field

Oil & Gas

Kvaerner wins Johan Sverdrup contract

11/09/2015

Statoil has awarded Kvaerner Verdal a contract win for the delivery of the steel jacket for the Johan Sverdrup drilling platform. It comes after the companies signed a letter of intent which focused on the importance of cooperation based around further standardisation and simplification of work. Weighing 22,500 tonnes, the drilling platform jacket will be the second largest of the jackets to be constructed during the first phase of the Johan Sverdrup project.

Oil & Gas

Noreco pays debt from sale of licences as it restructures finances

27/08/2015

Noreco (Norwegian Energy Company) said the sale of a number of licences has allowed the firm to repay some of its debt and interest. The company has been making moves to strengthen its finances with a restructuring proposal approved earlier this year. In its second quarter results for the year the firm, which has gone through a number of challenges in the past year, said it has made a partial repayment of NOK250million of debt and interest in the NOR10 bond this month.

Oil & Gas

Det Norske seeks 20 million barrels more of Sverdrup Field

23/07/2015

Det Norske Oljeselskap ASA is claiming as much as 20 million barrels more of the Johan Sverdrup oil field as it appeals a government decision that reduced its stake in the giant deposit offshore Norway. The Trondheim-based company asked the government to raise its stake to 12.23 percent from the 11.57 percent it was awarded in a July 1 ruling by the Petroleum and Energy Ministry, according to an appeal letter dated Tuesday obtained by Bloomberg. The field holds as much as 3 billion barrels of oil, meaning a successful appeal may result in an increase of 20 million barrels. “Det Norske asserts that the decision is invalid,” it said in the appeal. The ministry has misinterpreted the petroleum act and hasn’t provided sufficient justification for its decision, which constitutes a process error, the company said.

Oil & Gas

Technip wins €100million terminal contract in India

17/12/2014

Technip has won a €100million contract to build an onshore terminal in India as part of the intergrated development of the Vashishta and S1 fields. The award, from the ONGC (Oil and Natural Gas Corporation Limited), is one of the critical componenets in the development of the fields. The contract will include basic design, detailed engineering, procurement and fabrication of the new onshore terminal facilities which will be integrated into the existing terminal.

Oil & Gas

LGO spuds eighth Goudron well

Leni Oil and Gas (LGO) has confirmed its eighth Goudron-field well in Trinidad is ready for commissioning. Well GY-671 has reached a total measured depth of 3,598 metres, been electronically logged and cased for completion as a C-sand producer. A net oil pay interval of 244 feet has been recorded on the electric logs in the C-sand of GY-671 alongside two previously completed wells, GY-669 and GY-670.

Oil & Gas

Bad weather hampers work at oilfield

21/10/2014

Bad weather is continuing to hamper seismic recording by Greenfield Petroleum in the Gum Deniz oilfield in Azerbaijan. The company said conditions have affected work on a 3D survey over the field and the area recorded is now likely to drop to 100km due to the approaching winter season.