While it seems most Arctic exploration activity has slowed, it really depends on where you look. Bruce McMichael reports. Gazprom Neft’s Prirazlomnoye facility, in the Russian Arctic. Photos from Gazprom Neft…
Statoil aims to conduct a major exploration campaign in several parts of the Barents Sea in 2017, in addition to strengthening its position in the area through several transactions with other companies. Barents map…
In the run up to this week’s ONS (Offshore Northern Seas) conference in Stavanger, the short-term prognosis for the Norwegian oil and gas industry wasn’t good. Statistics Norway pointed to a nearly 20% drop in investment in the sector, estimated for 2017…
While French oil major Total has demonstrated the first all-electric Xmas tree, Norway’s Statoil is eager to do the same. Elaine Maslin examines the subsea all-electric initiative. The Åsgard subsea gas compression system…
The price tag for developing a field on the Norwegian shelf has declined by an average of more than 40% since the autumn of 2014, according to the Norwegian Petroleum Directorate’s (NPD) analysis of eight planned developments that are approaching start-up…
Some US$50 billion has been dropped from the Norwegian oil and gas investment hopper from 2014 up to 2020, according to figures presented at the ONS exhibition and conference in Stavanger today. The fall, amid a $1 trillion drop in global spending in the same period…
John Bradbury takes a look at activity in the North Sea – across Norway and the UK. Johan Sverdrup - an artist's impression. Image from Statoil. By the middle of 2016 it was evident…
Lundin Petroleum has started its 2016 exploration and appraisal campaign in the Loppa High area in the southern Barents Sea targeting 587-862 MMboe. The winterized Leiv Eiriksson semisubmersible drilling rig (pictured) has been contracted…
Subsea technology and developments have been essential to unlocking the Norwegian subsea industry, but they are being challenged by alternative solutions and need to up their game to thrive in the future, a senior Statoil executive told the Underwater Technology Conference in Bergen…
UK independent operator Premier Oil says it has cut costs on its North Sea Catcher floating production project by 15% - and the project remains on schedule. Forecast gross capex to first oil is now anticipated to be about US$1.35 billion…
Statoil has picked Aker Solutions to provide a concept study for a floating production, storage and offloading facility for the Johan Castberg oil field development in the Barents Sea. The announcement comes just days after Statoil said it was now moving ahead with the delayed project…
Some 65 MMboe will be left untapped offshore Norway due to the early shut down of fields and the failure of the Vette project to meet economic margins, according to a report by the International Energy Agency (IEA). The IEA's April Oil…
Statoil has cut its average project cost per barrel from US$70/bbl to around $40/bbl, but the work has just started and the changes need to be permanent, even if prices increase, CEO Eldar Sætre said this morning. Speaking at the Subsea Valley conference in Oslo…
Statoil is to move ahead with its delayed Johan Castberg oil field in the Barents Sea after cutting estimated development costs by half. The firm is now planning a floating production, storage and offloading vessel for the development…
35 offshore projects and 100 rig years have slipped after the oil price collapse. Oddmund Føre, Analyst, Rystad Energy, explains. The market for oilfield services is hurting and offshore drilling is no exception. The global market for…
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