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Petoro AS

Definition Petoro AS is a Norway State wholly-owned company in charge of the Norwegian Continental Shelf (NCS) oil and gas assets management  Comments Petoro AS (Petoro) is the licensee of the Norwegian State’s Direct Financial Interests (SDFI) representing the assets of the NCS, while Norway as a State is the owner of these assets. Petoro …

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Continental Shelf

Definition Continental Shelf  (CS) refers to the part of the seabed sloping gently between the coast and the deep ocean. Geographically and legally the definition of the Continental Shelf is different from the Exclusive Economic Zone (EEZ) Comments The Continental Shelf is the sub-sea extension of the continent where the waters are still shallow, between 150 …

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Technip and HHI win $660 million Aasta Hansteen (ex Luva) SPAR hull

OMV to replace ExxonMobil in Aasta Hansteen partnership with Statoil and ConocoPhillips Aasta Hansteen field was previously named Luva and is one of the largest field in the Norwegian Continental Shelf (NCS) with a development planned to cost some $5.6 billion (NOK 34 billion) of capital expenditure. Aasta Hansteen is the start of deepwater development in the Norwegian Sea and …

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