Statoil News

The Central Azeri Platform. (Photo: Stuart Conway / BP)

25 More Years in the ACG Field

Statoil, together with co-venturers and the Azerbaijan Government sign amended and restated Azeri-Chirag-Deepwater Gunashli PSA.   The Azerbaijan Government and the State Oil Company of the Republic of Azerbaijan (SOCAR) together with BP, Statoil, Chevron, INPEX, ExxonMobil, TPAO, ITOCHU and ONGC Videsh today sign the amended and restated Azeri-Chirag-Deepwater Gunashli (ACG) Production Sharing Agreement (PSA) which will be effective until the end of 2049. The agreement was signed today in Baku and is now subject to ratification by the Parliament (Milli Majlis) of the Republic of Azerbaijan.

Aker Solutions Wins Troll FEED Contract With EPCI Option From Statoil

Aker Solutions said it has won a contract from Statoil for front end engineering and design of a module that will increase output at Troll, one of Norway's largest natural gas fields. The order includes an option for engineering, procurement, construction and installation of the module, which will receive and process gas from the Troll West field before it is exported to the onshore Kollsnes facility near Bergen in Norway. The module will be installed on the Troll A platform in the North Sea. "We're excited to start working on the next phase of this important development and look forward to

Statoil owns interests in several exploration, development and production licenses offshore Newfoundland, and has an office in St. John’s courtesy Statoil

Statoil Wins licence Bids in Offshore Canada

  Statoil and its partners were the successful bidders for six exploration licences in the Flemish Pass Basin, offshore Newfoundland, and two licences offshore Nova Scotia. The licences offshore Newfoundland total 1,466,918 hectares (14,670 km2), and are located in an area in proximity to the Statoil-operated Bay du Nord discovery. Statoil will operate five licences, and participate in one licence as a partner. The offshore Newfoundland licences awarded are as follows: NL15-01-02: Chevron 35% (operator); Statoil 35%; BG 30% (274,732 hectares) NL15-01-05: Statoil: 40%; Exxon Mobil 35%;

Image: Statoil

Statoil Farms Down in Angolan Pre-salt

Statoil has signed an agreement to farm down a 15% interest to WRG Angola Block 39 Limited in the Statoil-operated block 39 offshore Angola in the Kwanza pre-salt basin. WRG is a 50/50 joint venture comprising White Rose Energy Ventures and Genel Energy plc. “This is part of Statoil's active portfolio management. The farm-down reflects the attractiveness of Statoil’s acreage in Angola and having WRG onboard allows us to share exploration risk, while retaining a significant working interest. WRG brings technical experience to a challenging geological setting, and we look forward to a

Statoil acquires shareholding in Lundin Petroleum Courtesy Statoil

Statoil Acquires Minority Stakes in Lundin Petroleum

  Statoil ASA has acquired 37,101, 561 shares in Lundin Petroleum AB (publ.), corresponding to 11.93 percent of the shares and votes, at a total purchase price of approximately SEK 4.6 billion. The investment in Lundin Petroleum will increase Statoil’s indirect exposure to core assets on the Norwegian Continental Shelf (“NCS”). “We consider this a long term shareholding. The Norwegian Continental Shelf is the backbone of Statoil’s business, and this transaction indirectly strengthens our total share of the value creation from core, high value assets on the NCS

Image: Statoil

Statoil, Repsol, ExxonMobil Win Colombian Offshore License

Statoil announced today that it has been awarded interest in the COL4 license offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing Round, along with Respol and ExxonMobil. Statoil said it will hold 33.33% in the license, while Repsol will be the operator of the license and will hold 33.34% and ExxonMobil Exploration Colombia will hold 33.33%. The award is subject to the final approval of the National Hydrocarbons Agency of Colombia (ANH). “Deepwater offshore Colombia is virtually untested. The award of new acreage in this frontier area is in line with our exploration

Sheringham Shoal is located off the coast of Norfolk.(Photo Ole Jørgen Bratland)

Statoil increases Share in UK Offshore Wind

Statoil and Statkraft have signed a letter of intent that Statoil takes over as operator of the Sheringham Shoal Offshore Wind Farm from January 2017. Statoil will also through this deal increase its share in the Dogger Bank projects. Sheringham Shoal is one of the world’s 10 largest producing offshore wind farms providing renewable energy to up to 220 000 UK homes. Located off the coast of Norfolk, it has been in operation since 2012 and has a capacity of 317 MW. “Taking over the operatorship for Sheringham Shoal represents a milestone for Statoil, as our first operatorship during

Photographer: Øyvind Hagen/Statoil

Offshore Deepwater Rebound?

Statoil awarded licences in Mexico’s Deepwater round   Statoil was awarded blocks 1 and 3 in the Saline Basin in the Deepwater exploration tender in the Mexican Round 1.   The blocks cover an area of about 5,650 km2 (18,500 square miles) in the largely unexplored deepwater areas of the Saline Basin. Statoil will be the operator of blocks 1 and 3, at 33.4% equity, with partners BP and Total participating equally with the remaining equity.    The licences were awarded in a competitive bid round. A total of 10 deepwater blocks were on offer, with four in the Perdido Area

Image: AVEVA

AVEVA 3D Plant Design Solution for Statoil

AVEVA’s flagship, multidiscipline, 3D plant design solution defines a new strategy for Statoil   AVEVA has entered a multiyear agreement with Statoil ASA for AVEVA Everything3D (AVEVA E3D). The Norwegian Energy owner operator has selected AVEVA E3D to be its strategic 3D design software platform.   Following the migration to AVEVA E3D by a number of other companies, Statoil selected it as the natural upgrade of its existing design system, AVEVA PDMS. Statoil will benefit from improved design efficiency and AVEVA E3D’s simple migration from AVEVA PDMS, means there will be no

Nicholas Alan Maden, senior vice president for exploration in Statoil. (Photo Ole Jørgen Bratland)

Statoil to Explore Offshore Uruguay

Statoil Uruguay B.V. (Statoil) has agreed with Total E&P Uruguay B.V. (Total) to acquire 15% working interest in offshore exploration block 14 in Uruguay. This represents a new impact opportunity for Statoil and a new country entry. Block 14 is located in the Pelotas basin of the South Atlantic Ocean, approximately 200 kilometres off the coast of Uruguay. It covers an area of 6,690 square kilometres in water depths of 1,850 to 3,500 metres. Statoil has acquired 15% working interest from operator Total. This transaction is pending governmental approval. Total retains a 50 % working interest.

Barents Sea (Image: Statoil)

Statoil Denies Patent Infringement, Keeps Drilling in the Barents Sea

Norway's Statoil said on Monday it would keep drilling exploration wells in the Barents Sea using what it called "regular equipment" after a court upheld an injunction in a patent dispute over specialised drilling technology.   Statoil said the Stavanger court had lifted an injunction on the use of its Cap-X technology in the Blaaman well, where drilling was suspended earlier, but had upheld a ban on the four other Arctic wells planned to be drilled this year.   When presenting Cap-X last year, Statoil said it would help reduce drilling costs. Small Norwegian firm NeoDrill said

Photo courtesy of Statoil

Statoil Reports Success in Espírito Santo

Statoil has received formal approval to enter the São Bernardo discovery in Espírito Santo. The discovery further strengthens Statoil's belief in the oil potential in the basin. On March 19, Agência Nacional do Petróleo, Gás Natural e Biocombustíveis (ANP) approved Statoil’s acquisition of Vale SA’s 25% equity in the BM-ES-22A concession in the Espírito Santo basin offshore Brazil. The concession contains the São Bernardo oil discovery made in April 2013. The discovery strengthens Statoil’s position in the basin and the

Hywind Scotland illustration (Image: Statoil)

Statoil Green Lights Floating Wind Farm Project

Statoil has made the final investment decision to build the world’s first floating wind farm: The Hywind pilot park offshore Peterhead in Aberdeenshire, Scotland. The decision triggers investments of around NOK 2 billion, realizing a 60-70 percent cost reduction per MW from the Hywind demo project in Norway. Statoil will install a 30 MW wind turbine farm on floating structures at Buchan Deep, 25 kilometers offshore Peterhead, harnessing Scottish wind resources to provide renewable energy to the mainland. The wind farm will power around 20,000 households. Production start is expected in

Statoil Wins Offshore Wind Lease in New York

Just days after Deepwater Wind said its Block Island Wind Farm has begun delivering electricity into the New England region’s grid, Statoil reports that it has been declared the provisional winner of the U.S. government’s wind lease sale of 79,350 acres offshore New York.   Statoil will now have the opportunity to explore the potential development of an offshore wind farm to provide New York City and Long Island with a significant, long-term source of renewable electricity. Statoil submitted a winning bid of $42,469,725 during the online offshore wind auction concluded by the U.

(Jonathan Bachman/AP/Statoil)

Statoil May Stop Drilling in US Gulf of Mexico

Norway's Statoil is considering whether to end its costly search for oil and gas in the U.S. Gulf of Mexico, the company's exploration chief told financial daily Dagens Naeringsliv (DN) on Friday.   Statoil has been part of several discoveries in the region as a junior licence partner, but the company has failed to strike oil in the drilling campaigns it has operated, despite spending billions of dollars.   "Even if the fields we have are paying off, the Statoil-operated exploration campaign could so far be characterised as a failure," Tim Dodson told DN.   "We'll

Sleipner field North Sea. (Photo Øyvind Hagen  Statoil)

Statoil Completes Utgard Field Transaction(UK)

On 22 June 2016, Statoil and JX Nippon completed their previously announced transaction whereby Statoil has acquired JX Nippon’s 45% equity share in, and operatorship of, the UK licence for the Utgard field. Through this transaction Statoil now has a 100% interest in UK Continental Shelf licence P312 which, with Norwegian Continental Shelf licence PL046, comprises the Utgard field. Statoil previously acquired stakes in P312 from First Oil in October 2015 and Talisman Sinopec in December 2015. Statoil is the operator in PL046 with a 62% holding. A final investment decision for Utgard is

Songa Trym (Photo Kjetil Larsen - Statoil)

Statoil Cancels Songa Trym Rig Contract

  Statoil has decided to cancel the contract with Songa Trym, four months before the expiration of contract on 4 March 2016. Statoil has previously notified Songa Offshore that the rig would be suspended for a period, and Statoil has tried to find other assignments for the rig after the suspension period and up to the expiration of contract.   “We informed the supplier earlier in October about suspending the contract after the rig has completed the drilling operation on the Tavros well on the Visund field. Statoil has hoped for further activity in the remaining contract period

(Image: Statoil)

Heavy Wave Strikes Rig, Injures Three in the North Sea

At 5 pm on Wednesday December 30, Statoil and COSL were informed that three persons had been injured on the COSL Innovator when a heavy wave hit the rig. Statoil and COSL have mobilized their emergency response organizations.   The semi-submersible drilling rig COSL Innovator is under contract to Statoil on the Troll field in the North Sea, west of Bergen. The rig had been taken off the well due to heavy weather when the incident occurred. The wave has also caused damage to the rig's accommodation module. The injured persons have been flown to land by Sea King helicopter from the Norwegian

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