Statoil awarded IKM Ocean Design a contract worth an estimated US$22.5 million (NOK 200 million) for the Johan Castberg subsea integration pre-FEED and FEED project. Image of the contract signing in Oslo of Peder Hoås and Geir Paulsen…
Despite a multibillion dollar backlog of projects, put on hold amid US$30-50/bbl oil prices, exploration firms are still eyeing resources in arctic waters. New areas of the Barents Sea were offered to oil firms in Norway’s 23rd licensing round…
Ice cover in the far north isn’t static, but varies in extent with the seasons and from year to year. Thanks to the Gulf Stream, the southern Barents Sea is usually ice-free all year round, but icebergs and sea ice can pose a real threat to installations if they collide…
Autronica Fire and Security has announced that Statoil has selected the Autro Safe integrated fire and gas detection system for operations in the Johan Sverdrup oil field in the North Sea. As part of the four-year framework agreement…
Europe is facing a tough downturn, but it will not last forever. Rystad’s Audun Martinsen takes a look. Clair Ridge modules onboard Dockwise’s Mighty Servant transport vessel earlier this year…
The Barents Sea Johan Castberg development has been delayed yet again and the Snorre 2040 project pushed back as Statoil and its partners look to make further cost reductions on the projects. Statoil is also working with operators to develop a Barents Sea region infrastructure proposal…
According to the United States Geological Survey, the area above the Arctic Circle holds approximately 90 billion barrels of undiscovered, technically recoverable oil and an estimated 1,670 trillion cubic feet (Tcf) of technically recoverable natural gas…
Statoil aims to shed a further 15% on the capital cost for the Johan Castberg development, offshore Norway, before it can move forward, its project manager said. The up to 600MMboe Barents Sea Johan Castberg project has been delayed twice…
Statoil’s final well in its 2013-2014 drilling campaign, wildcat well 7227/10-1, has come up dry and is permanently being plugged and abandoned, according to the Norwegian Petroleum Directorate (NPD). Map from Statoil…
Statoil Petroleum has made a gas discovery in wildcat well 7220/2-1 on the Isfjell prospect in production licence 714. The well, the first in PL714, was drilled in about 429m water depth, using the Transocean Spitsbergen semisubmersible drilling rig (pictured)…
FMC Technologies reported a 15% increase in revenues and its highest quarterly subsea margins in four years, thanks to its Subsea Technologies division. Subsea Technologies saw a 16% increase in Q3 revenue, at US$1.3 billion, compared to the previous quarter…
Statoil announced a gas discovery made in the Pingvin prospect in the Barents Sea, has been found non-commercial. Map of Pingvin prospect. From Statoil. According to the Norwegian Petroleum Directorate (NPD)…
Statoil announced further delay in developing the Johan Castberg project, postponing final concept selection on the Barents Sea project until 2015. “Unfortunately, the exploration campaign has proven less new oil resources in the Castberg area than expected…
Statoil will complete the drilling of the Pingvin prospect in exploration well 7319/12-1 in the Norwegian Barents Sea, says partner on the well North Energy. The well identified gas in a sandstone reservoir. The well acquired extensive data through coring…
Statoil resumed drilling operations on 10 September at the oil-bearing strata in the exploration well 7319/12-1 Pingvin after receiving permission from the Norwegian Environment Agency. The Pingvin prospect is in production license 713 in the Norwegian Barents Sea…
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