Although Norway’s offshore segments took a pounding in share-price value on Monday — with every segment incurring losses — the consensus here is that fundamentals offshore are good, and a combination of general uncertainty and specific contract losses are what rocked investors starting their week…
The withdrawal from Norway’s offshore sector of ExxonMobil appears to be underway, and the development to some looks like the start of a pullout of “international oil majors” from a sector dominated by stately player, Equinor.True, ExxonMobil’s departure is symbolic…
European oil major Equinor said on Thursday it expects less capital expenditure this year, partly due to further cost savings at its Johan Sverdrup oilfield, after reporting quarterly earnings slightly below forecasts.Adjusted earnings before interest and tax (EBIT) fell to $3…
Halliburton leveraged technology from the mining industry to reveal subsurface structures in a way that improves geosteering, geomapping and geostopping in complex reservoirs.The service company has introduced EarthStar 3D Inversion, a 3D reservoir mapping process that…
Aker BP ASA, operator of production license 340, has finalized the results after drilling wildcat well 24/9-15 S (Froskelår Nordøst) and appraisal well 24/9-15 A.According to a press note from the Norwegian Petroleum Directorate (NPD), the wells…
The Norwegian Petroleum Directorate (NPD) expects that more than 50 exploration wells will be drilled in 2019. This is just as many as in 2018. Most of the wells being drilled in 2019 are wildcat wells, while in 2018 there was an almost equal number of wildcat and appraisal wells…
Oil firm Aker BP has come up dry in the Freke-Garm exploration well in the North Sea, the Norwegian Petroleum Directorate said on Tuesday.The wildcat well 15/6-15 was drilled by the Deepsea Stavanger drilling facility, about 15 kilometers northeast…
It might be peak IPO season (Forbes), and technology investors may be looking elsewhere (say fintech), but two years of venture capital investments in the North Sea are rounding on stranded North Sea value.The old investor pattern of looking…
Oil company Aker BP has awarded Norwegian testing, cleaning and inspection service provider IKM Testing a frame agreement that includes most of IKM Testing’s core services. The duration of the frame agreement is six years plus an option period…
ExxonMobil is considering selling all of the stakes it holds in oil and gas fields off the Norwegian coast, a spokeswoman said.Two years ago the U.S. major – the world's largest oil company – sold its operated assets in the area. But it has retained stakes in more than 20 other fields…
Norwegian labor unions and oil rig owners agreed a wage deal on Friday, averting the outbreak of a strike that would have halted some of the Nordic country's crude production and paralyzed exploration activity for new resources, unions and companies said…
Aker BP is gearing up to drill its Freke-Garm exploration well in the Norwegian sector of the North Sea using Odfjell Drilling's Deepsea Stavanger semisubmersible drilling rig. Norway's Petroleum Safety Authority (PSA) authorised the well, 15/6-15…
Neodrill's CAN-ductor technology is capable of reducing a well's environmental impact by as much as 44% compared to a conventionally drilled well, a recent report found.The CAN (Conductor Anchor Node) is a combination of suction anchor and guide pipe…
Norwegian based engineering, procurement and construction (EPC) firm Kvaerner said it has been awarded a contract from Shell to perform an early phase design engineering of the planned Jackdaw wellhead platform on the UK Continental Shelf.Kvaerner…
With more demonstrators in the water, more substantial players are taking interest in floating offshore wind.For some time, floating offshore wind has been something of a niche, but now full-scale demonstrators are in the works, and bigger players – including oil and gas companies – are taking note…
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