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Oil & Gas

Statoil hits gas at the Snefrid Nord prospect

Norwegian operator Statoil has made a gas discovery in the Snefrid Nord prospect in the Norwegian Sea. The discovery well 6706/12-2 was drilled by Transocean Spitsbergen and proved a 105-metre gas column in the Nise Formation. Statoil has estimated the volumes discovered to be in the range of 31-57million barrels of oil equivalent.

Oil & Gas

ABB wins Johan Sverdrup contract

Technology giant ABB has won a $155million contract from Statoil to power the first phase of the Johan Sverdrup field development. The company was awarded the deal for land-based power supply to phase 1 of the North Sea field operations. The Johan Sverdrup oil field will be operated by land-based power supply and during its first phase of development, a system will be established for supplying power from shore to production start in 2019.


Statoil orders new emergency vessel for the Mariner field

Norwegian oil giant Statil has awarded a contract to Sentinel Marine to provide a new multi-role Emergency Response and Rescue Vessel (ERRV) to support operations on the Mariner field on the UK Continental Shelf (UKCS). Sentinel Marine is an Aberdeen-based company, owning and operating offshore support vessels in the oil and gas marine industry.

Oil & Gas

Statoil to drill Catcher and Mariner exploration wells in the Spring

Statoil is preparing to drill two UKCS wells in the Spring . . . one in the Catcher area of the Central North Sea and the other in the Northern North Sea immediately to the west of the company’s Mariner field. The Catcher prospect, known as Wall, is a sizeable target which, if the pre-drill estimate is achieved, could be the herald of a standalone development. The Mariner area prospect is known as Boatswain and could add around 40million barrels of recoverable oil (median case), so enhancing the economics of the current Mariner development. Moreover, it could open up a fairway to the west and offer the potential for further reserves upgrades.

Oil & Gas

Asco scoops Mariner field contract

Statoil has awarded the contracts for supply base and warehousing services for the Mariner field to Asco UK. The base and warehousing facility for Mariner will be operated by Asco from Peterhead, north of Aberdeen. The scope of the contract awarded includes the provision of supply base services, including personnel, local transportation, marine gas oil, quayside services and a nearby warehousing facility. Asco will carry out the services for the Mariner field under two five year contracts, anticipated to start during the first quarter of 2016. The contracts also include a pair of two year extension options.


Statoil’s Gunnar Breivik: “We will be here in 40 years’ time”

Statoil's Gunnar Breivik sounds confident as he makes the firm statement. But more than being confident, the managing director for Statoil Production UK is comfortable with the commitment. And rightly so. As the North Sea celebrates its 50th year, a fresh new generation of explorers has emerged eager to carry the torch for innovation. Statoil is at the forefront of the pack. Statoil has historically dominated the E&P scene on the North Sea's Norwegian divide. But the Norwegian giant is now looking to balance its board.

Oil & Gas

Production begins from Statoil Oseberg Delta 2 field

Statoil has started production from its Oseberg Delta 2 field in Norway. It is the tenth project in the company’s fast-track portfolio to be completed, with the total investment coming to slightly less than NOK7 billion. The field, which is tied back to the Oseberg field centre, has been developed using two subsea templates with capacity for a total of eight wells.

Oil & Gas

Norwegian Petroleum Directorate grants Statoil drilling permit

Statoil has been granted a drilling permit for well 6706/12-2 in the Norwegian North Sea by the Norwegian Petroleum Directorate (NPD). The well will be drilled from the Transocean Spitsbergen drilling facility. The drilling programme for well 6706/12-2 concerns the drilling of a wildcat well in production licence 218.

Oil & Gas

Statoil makes new Krafla discovery

Statoil has found more resources in the Krafla area of the North Sea in Norwegian waters . The company, along with PL035 partners, said the main Tarbert appraisal well and the small oil discovery in the Krafla North prospect in December has increased the “robustness” of the field development project. Statoil has completed a two-well programme in the Krafla area which is located 25kilometres southwest of Oseberg South in the North Sea.


Statoil deepens spending cuts as oil price rout saps profits

Statoil ASA deepened cost cuts and halted dividend growth as Norway’s biggest energy company struggles to withstand a plunge in oil prices. The company will raise spending cuts by 30% to $1.7 billion from 2016 and lower capital expenditure to $18 billion this year from earlier targeting $20 billion, the Stavanger-based company said. Statoil reported fourth-quarter net operating income of $1.2 billion, down from 43.9 billion kroner a year earlier. That missed an estimate of 26.3 billion kroner in a survey of analysts.

Oil & Gas

Eldar Saetre appointed as Statoil’s new chief executive

Statoil has appointed Eldar Saetre as its new chief executive following the departure of Helge Lund to BG Group last year. Mr Saetre has been acting as chief executive and president of the Norwegian company since last October. Statoil said his annual fixed salary will be 7.7 million NOK and Mr Saetre will participate in Statoil’s programs for annual variable pay and long term incentives, as previously established for the chief executive position.


GE and Statoil to collaborate on lower cost energy solutions

GE Oil and Gas are set to collaborate on more environmentally and cost efficient energy solutions. The companies said the joint technology focused programme would be aimed at driving an industrial response to some of the challenges facing global oil production including flaring, CO2 and methane emissions. It will focus on creating the right format for oil and shale gas production while reducing emissions.

Oil & Gas

Aker Solutions wins Johan Sverdrup contract

Statoil will sign an engineering contract with Aker Solutions worth NOK 4.5billion for the Johan Sverdrup development. The company said the agreement includes engineering and procurement management for the riser and processing platform topsides for phase one of the field, in addition to hook-up work and gangways for the entire field. Aker Solution has so far been responsible for the front-end engineering of all four platforms which constitute the field centre.

Oil & Gas

Statoil awarded interest in 15 licences

Statoil has been awarded interest in 15 licences on the Norwegian Continental Shelf (NCS). The awards were given in the 23rd licensing round by the government, and include eight as operator. The Awards in Predefined Areas (APAs) include 80% ownership and operatorship in PL783 and 20% ownership in PL782S west of Balder, and 50% ownership in PL803 - a new licence in the Tromsø basin.

Other News

OSM Offshore’s Aberdeen division lands Mariner FSU deal

Norwegian oil giant Statoil has awarded the management contract for the floating storage unit (FSU) for its £4billion-plus Mariner project in the UK North Sea to offshore service firm OSM Offshore Aberdeen. The value of the contract, which starts on February 1 and will last for five years, with three further option periods of two years each, was undisclosed. However, industry sources said it was a “significant”.

Oil & Gas

Statoil to extend life of Norne field to 2030

Statoil has revealed its ambition to extend the life of the Norne field to 2030. The field, which came on stream in 1997, was due to shut down last year having produced some 700 million barrels of oil equivalent. The recovery factor for the main Norne field today is 56.5% – a top result worldwide for production from subsea fields.

Oil & Gas

Scottish Secretary to meet with Statoil team

The Secretary of State for Scotland will discuss the impact of falling oil prices on a visit to Aberdeen to meet staff from Norwegian oil company Statoil. Alistair Carmichael said visiting the North East was a “high priority” during what he described as a “challenging time” for the sector. His visit comes after Prime Minister David Cameron pledged to support the North Sea oil and gas industry.


Statoil awards service contracts in Norway

Statoil has awarded a number of service contracts for seven of its bases in Norway worth an estimated NOK 5 billion. The company said contracts have been given to NorSea Group AS, Saga Fjordbase AS and Asco Norge AS. The agreements include terminal and warehouse services as well as storage and pipeline handling.