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Energy Ticker

08.07.2016

SAFE agrees on well service deal with NOGA

Yesterday, the union SAFE avoided strike for 600 members in well service. The union negotiated a general payment increase of NOK 3.100 (€ 330) with the Norwegian Oil and Gas Association (NOGA). Additionally, overtime payments increases by NOK 1 (€ 0,1). SAFE expressed that the moderate settlement reflects the challenging market situation.

 

Source: Offshore.no

08.07.2016

Statoil awarded large contract to Altus

Altus Intervention is awarded a framework agreement with Statoil for wireline services at 16 installations. The contract duration is ten years, including options, and has an estimated value of NOK 1.2 billion (€ 128 million). The agreement will commence on February 1, 2017. Altus is a subsidiary of Qinterra AS.

Source: Offshore.no

29.06.2016

IKM wins large Statoil contract

Statoil appoints IKM Testing a four-year contract with two additional options for four year. Services include chemical cleaning, cold cutting, hydro jetting and leak sealing on 24 offshore installations and 4 onshore facilities. IKM hopes that the contract will be worth NOK 1 – 2 billion (€ 107 – 214 million).

Source: offshore.no

 

24.06.2016

Brexit can affect Norwegian gas

Today, the oil price dropped due to Britain’s decision to leave the EU – the so-called Brexit. Experts do not predict a lasting decline in the oil price due to the Brexit. However, there is greater uncertainty for Norwegian gas, which is primarily delivered to countries in Europe. – It is difficult to predict how the economy in Europe will be effected by Britain’s action. If Europe is weakened, demand for Norwegian gas will be reduced, oil analyst in DNB markets, Torbjørn Kjus, said.

Source: Offshore.no

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Verena Sattel
Communication Manager North Sea, Spokesperson

verena.sattel[at]wintershall.com