Exclusives

Statoil, Johan Sverdrup, Eldar Sætre, North Sea, ONS, oil, offshore, Norway, costs

Development costs for Phase 1 of the project offshore Norway have fallen by 21%.

Shell, Gulf of Mexico, deepwater, divestment, Ben van Beurden, Fort Sumter

News of a deepwater Gulf of Mexico discovery is made as the company reports falling profits and growth priorities.

Golar LNG, Schlumberger, FLNG, OneLNG, JV, natural gas

The JV comes about six months after Golar and Schlumberger said they signed a memorandum of understanding.

The total oil in place in the Upper Portland pay has increased from 7.7 MMbbl per square mile to 22.9 MMbbl per square mile.

FID, Tengiz, Chevron, Kazakstan, gas, oil, production, sour gas, investment, billion

The final investment decision for the Tengiz expansion is the latest of several projects in recent weeks to receive financial commitments.

Deepwater International

Norway’s Polarcus has been hired to conduct a 3-D marine seismic survey offshore Egypt.

Various subsea equipment will be delivered throughout 2015 and 2016.

GE Oil & Gas has invested more than $20.5 million across its subsea manufacturing facilities in Montrose, Scotland, in a move to enhance its business’s test and assembly and manufacturing capabilities.

Ceona has successfully installed a 570-mt multiple pipelay vertical lay system (VLS) and twin 400-mt cranes onto its next-generation flagship asset, the Ceona Amazon.

Kosmos Energy is taking a fresh look at a handful of new and existing exploration prospects in frontier waters offshore Ireland, according to partner Europa Oil & Gas.

Exploration

Maersk said it would look for solutions for its oil and oil-related businesses, which are to be split from the main company either individually or in combination 'in the form of joint-ventures, mergers or listing.'

OMV was ready to swap a minority stake in either of the holding companies for its North Sea assets for about 25% in two areas of the Achimov Formation of Gazprom's Urengoy Field in Siberia, Reuters reported.

EnQuest Plc said it ended talks with Israeli conglomerate Delek Group Ltd. regarding a potential stake sale in an oil field in the North Sea, Reuters reported.

Perth and Dolphin are located in the prolific Moray Firth area of the UK Central North Sea, which contains significant oil fields such as Piper, Claymore and Tartan.

The Martin Linge oil field offshore Norway is expected to start production in early 2018.

Production

CEO Karl Johnny Hersvik said company is more interested in liquid exposure than gas exposure, and that high-value assets and operated assets where productivity can be increased are targeted, Reuters reported. 

Many eastern European countries and the U.S. have said the pipeline could limit supply routes and the energy security of the European Union, which gets a third of its gas from Russia.

Plans also include extracting carbon dioxide from the fields and transporting it via pipeline to the Žutica and Ivanić oil basins for use in INA’s EOR project.

 

Premier Oil also said it had agreed terms with a preferred bidder for its Pakistan operations, Reuters reported.

Economic Affairs Minister Henk Kamp said that 30 Bcm per year of production would occur only in "the coldest winter you would expect to see in 50 years," Reuters reported.

Subsea Engineering

After meeting in August, Turkish President Recep Tayyip Erdogan and Russian President Vladimir Putin hope to remove some barriers preventing the development of a number of joint projects, especially the planned Turkish Stream gas pipeline under the Black Sea. 

The Norwegian Petroleum Directorate is facilitating a competition in hopes of strengthening its technological expertise and capacity.

Subsea technology provider Forum Energy Technologies (UK) Ltd. has unveiled a deepwater test facility and received industry accreditation for the calibration laboratory at its new European Operational Centre in Aberdeen. 

The Irish government has offered 14 new licensing options in the Irish offshore following the conclusion of the 2015 Atlantic Margin Licensing Round.

Hansa Hydrocarbons has taken its first steps into the Danish offshore sector with the provisional award of two new licences in the country’s seventh licensing round.

Technology

Failed mediation between Industri Energi and the Norwegian Oil and Gas Association triggered the initial strike at the Norwegian units of Schlumberger, Halliburton, Baker Hughes, Oceaneering and Oceaneering Asset Integrity, Reuters reported.

Ineos has access to more than 1 million acres of land across England and Scotland containing shale gas deposits, but has yet to apply for a planning permit, Reuters reported.

A total of 335 workers at Schlumberger, Halliburton, Baker Hughes, Oceaneering Internationa and Oceaneering Asset Integrity were part of the initial round. The conflict will force oil firms to halt drilling of some wells on Norway's continental shelf.

Arctic Securities is the financial adviser and BA-HR law firm is the legal adviser. When the transaction closes, AKOFS will gain US$66 million net of investments in the JV.

Production at Groningen, Europe's largest gas field, has been cut in half over the past two years due to public safety concerns, Reuters reported.