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Johan Sverdrup

Oil & Gas

Proserv wins £1.6million contract for Johan Sverdrup platform

Proserv has won a contract worth £1.6million to provide topside control equipment on Statoil’s Johan Sverdrup drilling platform. The company said the agreement will see it supplying Aibel with an hydraulic power unit (HPU) and three chemical injection plants to be used on the field. Proserv said it plans to make most of its international network with staff in Norway working in collaboration with their Dubai colleagues.

Oil & Gas

Statoil cuts Johan Sverdrup costs by 7%

Statoil has reduced the initial costs of developing the Johan Sverdrup oilfield in the North Sea by seven percent. The company has cut its estimate for the first phase of the development to 114 billion crowns ($13.42 billion) from 123 billion in nominal terms, its partner Det norske said in a statement. A spokesman said: “The updated estimate is showing reduced capital expenditures as a result of positive market response in contracts and purchase orders."

Oil & Gas

Kvaerner wins Johan Sverdrup contract

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

The first building block completed on the Johan Sverdrup field

The first piece of the Johan Sverdrup development has now been completed and installed in the North Sea. Statoil said the installation of the 280-tonne pre-drilling template was carried out by Heerema Marine Contractor’s crane vessel ‘Thialf’. Kjetel Digre, head of the Johan Sverdrup field development, said: “We have completed and installed the first piece of one of the largest industrial projects in Europe.

Oil & Gas

Det Norske appeals Johan Sverdrup plan

Norwegian oil firm Det Norske said it will appeal a government decision to give it a smaller stake in the Johan Sverdrup oilfield than it had been seeking. The company revealed their plans as it reported lower than expected second quarter earnings for 2015. Det Norske believes it should have been given a larger share than the percentage proposed by operator Statoil of 11.89%.

Oil & Gas

Norway baffles analysts by giving away 15 million barrels of oil

No one can accuse the Norwegian government of being greedy when it last week decided on the ownership stakes in the giant Johan Sverdrup oil discovery. After months of deliberation, the Petroleum and Energy Ministry’s decision meant it took away as much as 15 million barrels of oil from Petoro AS, the state-owned oil company. The other loser was Det Norske Oljeselskap ASA, which forced the government to arbiter after disagreeing with the field’s other partners. They include Statoil ASA, Lundin Petroleum AB and A.P. Moeller-Maersk A/S. The move to cut Det Norske’s stake, and in the process its own, was surprising since it could have approved the initial deal, said Kjetil Bakken, an analyst at Carnegie ASA. “That’s a bit odd,” he said in an interview Friday. “You could wonder if there’s an element of retribution here, or at least a very strong signal to the entire industry to please refrain from bringing this sort of dispute to the ministry.”

Oil & Gas

Norway cuts Det norske’s stake in Sverdrup field in North Sea

The Norwegian government has modified an original proposal on how to divide up stakes in the Johan Sverdrup field in the North Sea, giving Det norske a smaller stake than originally proposed, it said on Thursday. Sverdrup, Europe's costliest offshore energy project, contains up to 3 billion barrels of oil equivalent (boe) and could operate for 50 years. It is forecast to start production by the end of 2019. Four out of five shareholders, including operator Statoil, agreed in February on how to divide up the project, but Det norske disputed the agreement, asking for a government review.

Oil & Gas

OGUK Conference: Sturgeon plea over oil exploration

Nicola Sturgeon will today call on the UK Government to consult urgently on incentives to boost exploration in the North Sea. The First Minister will make the demand at the annual Oil and Gas UK Conference in Aberdeen. Figures show that North Sea exploration last year reached its lowest level in at least two decades, with 14 explorations wells drilled compared to 44 in 2008. The Scottish Government claims the Westminster Government has yet to deliver any follow up action after committing at the end of 2014 to further work on options for supporting exploration through the tax system.

Europe

Statoil awards 2H contract for Johan Sverdrup field

Statoil has awarded 2H Offshore a contract for analysis on the Johan Sverdrup field in the Norwegian sector of the North Sea. The company's work includes tieback conductor, platform conductor and surface riser engineering analysis. 2H had already conducted engineering studies for Statoil to support wellhead specification on the development.