Petoro Company News
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Norway's Parliament Approves Plan for Arctic Oilfield
Monday, June 11, 2018 Norway's parliament gave a green light for Equinor's 47.2 billion Norwegian crown ($5.85 billion) plan to develop the Johan Castberg oilfield in the Arctic Barents Sea.
Iceland's Oil Dream in Peril as China, Norway Give Up Last Block
Tuesday, January 23, 2018 Iceland's hope of finding oil offshore its coast is fading.
Aker Solutions Secures Johan Sverdrup Phase 2 FEED Contract
Tuesday, March 21, 2017 Aker Solutions secures a front-end engineering and design (FEED) contract from Statoil for the second phase of the Johan Sverdrup development offshore Norway.
NPD Grants Consent for the Expansion of Nyhamna Gas Plant
Friday, February 10, 2017 The Norwegian Petroleum Directorate grants consent for the expansion of the gas plant at Nyhamna, which will allow the Ormen Lange field in the Norwegian Sea to increase production.
Statoil Granted North Sea Drilling Permit by NPD
Wednesday, December 21, 2016 The Norwegian Petroleum Directorate has granted Statoil Petroleum AS a drilling permit for well 16/2-22 S, located offshore Norway.
OMV Says Wisting Arctic Discovery May Exceed 1B Barrels
Thursday, November 17, 2016 OMV's Wisting discovery in the Barents Sea could contain more than 1 billion barrels of oil equivalents, potentially making it the largest find in the Norwegian Arctic so far.
NPD Grants Statoil Lifetime Extension for Gullfaks B
Thursday, August 25, 2016 The NPD grants Statoil permission to use the B platform on the Gullfaks field in the North Sea until January 1, 2036, which corresponds to the length of the production license.
NPD Grants Wintershall Drilling Permit Offshore Norway
Tuesday, August 09, 2016 The Norwegian Petroleum Directorate grants Wintershall Norge AS a drilling permit for well 35/11-20 B, located in production license 248 F.
Western Europe's Top Oil Producer Has a Surprise for Markets
Monday, August 08, 2016 For Norway, the collapse in crude prices has a silver lining: output has exceeded expectations every month for the past two years.
Rosenberg Secures Fabrication Contract for Johan Sverdrup
Friday, June 03, 2016 Rosenberg WorleyParsons AS secures a contract for the fabrication of three bridges and two flare towers for the Johan Sverdrup project.
NPD Grants Wintershall Drilling Permit for North Sea Well
Friday, May 13, 2016 The Norwegian Petroleum Directorate grants Wintershall Norge AS a drilling permit for wellbore 35/11-19 S, located in production license 248 F in the North Sea.
Lundin Petroleum Q1 Beats Forecast, Raises Sverdrup Capacity Estimate
Wednesday, May 11, 2016 Lundin Petroleum raises output estimates for the first phase of the giant Johan Sverdrup field as it beats 1Q core earnings expectations.
OMV Increases Production in 1Q 2016
Thursday, April 21, 2016 OMV Aktiengesellschaft's hydrocarbon production in 1Q increases by 1% over the previous quarter to 312,000 barrels of oil equivalent per day.
Statoil Says to Cut Cost of Castberg Field by Another NOK 4B
Wednesday, April 20, 2016 Norwegian oil major Statoil plans to cut the estimated cost of developing its Arctic Johan Castberg oilfield by another $491.53 million, project director Erik Strand Tellefsen tells an energy conference.
OMV: Wisting Central II Achieves 5,000 Bopd Flow Rate
Wednesday, April 06, 2016 The Wisting Central II horizontal appraisal well in the Barents Sea achieves flow rates of over 5,000 barrels of oil equivalent per day.
Royal Boskalis Awarded Johan Sverdrup Services Contract
Friday, April 01, 2016 Royal Boskalis Westminster N.V. secures a contract by Samsung Heavy Industries for the transportation of topside modules for the Johan Sverdrup project, offshore Norway.
Aker to Deliver Johan Sverdrup Concept Study
Wednesday, February 10, 2016 Aker Solutions will work on a concept study for a new processing platform for future phases of the Statoil-operated Johan Sverdrup North Sea field.
Faroe Petroleum: Drilling Begins at Kvalross Well
Tuesday, January 12, 2016 Drilling commences on the Kvalross exploration well 7224/2-1, which is located in PL611 in the Norwegian Barents Sea.
Statoil Submits Rare $940 Million Plan Amid Oil-Price Rout
Friday, December 18, 2015 Statoil is forging ahead with a $940 million project designed to squeeze more oil and gas out of the Oseberg area of the North Sea, a rare investment decision amid a collapse of crude prices.
Petoro: Cash Flow from Norway O&G SDFI Decreases YOY
Tuesday, November 03, 2015 Net cash flow from the Norwegian state's direct financial interest in oil and gas operations on the Norwegian Continental Shelf reduces by $234.73 million, to $1.99 billion, year on year in 3Q 2015.
Aibel Secures Johan Sverdrup Power Supply Contract
Thursday, October 15, 2015 Aibel secures a contract for the construction of a converter station at Haugsneset and required construction site work for land-based power supply to the Johan Sverdrup field.
FMC Kongsberg Secures Johan Sverdrup EPC Contract
Friday, September 18, 2015 FMC Kongsberg Subsea AS secures an EPC contract, worth an estimated $160 million, for subsea equipment for the Johan Sverdrup project.
Norway Approves Wintershall's Maria Oil Field Development
Friday, September 04, 2015 Norway approves Wintershall's plan to develop the Maria oil and gas field in the Norwegian Sea.
NPD Grants Statoil Drilling Permit in North Sea
Thursday, August 27, 2015 The Norwegian Petroleum Directorate grants Statoil Petroleum AS a drilling permit for well 25/11-28, located in the central part of the North Sea in production license 169.
First Phase of Johan Sverdrup Development Approved
Friday, August 21, 2015 The Norwegian Ministry of Petroleum and Energy approves the first phase of development for the Johan Sverdrup field.
Det Norske to Appeal Sverdrup Oilfield Ownership, 2Q Earnings Lag
Wednesday, July 15, 2015 Norway's Det norske oljeselskap plans to appeal a government decisions giving it a smaller stake in the giant Johan Sverdrup oilfield.
Norway Decides on Johan Sverdrup Ownership Interests
Thursday, July 02, 2015 The Norwegian government decides on how the Johan Sverdrup field will be split among its five owners.
Odfjell Drilling Wins North Sea Contracts Worth up to $1.04 Billion
Monday, June 15, 2015 Statoil awards rig firm Odfjell Drilling contracts worth up to $1.04 billion for work on the giant Johan Sverdrup field in the North Sea.
Wintershall Completes Takeover of Vega Field in the North Sea
Wednesday, March 04, 2015 Germany's Wintershall completes the takeover from Statoil of the operatorship of the Vega subsea oil and gas field offshore Norway.
NPD Processes Rutil Development Plan
Friday, January 09, 2015 The Norwegian Petroleum Directorate processes the plan for the development of the Rutil discovery in the Gullfaks Rimfaksdalen area of the North Sea.
NPD: Norway's Ormen Lange Appraisal Well Does Not Change Resource Estimate
Friday, November 14, 2014 Shell drilled an appraisal well on its Ormen Lange gas field in Norway and though it hit a large gas column, there is no basis to change the recoverable resource estimate, the Norwegian Petroleum Directorate says.
Statoil Finds up to 80M Barrels of Oil near Grane Field
Tuesday, October 21, 2014 Statoil says it has proved new oil resources of up to 80 million barrels of recoverable oil in the Norwegian North Sea near the Grane field.
Norway's Petoro: Oil Firms Must Drill More And Halve Costs
Thursday, May 08, 2014 Energy firms need to halve the costs of drilling for oil and gas off Norway and drill twice as many wells per year to prolong the country's oil and gas production, Petoro says.
Statoil Discovers up to 63M Barrels in Barents Sea
Friday, May 02, 2014 Statoil makes an oil and gas discovery of up to 63 million barrels at its Drivis prospect in the Barents Sea.
Statoil Discovers up to 75M Barrels at Valemon Nord
Friday, April 11, 2014 Statoil adds to its Valemon Unit area resources with a discovery of between 20 and 75 million barrels of gas and oil at its Valemon Nord prospect in the North Sea.
Statoil Spuds New Appraisal Well over Johan Sverdrup
Tuesday, March 04, 2014 Norway's Statoil begins drilling appraisal well 16/2-19 on the Johan Sverdrup discovery in the North Sea.
Debate over Langlitinden Discovery's Commercial Potential
Friday, February 21, 2014 There is a question mark over whether oil discovered at the Langlitinden well in the Barents Sea will prove economically recoverable.
Hydrocarbon Shows in Langlitinden Well in Barents Sea
Monday, February 10, 2014 Partners in the Langlitinden well in the Barents Sea say that core samples have identified hydrocarbon shows.
Det Norske Spuds Barents Sea Well
Tuesday, January 14, 2014 Det norske oljeselskap drills exploration well targeting the Langlitlinden prospect in the Barents Sea.
GE Supplies Subsea Production Systems for Troll
Monday, January 13, 2014 GE Oil & Gas is supplying Statoil Petroleum with its fifth generation SemStar5 Subsea Electronics Module to upgrade and extend the life of the subsea production control system for the Troll B field.
Kristin Gas Export Project Terminated
Thursday, January 09, 2014 Unsustainable project economics force partners to terminate the Kristin Gas Export Project.
Lundin Sees $8.2B Sverdrup Spending Estimate as Fair
Thursday, November 21, 2013 Lundin judges an $8.2-billion estimate for investments in the giant Johan Sverdrup field offshore Norway as fair.
Statoil Finds Gas at Ice Crystal Prospect
Monday, September 23, 2013 Statoil makes a gas discovery at its Ice Crystal prospect in the Barents Sea, although the firm had been seeking oil at the prospect.
Statoil Proves New Resources on its Gullfaks License
Friday, April 19, 2013 Statoil says that preliminary calculations indicate that a new discovery on the Gullfaks license in the Norwegian North Sea contains between 40 and 150 million recoverable barrels.
Wintershall Spuds Mjosa Well
Monday, April 15, 2013 Drilling starts on the Mjosa well, near the Linnorm discovery in the Norwegian Sea.
Johan Sverdrup Appraisal Well Finds Oil
Tuesday, April 09, 2013 Det norske oljeselskap reports that appraisal well 16/2-17S on the Johan Sverdrup discovery has recovered core samples confirming oil.
Statoil Starts Up Production at Skuld Field
Monday, March 18, 2013 Statoil starts up production at the Skuld field at in the Norwegian Sea.
Norway Makes License Offers as part of APA 2012
Tuesday, January 15, 2013 Norway sends 40 companies offers for 51 new production licenses as part of its Awards in Pre-defined Areas 2012 program.
Iceland Launches Hydrocarbons Drive With First E&P Permits
Friday, January 04, 2013 Iceland has issued its first licenses for O&G exploration and production as the island nation continues to rebuild an economy that was hit hard by the global financial crisis.
Statoil Platform Leak Had Potential to Be Major Accident-Safety Body
Thursday, December 20, 2012 A gas leak that occurred this spring on a platform operated by Norwegian oil and gas company Statoil had the "clear potential" to have been a serious incident.