15147
Statoil Teams Up With Rivals for Arctic Exploration
Energy

Statoil Teams Up With Rivals for Arctic Exploration

Norway's Statoil has teamed up with Eni, Lundin Petroleum, OMV and GDF Suez to coordinate exploration activities in the Norwegian Arctic to reduce costs, it said on Tuesday.
The three-year deal, to be led by Statoil, will focus on the Barents Sea, particularly areas to be awarded next year in Norway's 23rd licensing round.
"Our goal is to increase coordination and develop cost-effective solutions for exploration in the Barents Sea in both the short and medium term," Statoil said. "We will collaborate with authorities, industry organizations and other relevant institutions to deliver on this."
Statoil announced delays to exploiting its Johan Castberg discoveries for a second time last year — ahead of the collapse in the price of crude — amid disappointment over exploration drilling aimed at improving the scale and potential profitability of the project. Johan Castberg, previously known as Skrugard and Havis prospects, lies in isolated and technically challenging waters 100km to the north of Statoil’s Snohvit gasfield in the Barents Sea, the first offshore development in the area.

 

Short URL : http://goo.gl/E0sblq

You can also read ...

Turkey Cuts Iran Oil Imports
Turkey’s biggest oil importer Tupras has cut back purchases of...
US Oil Industry Lobbies Against Russia Sanctions
The US oil and gas industry is lobbying against tighter...
Lack of Wind Jeopardizes UK Turbine Investments
It has been a stifling summer of disappointment for investors...
Tabriz Refinery Signs Tail Gas Agreement
Tabriz Oil Refining Company signed a $12 million agreement on...
Kuwaiti Crude Heading for Japan
Kuwait's newly launched Super Light crude oil is increasingly...
MAPNA Ready to Increase Installed Power Capacity
Iran's top engineering and energy enterprise MAPNA Group is...
ICOFC Intends to Boost Gas Condensate Output
The state-owned Iranian Central Oil Fields Company plans to...
EOR Operations Underway at North Yaran Oilfield
Operations are underway to increase oil production at North...

Trending

Googleplus