Statoil Suspends Another Rig Contract

Scarabeo 5. Photo: Statoil

Norwegian oil major Statoil has decided to suspend its contract for the semi-submersible drilling Scarabeo 5 due to overcapacity in its rig portfolio.  The suspension will take effect once Scarabeo 5 has completed drilling of a well on the Kristin field in the middle of August, and will last until 1 March 2016. “We regret the need to suspend Scarabeo 5, but we will … [Read more...]

Samsung Heavy Wins Johan Sverdrup Contracts

Johan Sverdrup rendering. Photo: Statoil

  South Korean shipbuilder Samsung Heavy Industries has been awarded an NOK 7 billion (US$890 million) contract from Statoil for the construction of the process and riser platforms for the Johan Sverdrup development project offshore Norway. The contract calls for the fabrication of the decks for both the processing platform and riser platform - two of of four … [Read more...]

Steel Cut for Johan Sverdrup, Norway’s Biggest Project

Johan Sverdrup rendering. Photo: Statoil

  Construction has begun on the first structure for the biggest and most expensive industrial project in Norway for decades to come - the development of the giant Johan Sverdrup offshore oil field. Statoil announced Monday that the first piece steel for the riser platform jacket was cut at the Kvaerner Verdal yard in Norway on June 29, marking the official start of … [Read more...]

Statoil Cancels Contract for COSL Pioneer

COSL Pioneer. Photo: COSL Drilling Europe

  Norwegian oil major Statoil says it has terminated its contract with the COSL Pioneer semi-submersible drilling rig some 13 months before the expiry date. In a statement, Statoil said COSL Pioneer has been suspended since 8 October 2014 and Statoil has not managed to find alternative activity for the rig. Statoil said in September that the COSL Pioneer would be … [Read more...]

Odfjell Drilling Wins Johan Sverdrup Drilling Contracts

Deepsea Atlantic. File Photo: Odjfell Drilling

OSLO, June 15 (Reuters) - Norwegian oil major Statoil has awarded rig firm Odfjell Drilling contracts worth up to $1.04 billion for work on the giant Johan Sverdrup field in the North Sea, Odfjell said on Monday. The Deepsea Atlantic drilling rig has won a three year contract worth $330 million for drilling production wells, with additional options to extend the work by up … [Read more...]

Statoil Sees Signs Of Gas Demand Recovery


by Nerijus Adomaitis, TROLL A PLATFORM, North Sea (Reuters) - Norwegian energy firm Statoil sees some signs of gas demand in Europe recovering after years of decline, particularly in Britain, its chief executive told Reuters on Tuesday. "For some years we have seen a reduction in the European gas consumption starting with the financial crisis, with coal substituting gas … [Read more...]

Norway’s Giant Johan Sverdrup Could Face Delays, Cost Overruns

johan sverdrup

OSLO, April 24 (Reuters) - The start of Norway's 2.3 billion barrel Johan Sverdrup oil field may be delayed and costs could exceed forecasts but the project could break even at about half of the current oil price, authorities said on Friday. The Norwegian Petroleum Directorate said the startup could be delayed by six months to mid-2020 and costs could run 10 billion … [Read more...]