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Solstad, Ocean Installer firm up Normand Vision deal
Aug. 14, 2020

Solstad, Ocean Installer firm up Normand Vision deal

Solstad Offshore (Norwegian offshore service company) has secured a contract from subsea contractor Ocean Installer for the Normand Vision high-capacity construction support vessel which is capable of carrying out the installation of subsea structures, umbilicals, risers and flowlines with a length of 157cm. It is equipped with a 3,000t underdeck carousel and a 150t vertical lay spread system. The contract starts in the first quarter of next year.

DOF Subsea secures new Asia-Pacific contracts
Aug. 11, 2020

DOF Subsea secures new Asia-Pacific contracts

Norwegian firm DOF Subsea has secured two new contracts in the Asia-Pacific (APAC) region. The company has received an IMR services contract from Chevron Australia to support its North-West Shelf and nearshore subsea assets in Australia. DOF Subsea will provide Chevron with DP vessels, remotely operated underwater vehicles (ROVs), autonomous underwater vehicle (AUVs), and intervention, inspection, management and engineering services.

Remazel engineering gets Jotul FPSO upgrade contract
Aug. 7, 2020

Remazel engineering gets Jotul FPSO upgrade contract

Remazel engineering, an Italy based firm has secured a contract from Bluewater for work on the Jotun FPSO upgrade project. According to the contract, Remazel Engineering will supply the complete mooring and riser pull-in system for the FPSO. The contract includes the design and manufacturing of three windlasses of 250t and a single drum winch for riser pull in.

Neptune Energy makes major oil discovery at Dugong in North Sea
Aug. 5, 2020
Source: Reuters

Neptune Energy makes major oil discovery at Dugong in North Sea

Britain’s Neptune Energy and its partners have discovered oil at a jointly owned drilling license in the Norwegian part of the North Sea, and will now consider options for how to develop the find. The Dugong well is estimated to contain between 40 million and 120 million barrels of oil equivalent, making it the largest find off Norway so far this year.

Kvaerner bags $106M Hod platform order from Aker BP
June 11, 2020

Kvaerner bags $106M Hod platform order from Aker BP

Norwegian oil company Aker BP has ordered the topside and steel substructure from Kvaerner for the normally unmanned wellhead platform at the Hod field. This is the second project in the wellhead platform alliance, which was established between Aker BP, Kvaerner, ABB, and Aker Solutions. The contract has a value of approx. NOK 1 billion (USD 106 million) for Kvaerner.

Equinor, Shell, Total to invest in CCS project in Norway
May 19, 2020

Equinor, Shell, Total to invest in CCS project in Norway

Equinor, Total and Shell intend to set up a joint-venture company and initially invest close to NOK 6.9 billion (USD 682.3m/EUR 629.4m), with some 57% of the amount going to Norwegian contractors. Northern Lights is part of the Norwegian full-scale CCS project which will include capturing carbon dioxide (CO2) from up to two industrial plants.

Neptune Energy carries out "world's first" dual drilling subsea operation
May 14, 2020
Source: World Oil

Neptune Energy carries out "world's first" dual drilling subsea operation

Neptune Energy has conducted what is reportedly the “world’s first” dual drilling operation from an integrated subsea template structure at the Fenja field in the Norwegian North Sea. Neptune teams maximized the full capabilities of Seadrill’s West Phoenix drilling rig to drill two wellbores at the same time. This is a monumental step and can be adopted as a standard practice in the future.

Baltic's construction will start soon
May 4, 2020

Baltic's construction will start soon

Polish President Andrzej Duda has informed that the construction of Baltic, a new pipeline, will commence soon. This major gas pipeline from Norway will mark the independence of Poland from Russian gas. Its capacity is said to be 10 billion cubic meters of gas per year. Italian oilfield services major, Saipem who will take care of pipeline's construction said that the contract is worth $307 million.

DNV-GL approves Aker Solutions' carbon-capture technology
April 30, 2020
Source: World Oil

DNV-GL approves Aker Solutions' carbon-capture technology

Norwegian accredited registrar, DNV GL has approved Aker Solutions' carbon capture and heat recovery technology as qualified, paving the path for a full-scale demonstration project in Norway to eliminate carbon emissions at a cement plant. The post-combustion technology developed by Aker intends at capturing and liquefying 400,000 tons per year of the released carbon dioxide at the Norcem plant.

Coor lands contract extension from Equinor
April 2, 2020

Coor lands contract extension from Equinor

Sweden-based Coor has landed a contract extension from Norwegian energy major, Equinor for offshore facility management. The contract extension is a direct continuation of Coor's March 2015 contract. Coor has been delivering facility management services to five Statfjord and Snorre oil platforms for 5 years. The contract agreement is estimated to cost Equinor ~$19.8m each year and the latest extension will come into effect from July, 2020.

Equinor to cut $3 billion in the wake of COVID-19
March 26, 2020
Source: Reuters

Equinor to cut $3 billion in the wake of COVID-19

Norwegian oil major, Equinor has been aiming to cut around $3 billion in investments, exploration drilling and operating costs in order to navigate through coronavirus crisis and low oil prices. In a statement, Equinor affirmed that the new measures will allow its operations to be cash-flow neutral in 2020 at an average oil price of around $25 per barrel. Equinor has already terminated a $5 billion share buyback program.

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".

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