Arctic
News
February 16, 2015
Norway's Petroleum Safety Authority has now given BP Norge consent for gas lift at Valhall IP.
News
February 16, 2015
KANFA, a subsidiary of Sevan Marine, has been awarded a LOA for the EPC contract for four process modules for the FPSO Yinson Production.
News
February 13, 2015
WASHINGTON, D.C. -- U.S. Sen. Lisa Murkowski, R-Alaska, introduced legislation that would allow limited oil and natural gas activity within the non-wilderness coastal plain of the Arctic National Wildlife Refuge (ANWR).
News
February 13, 2015
Statoil and its partners, on Feb.13, will submit the plan for development and operation (PDO) for Johan Sverdrup, phase one, to the Norwegian Ministry of Petroleum and Energy.
News
February 13, 2015
Eni Norge has entered into a contract with TOOLS for the provision of services and supplies to the Goliat FPSO, leading to a further buildup of activity for the supplier in Hammerfest.
News
January 30, 2015
HOUSTON -- The oil and gas industry’s leading magazine for upstream technology and activity, World Oil, forecasts a sharp drop in drilling, both in the U.S. and internationally, as a direct result of plunging crude oil prices. In its 89th annual forecast and review, World Oil predicts an average WTI oil price of $55.75/barrel (bbl), while Brent will be $58.80/bbl. A Henry Hub natural gas price of $3.35/MMBtu is expected.
News
January 16, 2015
ST. PETERSBURG, Russia -- Gazpromneft Sakhalin, a subsidiary of Gazprom Neft, has been awarded subsoil-use rights to two license blocks in the Russian Arctic -- the Severo-Zapadniy (North East) block, located on the Pechora Sea shelf, and the Heysovskiy block, located on the continental shelf of the Barents Sea.
News
January 15, 2015
SINGAPORE -- Keppel Singmarine, a wholly-owned subsidiary of Keppel Offshore & Marine, has secured a contract from New Orient Marine, a subsidiary of Luxembourg-based Maritime Construction Services, for an ice-class multi-purpose vessel worth about $211.95 million (S$265 million).
News
January 14, 2015
STOCKHOLM, Sweden (Bloomberg) -- Lundin Petroleum and Statoil ended talks on jointly building an oil terminal in Norway’s Arctic, dealing a blow to the nation’s hopes of creating a hub for Barents Sea fields in an effort to revive its falling output. Stockholm-based Lundin’s Alta and Gohta discoveries are too far from Statoil’s Johan Castberg deposits to warrant joint development, and the resource estimate for the Swedish explorer’s discoveries is too uncertain to commit to any investments in an onshore oil terminal or pipelines, said Ashley Heppenstall, its CEO.
News
January 13, 2015
EDINBURGH, United Kingdom -- Despite the dramatic fall in oil prices in the last quarter, Wood Mackenzie's annual review of Norway's upstream oil and gas sector shows that on the surface 2014 was business as usual for the country's buoyant upstream sector. Sustained high oil prices for the majority of 2014 ensured that exploration continued apace, capital spend cooled only a little, M&A activity was at record levels and production even increased for the first time in over a decade. However, the slump in oil prices towards the end of the year means that the outlook for 2015 is a different story, as Wood Mackenzie warns that cuts in exploration and development spend will be substantial -- and creating value from deals done in 2014 becomes more of a challenge.
News
January 08, 2015
OSLO, Norway (Bloomberg) -- Statoil ASA could be forced to delay its Johan Castberg project in Norway’s Arctic waters for a third time after oil prices dropped by more than half since June. “It remains to be seen whether we’re able to come up with a good enough solution within the timeframe that’s been set,” Eldar Saetre, Statoil’s acting CEO, said in an interview in Oslo. “There’s a situation that forces us to make tough prioritizations.”
News
December 23, 2014
PARIS (Bloomberg) -- Total SA and its partners will use a record 16 ice-breaking tankers to smash through floes en route to and from the Arctic’s biggest LNG development. They’re still looking for a way around a freeze in U.S. financing. With 22 wells drilled, and a runway and harbor built for the $27 billion project in Russia’s Yamal Peninsula, where temperatures can reach 50 degrees below zero Celsius, Total, OAO Novatek and China National Petroleum Corp. have little choice but to push ahead.
Article
November 2014
The Arctic region presents great opportunities and major challenges, both technical and political
Article
November 2014
ION has been designing and manufacturing seismic instrumentation for Arctic applications for over a quarter-century.
