Offshore Arctic News

 

Canada's CNLOPB Licenses Equinor's Significant Offshore Oil Discovery

Feb 03, 2023

A Canadian offshore oil regulator said on Friday that it has licensed a significant discovery by Equinor near the country's Atlantic coast. Global oil companies are pumping billions of dollars into offshore drilling because they can turn profits at lower prices than some onshore production, although they are expensive to build. They also can generate fewer emissions per barrel due to their massive scale…

Norway Offers $193 Million Funding to Arctic Floating Wind Farm Project

Mar 10, 2024

A floating offshore wind farm planned in Arctic waters on Friday received 2 billion Norwegian crowns ($193 million) in state funding, with Norway viewing the still costly technology as a key contributor for industry development and emission cuts…

Russia's Arctic LNG 2 Last Line is on Hold

Feb 08, 2024

The third and the last train of the Arctic LNG 2 project in Russia has been put on hold but the second train is likely to be installed, the head of stakeholder TotalEnergies' said.The liquefied natural gas (LNG) project in the Russian Arctic has faced challenges from U…

Russian Arctic LNG 2 Project Hit by US sanctions

Dec 26, 2023

Japan's Mitsui and Co has decided to pull its employees out of Russia's Arctic LNG 2 liquefied natural gas (LNG) project, the Sankei newspaper reported on Tuesday, citing several sources, in yet another blow for the project.Fearing the backlash from the sanctions…

Foreign Shareholders Suspend Participation in Russia's Arctic LNG 2 Project

Dec 25, 2023

Foreign shareholders suspended participation in the Arctic LNG 2 project due to sanctions, renouncing their responsibilities for financing and for offtake contracts for the new Russian liquefied natural gas (LNG) plant, the daily Kommersant reported on Monday…

Johan Castberg Project Costs Rise. First Oil Still on Track, Equinor Says

Sep 19, 2023

Costs at Equinor-operated Johan Castberg offshore field development project have increased by almost NOK 13 billion (currently $1,2 billion) since last year, but the production start-up date remains unchanged and is still slated for the fourth quarter of 2024…

Aker Solutions Wins First SWIFT Contract at Johan Castberg Field With Equinor

Jun 12, 2023

Norwegian offshore services company Aker Solutions has won a contract with the oil and gas company Equinor to deliver the first Submersible Wireless Installer for Tubing (SWIFT™) for 18 tubing hanger installations on the Johan Castberg field…

Equinor's Arctic LNG Plant to Resume Production Next Week After Gas Leak Shutdown

Jun 01, 2023

Norway's Equinor plans to restart production at its Arctic liquefied natural gas (LNG) plant in Hammerfest on June 8 after it was shut down on May 31 due to a gas leak, the company said in a market message on Thursday. The facility will be unavailable until 2100 GMT on June 8…

Security of Supply Concerns Prompt Arctic Barents Sea Gas Pipeline Rethink in Norway

Apr 18, 2023

Building a pipeline to transport gas produced in the Arctic Barents Sea could be worth re-examining due to an increased focus on supply security and Norway exporting more of its gas to Europe, gas infrastructure operator Gassco said on Monday…

In Case Affecting Oil, Norway Supreme Court Says EU Ships Cannot Fish Arctic Snow Crab

Mar 20, 2023

OSLO, March 20 (Reuters) - Norway's Supreme Court ruled on Monday that EU ships cannot fish for snow crab off the Svalbard archipelago in the Arctic in a case also deciding who has the right to explore for oil and minerals in the region.At stake…

Biden Administration to Designate 2.8 Million Acres in Arctic Ocean off-limits for Oil and Gas Leasing

Mar 13, 2023

The U.S. Department of the Interior said Monday that President Biden would take action to designate about 2.8 million acres in the Arctic Ocean nearshore the National Petroleum Reserve-Alaska (NPR-A) as indefinitely off-limits for future oil and gas leasing…

Snøhvit Future: Aibel Wins EPCI Contract for Melkøya Plant Upgrades

Feb 14, 2023

Norwegian oil and gas company Equinor, on behalf of its partners in the Snøhvit offshore gas field in the Barents Sea, has awarded Aibel a major contract for Hammerfest LNG modifications in connection with the Snøhvit Future project.The Snøhvit…

Vår Energi Discovers Oil in Barents Sea, Off Norway

Feb 09, 2023

Norwegian oil and gas company Vår Energi said Thursday it had discovered oil at a well in the Barents Sea, north-west of Hammerfest, Norway.The company made the discovery while drilling the 7122/8-1S Countach well in PL229, near the Goliat production platform…

Norway to Offer Record Number of Arctic Oil, Gas Exploration Blocks

Jan 24, 2023

Norway on Tuesday said it plans to offer energy firms a record number of oil and gas exploration blocks in the Arctic as it seeks to prolong its hydrocarbon production, while green campaigners criticized the risk to the environment. The Nordic country…

Norway's Supreme Court to Hear Arctic Snow Crab Case Affecting Oil

Jan 23, 2023

Norway's Supreme Court will on Tuesday hear arguments on whether EU ships can fish for snow crab off the Arctic islands north of Norway, in a case that could decide who has the right to explore for oil and minerals in the region.At stake is whether EU vessels have the right to catch snow crab…

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