Equinor, Aker BP, Vaar face rising project costs, Norway budget shows
The Norwegian government announced on Monday that Aker BP, Equinor and Vaar Energi had raised their estimates of costs for major oil and natural gas development projects in the Norwegian continental shelf.
Russia Leads E&P Race in Arctic Region
Russian and Norwegian exploration and production (E&P) operators have been expanding their operations in the Arctic continental shelf, which is estimated to hold vast deposits of hydrocarbons…
Drilling Activity Buoyant in Norway
The number of wells drilled could challenge all-time high levels by the end of the year in the Norwegian Continental Shelf (NCS), while global offshore exploration activity has been flat…
NPD Report on High North Offshore
Norwegian Petroleum Directorate (NPD), Norwegian government agency responsible for the regulation of the petroleum resources on the Norwegian continental shelf, has presented a report on…
Norway Production Costs Rising
Petroleum production costs on the Norwegian continental shelf rose in 2018 after falling for three consecutive years, state-owned oil firm Petoro said on Thursday.Cost cuts were high on…
Norway Cuts 2019 Oil Output Forecast
The Norwegian Petroleum Directorate (NPD)’s forecasts show that Norway's oil output in 2019 will be smaller than previously forecast and its lowest level in three decades, although it should…
Norway 2019 Oil Output Forecast Cut to 30-year Low
Norway's oil output in 2019 will be smaller than previously forecast and its lowest level in three decades, although it should rebound in the following years, the country's oil industry…
Ocean Installer Clinches Johan Castberg Deal
Norwegian subsea contractor Ocean Installer and Norwegian multinational energy company Equinor ASA have signed a contract that covers the floating production storage and offloading unit (FPSO) mooring installation…
Norway Postpones Decision on Arctic Oil Terminal
The Norwegian government has postponed a decision on whether to mandate the construction of an oil processing terminal near the Arctic tip of northern Europe until the third quarter of next year, it said on Friday.If built, the on
Johan Castberg Topside Construction Begins
Norwegian minister of petroleum and energy Kjell-Børge Freiberg cut the first sheet for the topside of the Johan Castberg floating production, storage and offloading unit (FPSO) at Kværner's…
Kvaerner Wins Sverdrup Jacket Number Four
Norway's Equinor has awarded a NOK 900 million ($107 million) contract to local contractor Kvaerner for delivery of the steel substructure for the Johan Sverdrup Phase 2 process platform.The engineering…
Equinor Finds More Oil in Arctic Field
Norwegian oil and gas firm Equinor has found more oil near its Johan Castberg field in the Arctic Barents Sea, the company said on Monday.The Skruis exploration well, drilled about 8 kilometers north of the original discovery…
Equinor Acquires 40% Stake in Rosebank Project
Equinor has signed an agreement to acquire Chevron’s 40 percent operated interest in the Rosebank project, one of the largest undeveloped fields on the U.K. Continental Shelf (UKCS). The…
Aker Solutions, Equinor Strengthen Collaboration
Aker Solutions has signed a strategic, global collaboration agreement with Equinor to ensure mutual and continuous improvement on current and future subsea projects within the domains of safety…
Lundin Petroleum Says Arctic Oil Test Points to Bigger Reservoir
Swedish oil firm Lundin Petroleum expects to increase its resource estimate for the Alta discovery in Norway's Arctic region following a successful two-month production test.Finding significant…
In Brazil, Equinor Aims to Repeat Norway's Oil Boom
Norway's Equinor will invest up to $15 billion in Brazil over the next 12 years to develop oil, gas and renewable energy sources, the company said on Wednesday.Coinciding with an expected…
Equinor to Boost Drilling to Extend Norwegian Shelf Life
Oil producer Equinor aims to boost the recovery rate from its Norwegian fields to well above the global average to extend production from the mature basin beyond 2030.Equinor announced plans on Tuesday to drill up to 3…
Equinor Looks to Cut More Costs at Giant North Sea Oilfield
Norway's Equinor sees scope to further reduce development costs at the Johan Sverdrup oilfield in the North Sea, as it looks to maximize the potential of what could be the last giant field…
Johan Castberg PDO Approved
The plan for development and operation of the Johan Castberg field in the Barents Sea was approved by the Norwegian Parliament on Monday, June 11. The plan will now be submitted to the…
Arctic Oil 'Undrillable' amid Global Warming -UN's Ex-climate Chief
An architect of the Paris climate agreement urged governments on Tuesday to halt oil exploration in the Arctic, saying drilling was not economical and warming threatened the environmentally fragile region.Christiana Figueres…
