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DNO Oman Block 8 Limited has given up operatorship and participation in Oman Block 8 to Sultanate of Oman's Ministry of Oil and Gas and state-owned Oman Oil Company Exploration and Production LLC, informed DNO ASA. DNO Oman Block 8 Limited is a subsidiary of DNO ASA. In the handover ceremony held at Muscat, DNO’s MD informed that Block 8 produced 35 MMbbl of oil.
Norway’s energy company, Equinor has completed the sale of its two non-core discoveries on the Norwegian Continental Shelf (NCS). Both the discoveries were announced in October 2018. The first sale worth $250 million, was of a 77.8% operated interest in the King Lear discovery to Aker BP. The second sale worth $220 million, was of 42.38% non-operated interests in the Tommeliten Unit (PL044 TA) and 30% in PL044 to PGNiG.
Norwegian energy major, Equinor has announced the replacement of accounting firm, KPMG with EY in 2019. Final decision with regard to EY’s appointment will be taken at Equinor’s Annual General Meeting in May, 2019. KPMG lost to EY following a competitive audit tender. KPMG will carry out Equinor’s audit for the current financial year. KPMG and EY are part of the ‘big four’ global auditing firms.
Houston-based Fairfield Geotechnologies has farmed out its Seismic Technologies business. The firm informed today that it entered into an agreement with Norway-based Magseis ASA. Fairfield’s Seismic Technologies business comprises of data acquisition, nodal and system sale & rental activities. Magseis will also get ownership of all shares in Fairfield's wholly-owned, WGP Group.
Aker Solutions has signed a huge subsea deal with CNOOC. Under this deal, which is worth more than £158 million, Aker will supply umbilicals and subsea production system for the Lingshui 17-2 gas field. This project is located almost 5000 feet deep and is CNOOC’s first project at this depth. The work scope includes connecting the subsea development to a new, semisubmersible platform and more than 930 miles of umbilicals.
Equinor has signed a framework agreement with Norway Rowan. The Rowan Stavanger jack-up rig has won a £17.7million contract for drilling work at Equinor’s Gurdrun field. Under the scope of the contract, the rig will drill two wells for five months. It has five extension options that are not included in the initial contract value. The framework agreement gives the operator exclusive rights to the rig.
Norwegian oil major, Equinor has entered into an agreement to farm out its non-operated interests in the Tommeliten discovery to PGNiG. The Tommeliten field, containing gas/condensate, was discovered in 1976. This $220 million transaction follows the recent sale of Equinor’s King Lear discovery to Aker BP. Equinor will also divest its 30% stakes in another block of acreage. ConocoPhillips is the operator of both the blocks.
BASF-owned Wintershall has received green light to go ahead with drilling operations at the Marisko Prospect in the Norwegian Sea. Wintershall will deploy Transocean Spitsbergen rig for carrying out the drilling process on the prospect. Operations at the prospect are expected to last 61 days. If a discovery is made, operations will continue for 93 days. Repsol, OMV and Equinor are stake holders of Marisko prospect where Wintershall is the operator.
China's state-owned CNPC yesterday agreed on collaborating with Norwegian energy major, Equinor for oil and gas exploration, renewables and carbon capture technology. The firms inked an MOU to explore opportunities in tapping unconventional gas resources in China, apart from partnering at global oil and gas projects. Relations between China and Norway had soured over the Norwegian Nobel Committee awarding its Peace Prize to jailed dissident Liu Xiaobo in 2010.
Oil supermajor, Chevron has become the first major oil and gas firm to leave the Norwegian continental shelf (NCS). Chevron is transferring its 20% interests in an exploration license in the Arctic to DNO. The Norwegian oil and energy ministry wrote that decision indicates “Chevron Norway shuts down its activities in Norway and leaves the NCS permanently”. A number of oil majors have edged down their presence in Norway.
DNO ASA is the oil and gas operator of Norway and has announced that the production at Peshkabir field of Iraq has increased up to 50,000 bopd. The company has informed that it has completed the 2018 target before time and below budget. Two wells have been completed recently, out of which Peshkabir-7 is producing over 10,000 bopd from nine Cretaceous zones.
Europe’s leading E&P Company, Lundin Petroleum will acquire Equinor’s 15% in the Norway’s license including the discovery of Luno II. The deal involves the transfer of 20% stake in the Rungne to Equinor. This acquisition will increase Lundin’s interest in PL359 to 65%. The transaction date has been decided as January, 2018 and completion is the matter of government approvals.
Offshore innovative solutions developer, Trendsetter Vulcan Offshore (TVO) has signed an agreement with Norway’s SubseaDesign AS. Under this agreement, TVO will give all the rights of marketing and commercialization of its patent Tethered BOP design to SubseaDesign. The BOP, which mitigates the challenges of wellhead fatigue and wellhead strength will be then used in Norwegian sector of the North Sea.
Neptune Energy yesterday completed the acquisition of VNG Norge. VNG AG sold the firm to Neptune this year in June. Neptune will see addition of three producing fields, two development projects and 42 licences to its portfolio. Neptune’s position will gain strength in the greater Njord area and it will acquire 30% operated interest in the Fenja development project.
The energy giant of Norway, Equinor AS has been given a drilling permit by the Norwegian Petroleum Directorate. This permit is for the well 7324/3-1, cf. Section 15 of the Resource Management Regulations. The energy major will be having 55% ownership interest and will work as the operator in the field. The drilling will be from the West Hercules, position 73°57'2,39" North og 24°41'04,86" East.
UK-based exploration firm, Faroe Petroleum was granted permit by the Norwegian Petroleum Directorate (NPD) to carry out drilling operations offshore Norway. The drilling program for well 30/6-30 pertains to the drilling of a wildcat well in production licence 825 in the North Sea. Faroe will deploy Transocean Arctic drilling rig on the well for the operation.
Norway’s energy major, Equinor Energy AS has been granted a drilling permit for a well by the Norwegian Petroleum Directorate. Well 6407/11-1 of Resource Management Regulations will be drilled from the drilling facility of the Deepsea Bergen. This will be the first well to be built under the production license 751 which was awarded on Feb. 7, 2014. Equinor will be the operator having 80% of the ownership interest.
The 22nd biennial Offshore North Seas (ONS) conference saw Christopher Hoftun from ASCO, Norway talk about the dawn of new culture of innovation in the oil and gas industry. As leaders from the industry gathered in ONS for a 4 day conference, the Digitalisation and innovation manager for ASCO Norway laid emphasis on the digital transformation of the offshore supply chain industry.