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Cairn Energy to farm out Capricorn Norge unit
Nov. 29, 2019

Cairn Energy to farm out Capricorn Norge unit

Exploration and development firm, Cairn Energy has entered into an agreement to farm out its stakes in Capricorn Norge to Solveig Gas. The deal will fetch Cairn $100m, apart from the customary working capital adjustments, upon completion of the transaction. Capricorn Norge owns a 10% interest in the Nova field, where Wintershall Dea is the operator. Cairn intends to use the proceeds from the transaction to fund its ongoing business.

Dolphin Drilling secures semisub contract with Shell
Oct. 4, 2019
Source: World Oil

Dolphin Drilling secures semisub contract with Shell

Aberdeen-based contractor, Dolphin Drilling’s Borgland Dolphin semi-submersible drilling rig has landed more work from AS Norske Shell. Under the contract, Dolphin will provide rig support for drilling and completion operations on a gas producer well on the Knarr field. Work is slated for commencement in early 2020. The contractor will be working under the operator’s One Team system with integrated drilling and completions providers.

Exxon Mobil to farm out Norwegian assets to Var Energi
Sept. 28, 2019

Exxon Mobil to farm out Norwegian assets to Var Energi

Oil supermajor Exxon Mobil has reached an agreement with Var Energi to farm out its Norwegian oil and gas assets in a $4.5 billion deal. The deal will bring an end to Exxon’s upstream operations in Norway, where it has been present for more than a century. The $4.5 billion deal is part of Exxon’s divestment strategy to let go of $15 billion worth of nonstrategic assets by 2021.

Exxon signs exclusivity agreement with Var Energi
Sept. 7, 2019

Exxon signs exclusivity agreement with Var Energi

Oil supermajor ExxonMobil has confirmed that it has signed an exclusivity agreement with Var Energi. This agreement will enable further negotiations on the possible sale of Exxon's Norwegian upstream assets. But the oil giant has informed that the final aggrement is yet to be signed. ExxonMobil is ready to sell its stakes in 20 partner-operated fields. This decision has been taken two years after Exxon sold its operated assets.

Aker to bid for contract worth £5 billion
July 18, 2019
Source: Energy Voice

Aker to bid for contract worth £5 billion

The Norwegian engineering firm, Aker Solutions is bidding for contracts worth approximately £5 billion. And two-third of these contracts are for subsea jobs. In the first-half of the current fiscal year, the company won 74 front-end orders, one more than in the same period last year. Also, its revenue rose to 25% in the first half the year.

Eni receives E&P license in Ghana
July 4, 2019
Source: World Oil

Eni receives E&P license in Ghana

Norway's Eni (70%) and its partner Vitol (30%) has been awarded rights to Block WB03. The block is located in the prolific Tano basin, offshore Ghana. Apart from Vitol, the joint venture will have the Ghana National Petroleum Corporation (GNPC) and a local registered Company. Eni will be the operator of the license. This license will help Eni strengthen its presence in the country.

Equinor and OMV to work for Norway projects together
June 27, 2019
Source: Energy Voice

Equinor and OMV to work for Norway projects together

Austrian oil firm, OMV and Equinor have come together for offshore Norway projects. Both the companies will simultaneously work on the Wisting development in the Barents Sea. Also, they will work on the concept development for the Hades-Iris discovery. Equinor’s Nylund said, "It is important for us to create value and maintain activity on the Norwegian continental shelf for many decades ahead, in close cooperation with other players".

Prosafe to acquire Bermuda-based Floatel International
June 6, 2019
Source: Energy Voice

Prosafe to acquire Bermuda-based Floatel International

The Norwegian firm Prosafe has signed a deal to acquire Bermuda-based Floatel International. Amid the need for consolidation in the market facing overcapacity, Prosafe will create the “world’s largest” offshore accommodation company at Floatel. The value of the deal is undisclosed yet and the new company will be named as Prosafe SE. Following the deal’s completion by Q3, Prosafe shareholders will own 55% shares, with Floatel shareholders owning 45%.

Increasing ‘significance’ of UK for Equinor
June 6, 2019
Source: Energy Voice

Increasing ‘significance’ of UK for Equinor

According to the executives at the Norwegian energy giant, UK’s significance is increasing for Equinor owing to landmark projects in the North Sea. “It is clearly one of the most important countries in our international portfolio. We have 30 countries in there, including three very significant ones – Norway, Brazil and the US”, said the Executive VP for development and production international at Equinor, Torgrim Reitan.

Equinor posts $1.54 billion in profits
May 4, 2019

Equinor posts $1.54 billion in profits

Energy major, Equinor yesterday released Q1 earnings, reporting $1.54 billion in profits. The Norwegian firm saw a 4% rise in profits from Q12018, as total equity production in the quarter rose to 2,178 million barrels of oil per day (Mboe/day). Conferring to the results, Equinor said that the results were impacted by lower prices, even though the level of production remained consistently high.

Partner Group to acquire CapeOmega
April 26, 2019

Partner Group to acquire CapeOmega

Partners Group, a Swiss private equity firm will acquire CapeOmega for nearly $1.34bn. CapeOmega is a Norwegian midstream infrastructure company which was incorporated in 2014. MD of Partners Group Private Infrastructure Europe said, "Partners Group welcomes the opportunity to partner with a well-respected and experienced management team to realise the associated infrastructure expansion potential for CapeOmega in one of Europe’s key natural gas supply hubs”.

8 NCS installations of Equinor get field life extension
March 15, 2019
Source: World Oil

8 NCS installations of Equinor get field life extension

Some of the installations of Equinor were scheduled for a shutdown in the near future. But, the Norwegian company has now received approval from the authorities for extending the life of eight installations on the NCS during the last three years. The life extension has been given to Gullfaks A, B and C (2036), Oseberg East (2031), Snorre A and B (2040), Norne (2036) and Åsgard A (2030).

GPFG’s green shift to affect Indian oil firms
March 13, 2019
Source: Livemint

GPFG’s green shift to affect Indian oil firms

Norway’s Government Pension Fund Global (GPFG) recent decision to pull off investment in global oil and gas exploration firms is expected to affect India’s oil and gas sector as well. The world’s largest sovereign wealth fund has so far made $7.39 billion-investment in Indian firms, out of which RIL ($485.19 million), ONGC ($108.74 million), Indian Oil ($61.6 million) and Oil India ($2.03 million) are some of the big names.

Rowan secures contract from Lundin Norway
Feb. 1, 2019
Source: World Oil

Rowan secures contract from Lundin Norway

Rowan Companies has secured a seven-well program for its N-class jack-up rig, Rowan Viking from Lundin Norway AS. The ultra-harsh environment rig will be deployed in Norway for a minimum duration of 265 days. Work under the contract is likely to begin in second-quarter/third-quarter 2020. The contract also has four additional one-well priced options.

TechnipFMC secures EPCI contract from Lundin
Jan. 31, 2019
Source: Energy Voice

TechnipFMC secures EPCI contract from Lundin

Lundin Norway AS has awarded a sizeable contract to EPC giant, TechnipFMC for the Luno II and Rolvsnes development in the North Sea. The contract requires TechnipFMC to deliver and install subsea equipment including umbilicals, flexible jumpers, rigid flowlines, and subsea production systems. The EPCI contract is estimated to be around £190-£380 million.

DNO’s Oman Block 8 license expires
Jan. 4, 2019
Source: World Oil

DNO’s Oman Block 8 license expires

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.

Equinor sells its two NCS assets
Dec. 29, 2018
Source: World Oil

Equinor sells its two NCS assets

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.

EY replaces KPMG as auditors to Equinor
Dec. 14, 2018
Source: Energy Voice

EY replaces KPMG as auditors to Equinor

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.

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