in northern Norway.The development of Askeladd Vest is phase two of…

Alaska Greenlights BP's Sale of Oil Leases to Hilcorp

Jun 30, 2020

Alaskan officials on Monday approved BP Plc's sale of its oil and gas leases in the state to closely held Hilcorp Energy Co. as part of a previously announced $5.6 billion deal.BP last year agreed to sell its Alaskan properties, including interests…

Norway Plans Large Expansion of Arctic Oil Exploration

Jun 24, 2020

Norway is planning a major expansion of oil exploration in the Arctic, despite commitments to tackling global warming and opposition from environmental groups.Minister of petroleum and energy Tina Bru said on Wednesday the expansion was needed to protect jobs and generate wealth…

Norway Offers 36 Offshore Blocks to E&P Firms

Jun 19, 2020

Energy companies can apply to explore for oil and gas in 36 new exploration blocks off Norway, the country's oil and energy ministry said on Friday.Western Europe's largest oil producer conducts regular licensing rounds to stimulate offshore oil exploration…

Keppel Rejects Awilco Drilling's Rig Contract Termination. Ponders Legal Action

Jun 09, 2020

Singapore's offshore rig builder Keppel is considering taking legal action against Awilco Drilling after the drilling company on Monday said it had terminated a rig construction contract with Keppel.Awilco Drilling said Monday that its subsidiary…

No Change to Rosneft Sanctions Despite Ownership Change

Jun 08, 2020

Russia lowering its direct stake in top oil producer Rosneft will not alter its exposure to U.S. sanctions, a U.S. Treasury spokesman told Reuters.State holding company Rosneftegaz has lowered its 50.33% direct stake to 40.4% with subsidiary RN-NeftKapitalInvest taking 9…

Russian JV Orders Walk-to-work Icebreaker

Jun 02, 2020

After a tender procedure, Dutch shipyard Royal Niestern Sander and a joint-venture between Russia's Mercury Sakhalin and Pola have signed an agreement for the construction of the world’s first shallow draft ice-breaking walk to work vessel. After delivery in December 2021…

Gazprom's Arctic Offshore Platform Ships Its 200th Oil Cargo

May 28, 2020

Gazprom Neft, the oil branch of Russian gas giant Gazprom, has shipped the 200th consignment of ARCO crude from its Prirazlomnaya offshore platform in the Russian arctic.This milestone shipment was carried out by the Mikhail Ulyanov tanker…

PGS Completes Shetland Survey. Moves Vessel to Barents Sea

May 28, 2020

Norwegian seismic acquisition company PGS has completed its East Shetland Basin 2020 survey using the Ramform Tethys seismic vessel.The company said Wednesday the first results of the survey would be available in August. 'PGS and the survey…

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