Magnus Joins Kvaerners Executive Team
Magnus takes up the position. Magnus is Norwegian and holds a MSc in Civil Engineering from the Norwegian University of Life Sciences. He comes from the position as Regional Business stream Director in Skanska Norway. From 2011 to 2014 Magnus was Project Director & Branch Manager for the Kashagan Hook-up project responsible for all Kvaerner activities and personnel in Kazakhstan. Sturla Magnus has almost 20 years of experience from large construction projects and corporate management in the international oil and gas and civil construction industry in Skanska, Aker Solutions, Kvaerner, Aker
Saipem: No Complaints about Kashagan Leaks
Italian oil industry services company Saipem said on Tuesday it had not received any complaint regarding pipes it laid for the giant Kashagan offshore oil field in Kazakhstan where production has been halted due to leaks in the network. Production at Kashagan, the world's biggest oil find in 35 years, started last September but was stopped in early October after gas leaks were found in the pipeline network. "Saipem laid the pipes, welded them and tested the welding before delivery in 2008," Chief Executive Umberto Vergine told reporters on the sidelines of Saipem's annual shareholders'
Statoil Reports Robust Q1
he would attend a high-profile St Petersburg economic forum in June as planned, as the firm had to assess the impact of the measures first. Oil firms have seen their profit margins decline due to a rise in costs as crude becomes more difficult to extract and several big projects, such as Kashagan in Kazakhstan, have spiralled out of control. Statoil was no exception in experiencing a squeeze in margins and in February said it would slash spending by $5 billion in 2014-2016, an 8 percent reduction from earlier expenditure plans, so it could pay more to shareholders. Shares
Kashagan Consortium: Oil Production Not Expected in 2014
A consortium developing Kazakhstan's huge Kashagan oilfield said on Monday it did not expect to produce oil in the offshore field this year due to leaking pipelines. "The current assessment, based on the results of an investigation, is that both the oil and the gas pipelines might have to be fully replaced," the consortium also said. The North Caspian Operating Company (NCOC) consortium includes Eni, Exxon Mobil, Royal Dutch Shell , China's CNPC, Japan's Inpex and Kazakh state-run KazMunaiGas. (Reporting by Raushan Nurshayeva; writing by Vladimir Soldatkin; Editing
February 2024
