Barents Sea

Statoil and ENI to rethink Castberg offshore development in Norway

Statoil to consider FPSO for Castberg (Skrugard-Havis) Since the Skrugard and Havis project has been renamed as Johan Castberg, some significant changes have happened to justify Statoil from Norway and its partners, Eni from Italy and Petoro from Norway, to rethink the conceptual design of the project into a floating, production, storage and offloading (FPSO) …

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In Scarborough, Browse, Stockman, Majors see FLNG to cut costs

ExxonMobil, Woodside, Statoil ready to board on FLNG Earlier this month, ExxonMobil and its partner BHP Billiton (BHP) unveiled  their project to introduce their first floating liquefied natural gas (FLNG) vessel as the remedy to stop the costs inflation of its Scarborough natural  project offshore Australia. A week later, the Australian company Woodside Petroleum (Woodside) …

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Statoil completed feasibility study on Skrugard and Havis in Barents Sea

Statoil prepares High North oil exploration in Norway  In February 2013, Statoil and its partners, Eni from Italy and Petoro from Norway, presented the conclusions of their feasibility study for the development of the Skrugard and Havis offshore oil fields in the Norwegian territorial waters of the Barents Sea.  The selected concept depends of course …

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Gazprom opens North Pole sea route with first LNG carrier

Gazprom first LNG shipment from Norway to Japan Gazprom prepared and implemented successfully the first shipment of liquefied natural gas (LNG) through the freezing Northern Sea Route (NSR) around the North Pole from Norway to Japan. Leaving the Port of Hammersfet in Norway on November 9th, the Ob River LNG carrier reached the Port of Tobata …

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Gazprom to think technology for new Shtokman partnership

Statoil’s withdrawal opens door to Gazprom for new partnership with other Majors Since Gazprom, Total and Statoil could not make the final investment decision (FID) in June 30th on Shtokman despite $1.5 billion capital expenditure already spent in the project, some major changes were expected in the project. Statoil‘s decision to withdraw from the project, …

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Petro Arctic

Definition Petro Arctic is a Norwegian association to promote the potential suppliers willing to participate to the development and operations of the offshore oil and gas projects in North Norway and the Barents Sea.  Comments Petro Arctic was created in 1997 to involve local companies in the Snøhvit LNG project. Since then the mission of Petro …

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Rosneft and Statoil sign for Barents & Okhotsk Seas Exploration

After ExxonMobil and ENI, Rosneft extends its domino strategy to Statoil Rosneft and Statoil signed a cooperation agreement to jointly explore offshore and onshore fields in the Russian sections The cooperation agreement also provides Rosneft with an opportunity to acquire interests in selected Statoil exploration licences and assets in the North Sea as well as …

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Rosneft and ENI sign pact for Barents & Black Seas exploration

Russian tax incentive unlock foreign investments The key factor that prompted the companies to sign the agreement was the steps taken by the Government of the Russian Federation to introduce tax incentives for offshore production, including cancelling export duties and introducing a reduced Mineral Extraction Tax rate of 5-15% depending on project complexity. The Russian Government also offered guarantees that the favourable tax regime will remain in …

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