Newbuild Rig Transocean Norge Lands Six-Well Contract from Equinor with Options

Norwegian energy giant Equinor announced today it has awarded Transocean a six-well contract on the Norwegian continental shelf (NCS) for the newbuild harsh environment drilling rig Transocean Norge. Drilling start-up is scheduled for the summer of 2019 upon delivery of the rig.  The contract also includes options for drilling four additional wells and "is intended … [Read more...]

How the Oil Crisis Gave Norway’s Giant Field a $10 Billion Boost

By Mikael Holter (Bloomberg) -- Right before Norway’s biggest oil project in decades got the go-ahead in 2015, crude prices fell off a cliff. That turned out to be perfect timing. The crash forced desperate suppliers like platform builders and offshore drillers to cut their prices, allowing Equinor ASA and the other owners of the giant Johan Sverdrup field to trim … [Read more...]

Offshore Strike in Norway Expands to More Than 1,500 Workers

OSLO, July 15 (Reuters) - A Norwegian union for workers on offshore oil and gas drilling rigs stepped up a six-day strike on Monday that has slightly hit oil output after employers did not respond to demands for higher wages and pension benefits. The union is adding 900 workers to the strike, under a plan announced last week, after failing to win concessions before a … [Read more...]

Norway’s Wildcat Wells Get Best Results Since 2010 Bonanza

By Mikael Holter (Bloomberg) -- Oil companies in Norway have more to rejoice about than just higher crude prices: they’re now boasting the best exploration results in almost a decade. If they keep that pace up, explorers could find close to 1 billion barrels of new oil and gas this year for the first time since the landmark discovery of the giant Johan Sverdrup oil field in … [Read more...]

Some 2,500 Offshore Oil Workers in Norway Threaten to Strike

OSLO, June 21 (Reuters) - Some 2,250 workers on Norwegian offshore oil drilling rigs and in drilling and catering services on oil producing platforms could go on strike this summer after rejecting a proposed wage deal, the Safe labour union said on Thursday. Industri Energi, the largest labour union representing more than 4,000 drillers, last month agreed to a deal, while … [Read more...]