Energy Ticker

21/01/2015

Aker Solutions awarded contract on Sverdrup

Statoil has awarded Aker Solutions a major contract for the Johan Sverdrup field. The contract has a value of 4.5 billion. The contract includes engineering and procurement management for riser and process platform covered Johan Sverdrup field's first phase, in addition to interconnects and walkways for the entire field. The contract is valid until the scheduled start of production in 2019. Aker Solutions says that the work of Johan Sverdrup engineering at most will involve 1000 engineers. These will be distributed to engineering offices at Fornebu, London and Mumbai.

Source: Tu.no
20/01/2015

Sundtoft redefines Arctic ice edge

According to the Minister of Climate and Environment, Tine Sundtoft, Norway has set a new definition on where the edge of the Arctic lies. Sundtoft says the ice edged has been retreating for years and is now outside areas being considered for oil and gas exploration. A debate over the limit of the ice edge has delayed the launch of the new licensing round as some political parties argued that ice could in extreme cases reach into future exploration blocks, creating a safety hazard. Sundtoft said previous definitions have been based on data collected between 1967 and 1989, while the new limits are based on data from 1984 to 2013.

Source: Offshore.no
20/01/2015

43 companies offered licenses in APA 2014

On Tuesday, offers were issued to 43 companies for 54 new production licenses on the Norwegian continental shelf. The offers were issued after the authorities evaluated applications from 47 companies in the APA 2014. Of the 54 production licenses, 34 are located in the North Sea, 16 in the Norwegian Sea and four in the Barents Sea. 17 of the production licenses are additional acreage to existing production licences. Five of the new licenses are divided stratigraphically and only apply to levels below/above a defined stratigraphic boundary. - We had record number of applications for additional acreage this year. We are pleased that the oil companies still see the potential in the Norwegian shelf and are investing heavily in mature areas. The interest was greatest for areas in the central part of the North Sea and Norwegian Sea, e.g. as a consequence of discoveries 6406/12-3 S (Pil) and 6406/12-3 A (Bue) in the Norwegian Sea. The companies have generally all delivered high-quality applications, says Sissel Eriksen, director of exploration in the Norwegian Petroleum Directorate.

Source: Npd.no
15/01/2015

- Luckily, we have Johan Sverdrup

The Norwegian Petroleum Directorate (NPD) has released revised figures for investments on the NCS over the coming years. Until 2020, the NPD estimate a cut in investments of NOK 175 billion (€ 20 billion). This prognosis is based on figures collected before the latest fall in the oil price, and based on an oil price of USD 60-70. - Consequently, the fall in investments could be even stronger, particularly if the oil price should stay below USD 50, Bente Nyland says. Analysts in DNB say that “luckily, “we have Johan Sverdrup”. - Without this one, major development, the fall in investments would be twice as much as the NPD predicts, says chief economist, Kjersti Haugland. Her colleague, Torbjørn Kjuus, says that globally, they expect oil investments to come down by USD 200 billion. Nyland, however, maintains a degree of optimism, as she predicts that the industry will come out of this downturn leaner and fitter, and thus secure a profitable industry for years to come.

Source: E24.no

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Verena Sattel
Communication Manager North Sea, Spokesperson

verena.sattel[at]wintershall.com