Energy Ticker

16/04/2014

Preparing for the "next step" in the Arctic

Statoil now include a third Arctic-well in the summer's drilling program and is getting ready to "the next step" in the Arctic. Statoil will drill a third well in the northernmost exploration area on the Norwegian continental shelf, Hoop. The well is called Mercury and is located right next to the Wisting discovery. Austrian OMV, with Statoil as partner, found oil and gas in Wisting last year. The company has started drilling an appraisal well in the area and hope that they can find as much as 200-500 million barrels of oil and gas. That is the same amount that Statoil found in its Johan Castberg discovery in the Barents Sea. Mercury is scheduled to be drilled during the period May to September this year together with the northernmost wells ever drilled on the Norwegian continental shelf - Apollo and Atlantis.

Source: Aftenbladet.no
16/04/2014

RWE to supply natural gas to Ukraine

Germany's second-biggest power supplier said on Tuesday it will start gas deliveries to Ukraine as Russia threatens to cut off the country's supplies. RWE -- via its trading subsidiary RWE Supply & Trading -- is the first European supplier to commence gas deliveries to the Ukraine in 2014," the German group said in a statement. The deliveries are part of an existing five-year framework agreement -- signed in May 2012 -- that allows RWE to ship up 10 billion cubic meters of natural gas a year to Ukraine, but the gas supplies must be agreed on annually. Last year, RWE supplied about one billion cubic meters of gas to Ukraine. Earlier this month Russian Gazprom announced that they will raise the gas prices to Ukraine with more than a third. But Director of Gazprom told Reuters on Tuesday that they will continue to be a reliable supplier to Europe. Russia supplies 32 percent of the EU`s oil imports and about 30 percent of gas imports. The deliveries from Germany, to be transported to Ukraine via Poland, thus go the opposite way than what the gas stream usually does.

Source: Sysla.no
15/04/2014

Statoil plans major shale gas investment in Australia

Australia could be the next country to make it big in shale gas. While Statoil cuts costs in Norway, the company plans to invest about € 121 million in Australia over the next three years. According to figures from the U.S. Energy Information Administration (EIA) the technically recoverable shale gas resources in Australia will meet the country's own consumption of gas in 396 years. In Western Australia is what is considered the world's fifth largest shale gas reserves located. There are expected to be twice as much gas as there are offshore off the coast of Western Australia. Australia is seen as a country that already has well developed infrastructure. At the same time, the country is more politically stable than both Argentina and Russia. Statoil is one of the companies which will now invest in Australia, and plans to invest € 125 million. This year, Statoil will drill five wells. In 2015 and 2016, Statoil schedule to invest another € 79 million on exploration. The goal is to find 27.5 billion barrels of oil equivalent in the area.

Source: Aftenbladet.no
15/04/2014

Postpones development plan for Yme

Operator Talisman does not preclude the project ends up being shelved. The employees in the oil company were informed about the postponement during a general meeting last week. – We will now stop and look at the options we got. The plan is still to find a solution that is profitable, and thus enables us to develop the field, says Communications Director Grethe Elise Foldnes in Talisman Norway. In March 2013 Talisman and platform owner SBM Offshore decided that Yme should be shelved. Talisman has from the beginning said that the goal is to develop the field with another installation. The plan was that the concept for the new development would be selected no later than early in the second quarter. This decision has now been postponed indefinitely.

Source: Offshore.no

Press Contact


Verena Sattel
Communication Manager North Sea, Spokesperson

verena.sattel[at]wintershall.com