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Equinor to extend Statfjord field life with 100 new wells

Equinor to extend Statfjord field life with 100 new wells

Equinor and its partners in Norway’s Statfjord area have identified and approved plans to extend production from the field towards 2040. Equinor has acquired 6,500,000 shares in Scatec Solar, corresponding to 5.2 percent of the shares. A new business plan will ensure even higher use of resources, extract more value from the field. The shares...

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Analysts see few surprises in 2020 as OPEC+ cuts trim surplus

Analysts see few surprises in 2020 as OPEC+ cuts trim surplus

Oil prices are likely to remain in check during 2020 as OPEC+ production cuts are offset by higher output from other countries. Oil prices were little changed on last Monday as Russia said an OPEC-led producer group may consider easing output cuts next year. The Trump administration on last Thursday renewed a waiver for companies...

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Saudi Aramco pitches itself as the low-carbon investors’ choice

Saudi Aramco pitches itself as the low-carbon investors’ choice

The world’s largest oil producer has pumped about 116 Bbbl of crude oil. The proposed joint venture with Air Products and ACWA Power will own and operate the Jazan Integrated Gasification Combined Cycle. The event runs through Thursday, is expected to draw more than 600 attendees. The giant fields below the kingdom’s desert and the...

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Aramco IPO retail offering fully covered with one day to go

Aramco IPO retail offering fully covered with one day to go

The retail tranche of Saudi Aramco’s initial public offering is fully covered with one day to go after 3.7 million investors applied. Saudi Aramco recently honored a number of local manufacturers distinguished for offering high-quality products. Saudi Aramco is participating in the 2019 Abu Dhabi International Petroleum Exhibition & Conference (ADIPEC). Company issued a prospectus...

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Equinor hopes for a dry well near Troll, for potential CO₂ storage

Equinor hopes for a dry well near Troll, for potential CO₂ storage

For the first time, an exploration well is being drilled in the North Sea where the objective is not to find oil or gas. New York State governor Andrew M. Cuomo announced Equinor’s Empire Wind. Equinor and Masdar have joined forces with ORE Catapult to share floating offshore wind data. The well is being drilled...

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Equinor retreats from frontier exploration in Norway’s Arctic

Equinor retreats from frontier exploration in Norway’s Arctic

Equinor will reduce its focus on the frontier areas of the Barents Sea in another blow to Norway’s ambition to build a new oil province in its Arctic region. Equinor has signed an agreement to divest to Repsol its 63% interest in. Equinor reports adjusted earnings of USD 2.59 billion and USD 1.08 billion after...

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Kongsberg Digital to digitalize Shell’s Nyhamna gas facility in Norway

Kongsberg Digital to digitalize Shell’s Nyhamna gas facility in Norway

Kongsberg Digital, a subsidiary of KONGSBERG, signed an agreement to digitalize the Nyhamna facility. KONGSBERG and MAN Energy Solutions have signed a Memorandum of Understanding. The company behind the advanced SeaCross navigation system for safe. The contract award includes the full SURF System including Production wells, Gas and Water Injection wells. Students at the Jiangsu...

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Dolphin Drilling lands semisub contract with Shell

Dolphin Drilling lands semisub contract with Shell

Global contractor Dolphin Drilling has secured further work for its Borgland Dolphin semi-submersible drilling rig. The oil rig has left a £50,000 cash donation. Olsen Energy ASA, has entered into a contract for the provision. The company has won a contract with AS Norske Shell in Norway to provide rig support. The majority lenders under...

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IPAA endorses Trump administration’s natural gas and oil production regulatory revision

IPAA endorses Trump administration’s natural gas and oil production regulatory revision

EPA’s announcement of changes from the Obama-era methane regulations. The IPA Freedom to Publish Committee (FtPC) is responsible for picking the shortlist and final winner. The Geneva-based International Publishers Association (IPA) launches its call. It including the change of the regulated emission from methane to volatile organic compounds (VOC). The International Publishers Association welcomes the...

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Saipem taps DNV GL for digital twin system

Saipem taps DNV GL for digital twin system

Saipem, the energy and infrastructure solution provider, is implementing DNV GL’s hull planned maintenance system. Saipem will establish a spool-base on Greenwood Island, Pascagoula, Mississippi. Saipem has been awarded new contracts in offshore drilling in Romania. A memorandum of understanding has been signed with Plambeck Emirates LLC for the development and construction. It building the...

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