Statoil Asa News

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

Governor Andrew M. Cuomo delivered his 2017 regional State of the State address at Farmingdale State College.  (Photo: Office of Governor Andrew Cuomo)

New York Seeks to Develop US' Biggest Offshore Wind Projects

. He said the area off the coast of Montauk could ultimately host up to 1,000 MW of offshore wind.   A second project would provide about 800 MW of offshore wind power in an area 17 miles south of the Rockaway Peninsula in Queens, the governor said.   A unit of Norwegian oil company Statoil ASA spent $42.5 million to win a federal auction to lease the area for wind development in December.   The governor said he called on NYSERDA to work with Statoil on the project. (Reporting by Scott DiSavino; Editing by Andrew Hay

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

Photo: Jan Arne Wold / Woldcam

Statoil Name Change Expected in May

Statoil ASA will vote on the proposal to change the company’s name, from Statoil ASA to Equinor ASA, at the company's annual general meeting on May 15.The company said in March it intends to change its name to reflect its move to become a broad energy company.The company expects to implement the name change from (and including) May 16, 2018. This entails that May 15, 2018 is expected to be the last day of trading on Oslo Børs under the ticker “STL”. From May 16, 2018 (inclusive), the company’s shares are expected to trade on Oslo Børs under the new ticker

Courtesy Saipem S.p.A.

Moody's Reviews Saipem's Rating

of floaters and 43% of jack-ups by the end of 2017, Saipem's fleet has a similar contracted picture to many in the offshore drilling industry. There have also been contract terminations, with TOTAL S.A. (Aa1 review for downgrade) terminating its lease of the Saipem 12000 drillship for convenience and Statoil ASA (Aa2 review for downgrade) suspending the lease for the Scarabeo 5 semi-submersible. In this context, several of Saipem's older floaters will find it challenging to re-contract in 2016-2017 and will likely have to be scrapped. On the land drilling side, although Moody's expects continued work

Synergi Pipeline software enables safe and efficient pipeline operations Photo DNV GL

Standardization for Cost Effective Pipeline Innovation - DNV GL

and improvement of these standards have paved the way for cost efficient offshore pipeline systems – a key contributor to value creation in Statoil's successful development and safe operation of pipeline networks," says Jostein Breivik, Chief Engineer Pipeline and Transport Technology, Statoil ASA DNV-OS-F101 provides firm guidance for design, construction and operation, which has made it the global leading standard primarily for offshore submarine pipelines. It has been used for many high profile pipeline projects ranging from South Stream in the Black Sea, through to Langeled and Polarled

STATOIL ASA Remotely Welded Retrofit Subsea Hot Tap Tee

OTC 2013 Spotlight On New Technology Awards

;  GE Oil & Gas – Deepwater BOP Blind Shear Ram     Reelwell as – Reelwell Drilling Method Riserless (RDM-R)     SBM Offshore – Drilling Riser Trip Saver     ShawCor Ltd. – Mobile Robotic Cutback System     STATOIL ASA – Remotely Welded Retrofit Subsea Hot Tap Tee     Superior Energy Services – Complete Automated Technology System (CATS)     Wärtsilä Corporation – Wärtsilä GasReformer     Welltec –Well Cutter   

Photo: GE

GE to Supply Turbomachinery to Statoil

personnel from both companies. Once a year, GE and Statoil’s CEOs also hold a management forum. Based in Stavanger, Norway, Statoil Petroleum AS explores, produces and transports oil and gas including petroleum and petroleum-derived products. Statoil Petroleum AS is a subsidiary of Statoil ASA. www.statoil.com www.ge.com

Aker and Statoil Cancel Cat B Contract

Aker Solutions ASA and Statoil ASA have cancelled a contract for delivery of a semi-submersible rig capable of year-round well-intervention services on the Norwegian continental shelf. The companies in April 2012 agreed Aker Solutions would build the Category B (Cat B) rig and use it to provide Statoil with a range of well-intervention and drilling services for an initial eight years, starting in 2015. The technology development needed to build the rig has since proven to be considerably more demanding than initially anticipated and the parties on June 24 mutually agreed to terminate the contract

Signing of agreement between GAC EnvironHull and Statoil at Statoil’s Headquarter in Stavanger, Norway. From left to right: Åshild Eltervåg, Nadia Nikmanesh, Elin Haave, Karl Ingvar Jorgensen and Robert Anderson. (Photo: Simon Doran)

Statoil Awards Hull Cleaning Contract to GAC

, as well as all local and regional environmental regulations. Residues and harmful marine growths captured during cleaning are disposed of in an environmentally-friendly manner instead of being discharged into the sea as done using traditional methods.   GAC EnvironHull’s agreement with Statoil ASA comes after the Norwegian-based company used HullWiper to clean the hull of one of its chartered vessels at Fujairah in the United Arab Emirates.   Launched in late 2013, GAC EnvironHull’s diver-free hull cleaning technology is now available in the Swedish port of Gothenburg, the

The Sandface valve is a permanently installed electronically actuated sleeve and is one of a range of tools in Omega Completion’s ReACT Technology offering

Omega Completion Technology Wins Statoil Contract

Independent well completion and intervention technology developer and manufacturer Omega Completion Technology has secured a completions framework contract with Statoil ASA. The contract awards Omega the right to supply its unique ReACT Technology (Remotely Activated Completion Technology) to all Statoil assets in the Norwegian continental shelf, totalling 35.  Omega delivered the first ReACT completion solution to Statoil 10 years ago and has provided completion equipment for more than 30 Statoil wells.   The initial contract period is for approximately two years with an option for an

Courtesy Technip

Technip Bags Statoil's Umbilical Supply Contract

Technip’s wholly-owned subsidiary Technip Umbilicals Ltd.(1) has been awarded a contract by Statoil ASA to supply the umbilical(2) to the Oseberg Vestflanken 2 field offshore Norway. This field is located approximately 8 kilometers North West of the Oseberg field center at block 30/9-30/6 on the Norwegian continental shelf, at water depths of 100 meters. The contract covers project management, engineering and manufacture of over 9 kilometers of static steel tube umbilical. The umbilical includes a large bore integrated service line and multiple power cables. Technip Umbilicals’

While FMC Technologies U.S.-based, it is strong, long-term player in Norwegian subsea sector. Image courtesy of FMC Technologies

MTR100: The Norway Way

much of its growth to its subsea project business, which saw revenues rise 32%. DOF’s EBITDA also saw an increase over the same period, rising roughly 9 percent to NOK 1.945 billion in 2013 compared to 1.788 billion in 2012. The group’s backlog entering 2014 was NOK 34 billion. Statoil ASA Founded in 1972 as the Norwegian State Oil Company, Statoil is an international energy company and true subsea pioneer with 40 years of experience in oil and gas production on the Norwegian continental shelf. The Norwegian government remains Statoil’s largest shareholder with approximately

Gro G. Haatvedt: Photo Statoil

Persistence Rewarded as Statoil Strike Energy-rich Barents Sea Source

Statoil ASA has together with its partners Eni Norge AS and Petoro AS made an oil and gas discovery in the Skavl prospect in PL532, close to Johan Castberg in the Barents Sea. Well 7220/7-2 S, drilled by the rig West Hercules, has proven a 22-metre gas column and a 23-metre oil column in the Jurassic Tubåen formation, and a 133-metre oil column in the Triassic Fruholmen formation. Statoil estimates the volumes in Skavl to be in the range of 20-50 million barrels of recoverable oil. "Statoil puts a lot of effort into proving additional oil resources in the Johan Castberg area in order to

Photo: ExxonMobil Canada

ExxonMobil's Canada Offshore Project Produces First Oil

.   The platform holds living quarters, drilling and production facilities and storage capacity for 1.2 million barrels of oil.   It is operated by Exxon's ExxonMobil Canada Properties, which holds a 35.5 percent stake. Other joint venture partners are Chevron Canada Ltd, Suncor Energy, Statoil ASA and Nalcor Energy, the Newfoundland and Labrador provincial energy corporation. (Reporting by Nia Williams; Editing by Susan Thomas

(Image: thyssenkrupp)

MUM's the Word: New UUV Takes Shape in Germany

a concept for electrical subsea power generation and storage based on non-nuclear air independent submarine propulsion technologies as well as a concept for a manned multipurpose submarine for arctic offshore operations,” Wehner said. “The latter project was conducted together with Statoil ASA and can be seen as the starting point to think about a new class of large unmanned underwater vehicles that now concluded in the MUM project.” thyssenkrupp is the project coordinator and will among other things develop the overall operating concept for MUM and translate it into a draft design

CEO Eldar Sætre Photo Statoil

Statoil Robust Performance Continues

financial results were affected by low oil and gas prices, extensive planned maintenance and expensed exploration wells from previous periods. We delivered solid operational performance with strong cost improvements and progress on project execution”, says Eldar Sætre, President and CEO of Statoil ASA. “Strict prioritisation and continued good results from our improvement programme allow us to further lower our 2016 capex and exploration guidance”, says Sætre. “Our financial position remains robust with a positive net cash flow in the quarter. We continue with

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