North Sea
Exploration & Production
Norway’s December Oil Output Hits 9-year High
Output from the giant Johan Sverdrup, which came onstream in late October, helped lift Norway’s December crude output by 4.3% from November and 17% year-on-year.
Trends
Energy A&D Transactions From The Week Of Jan. 15, 2020
Here’s a snapshot of energy deals from the past week including Kimbell’s acquisition of NGP-backed Springbok plus the closing of Parsley’s multibillion-dollar merger with Jagged Peak.
Discoveries
ConocoPhillips Hits Oil, Gas In North Sea
Drilled by the Leiv Eirkisson drilling rig about 10 km (6 miles) northwest of the Balder Field, wildcat well 25/7-8 S hit several oil- and gas-bearing intervals, the Norwegian Petroleum Directorate says.
Exploration & Production
Norway Sees Rapid Growth In Oil Output From 30-year Lows
Norway’s oil output will grow by 43% from 2019 to 2024 as new fields come onstream and older production facilities are upgraded, forecasts from the Norwegian Petroleum Directorate showed on Jan. 9.
Digital Oilfield
Interview: Driving Energy Innovation With Digital Twins
Kongsberg Digital expects its Dynamic Digital Twin technology to drive down costs and improve efficiencies for an oil major in the Norwegian North Sea.
Trends
A&D Transactions From The Week Of Jan. 8, 2020
Here’s a snapshot of recent energy deals including the sale of Shell’s remaining Haynesville position plus the closing of Callon’s $2.7 billion merger with Carrizo Oil & Gas.
Public Capital , Exploration & Production , Acquisitions & Divestitures
Premier Oil In $816 Million North Sea Buying Spree
Premier Oil said the North Sea deals with BP and Dana Petroleum would generate more than $1 billion in free cash flow by the end of 2023 and push its output.
Exploration & Production , Technology , Digital Oilfield
Unlocking Stranded Reserves With Unattended Installations
A digitally enabled floating production buoy concept provides opportunities to exploit marginal fields in the U.K. North Sea and farther afield.
Service Contracts
Sembcorp Marine Bags Two Offshore Platform Projects Valued Over S550 million
Sembcorp Marine will team up with North Oil Company (NOC) to fabricate two wellhead platforms for the NOC-operated Al Shaheen oil field, which will be bridge-linked to the field’s existing facilities.
Field Development
Norway’s Aker BP Starts Production At Valhall Flank West
The 5.5 billion crowns (US$600.38 million) development aims to produce about 60 million barrels of oil equivalent at a break-even price of $28.50 per barrel, Aker BP said.