On April 21, Statoil ASA (NYSE: STO) said that it would participate in the three-year Barents Sea Exploration Collaboration (BaSEC) group with Eni Norge, Lundin Norway, OMV and GDF Suez SA (OTC: GDFZY). BaSEC will begin immediately.
Statoil and Eni Norge initiated BaSEC, and Statoil will lead the first phase.
The companies aim to find common solutions for operations in the Barents Sea, and contribute to high levels of safety and emergency response. Sharing data, cost-effective solutions, more collaboration and increased coordination will be emphasized.
The project will cover the whole Barents Sea with particular focus on areas in the 23rd licensing round, the company added.
Working groups for MetOcean, ice, environment and oil spill response, logistics and emergency preparedness, mobile drilling units and health and working environment will be established, and all companies will contribute to them, and the steering group.
Participating companies must have made discoveries in the Barents Sea and/or have two or more operated licenses north of 73 degrees north. The project will consider adding more participants after the awards in the 23rd licensing round.
GDF SUEZ will collaborate on solving operational tasks tied to Barents Sea exploration.
Recommended Reading
‘Unexpected’ JV to Move Permian NatGas to Gulf Coast LNG Terminals
2024-03-26 - A trio of midstream companies—Enbridge, Whitewater and MPLX—will work together to build infrastructure to transport Permian Basin natural gas to Gulf Coast LNG terminals.
Enbridge Closes First Utility Transaction with Dominion for $6.6B
2024-03-07 - Enbridge’s purchase of The East Ohio Gas Co. from Dominion is part of $14 billion in M&A the companies announced in September.
Pembina Cleared to Buy Enbridge's Pipeline, NGL JV Interests for $2.2B
2024-03-19 - Pembina Pipeline received a no-action letter from the Canadian Competition Bureau, meaning that the government will not challenge the company’s acquisition of Enbridge’s interest in a joint venture with the Alliance Pipeline and Aux Sable NGL fractionation facilities.
ONEOK CEO: ‘Huge Competitive Advantage’ to Upping Permian NGL Capacity
2024-03-27 - ONEOK is getting deeper into refined products and adding new crude pipelines through an $18.8 billion acquisition of Magellan Midstream. But the Tulsa company aims to capitalize on NGL output growth with expansion projects in the Permian and Rockies.
EIG’s MidOcean Energy Acquires 20% interest in Peru LNG
2024-02-08 - On top of acquiring a 20% interest in Peru LNG, MidOcean Energy is also in the process of acquiring interests in four Australian LNG projects.