Energy Ticker


Det norske alerts major cuts

The combination of declining oil prices and challenging times for the industry are now forcing Det norske oljeselskap to make major cuts. In the fourth quarter of 2014, the company reported a negative result of 197 million dollars. According to CEO Karl Johnny Hersvik the company is working to improve the financial flexibility and make sure that the capital structure is as optimal as possible. – The declining oil prices and the challenging times affect the company and the way we work. As a result, we have started a program aiming to reduce costs by more than 100 million dollars in 2015, says Hersvik. Although, Hersvik underlines that Det norske has a constructive dialogue with its shareholders and ensures that the company will be able to finance their planned development projects.


Gazprom threatens to stop gas deliveries to Ukraine

Due to another conflict between Russia and Ukraine, Gazprom threaten to stop gas deliveries when the current agreement ends this Thursday. This is bad news for the rest of Europe as a major part of the gas European countries buys from Russia travels through Ukraine in pipelines. Ukraine’s state owned natural gas company Naftogaz blames Gazprom for not fulfilling prepaid gas supply orders and thereby breaking contractual terms. In the most recent agreement signed late in 2014, Gazprom was supposed to deliver 114 million cubic meters on February 22 and 23. Instead, Naftogaz says it received 47 million on Sunday and 39 million on Monday.


Aibel won Sverdrup contract worth NOK 8 billion

Tuesday this week, Statoil and Aibel signed a contract on behalf of the partnership on Johan Sverdrup for the construction of the drilling platform deck on Sverdrup. According to Statoil the contract has an estimated value of NOK 8 billion (€ 936 million). The signed agreement includes engineering, procurement and construction (EPC) of the platform deck. - “The Johan Sverdrup field is one of the biggest discoveries on the Norwegian shelf that will, for its entire lifetime, be a pillar for Norwegian industry and value creation for the Norwegian society. On behalf of the partnership we are looking forward to a close cooperation with Aibel in order to ensure a safe and efficient delivery of this project,” says Statoil’s Arne Sigve Nylund, executive vice president of Development & Production Norway.



Two companies sell shares in Norwegian Sea license

Rocksource has signed an agreement for the sale of a 10 percent stake in license PL 602 in the Norwegian Sea to Statoil. The license is located in the Vøring Basin, west of the Aasta Hansteen field. At the same time, Atlantic Petroleum sells a quarter of its 10 percent share in the same license to Statoil. The transaction is subject to regulatory approval. The current partnership in PL 602 consists of operator Statoil (30 percent), Centrica Norge AS (20 percent), Petoro AS (20 percent), Wintershall Norge AS (10 percent), Atlantic Petroleum (10 percent) and Rocksource (10 percent).


Press Contact

Verena Sattel
Communication Manager North Sea, Spokesperson