As a daily consumer of energy, I've been selfishly happy about the lower fuel prices of late. Low gas prices are good - at least that's what I thought. And then last week, gCaptain sent me to Oslo to attend the Subsea Valley Conference and Expo, and I learned that low fuel prices are also very bad. For those of you not paying attention (and until last week I was one of … [Read more...]
Statoil Submits Record Breaking $10 Billion Deep Water Development Plan
Located in the cold Norwegian waters north of the Arctic circle in waters 1300 meters deep, a huge spar platform named the Aasta Hansteen will be installed in the coming years, and will be the first of its kind on the Norwegian Continental Shelf (NCS). The Aasta Hansteen "spar" is a floating installation consisting of a vertical column moored to the seabed. The … [Read more...]
Statoil Threatens to Shut Down the Entire Norwegian Continental Shelf
STOCKHOLM--Oil and gas giant Statoil ASA (STO, STL.OS) and other companies represented by Norway's Oil Industry Association have threatened to lock out workers and shut down production on the Norwegian continental shelf starting Tuesday in hopes of forcing an end to a crippling 12-day strike that has already put upward pressure on oil prices and crimped revenue. Oil … [Read more...]