Tag Archives: oil

Continued deliveries in turbulent markets

Statoil's strategy update, fourth quarter 2009 and preliminary results for 2009. Statoil today presents its fourth quarter results and its Strategy Update. Statoil's fourth quarter 2009 net operating income was NOK 33.5 billion, compared to NOK 37.8 billion in the fourth quarter of 2008. In 2009, net operating income was NOK 121.6 billion compared to NOK ...

Statoil awarded exploration licences

Tove Stuhr Sjøblom, Statoils senior vice president of exploration on the Norwegian continental shelf. (Photo: Hild Bjelland Vik) The Norwegian authorities awards in predefined areas in 2009 (TFO2009) constitute the seventh round since the inception of such mature area awards in 2003.   “We are very pleased with this year’s awards. The annual availability of acreage in mature areas on the Norwegian continental shelf has provided the industry with constancy and formed the basis for the good

Statoil has today been awarded shares in eight exploration licences on the Norwegian continental shelf. The company is operator on six of the licenses. The Norwegian authorities' awards in predefined areas in 2009 (TFO2009) constitute the seventh round since the inception of such mature area awards in 2003. “We are very pleased with this year’s awards. The ...

Russian-Norwegian cooperation project on safeguarding industrial activities in the Barents Sea concluded

Moscow: The Barents 2020 cooperation project on safeguarding petroleum activities in the Barents Sea was concluded today at a conference in Moscow. More than 100 Russian and Norwegian experts have worked together for close to three years on identifying common rules and standards for health, safety and the environment in the Barents Sea. Today they ...

APA 2009 – Awards

The Government has decided to offer 38 production licenses in the awards in predefined areas 2009 (APA 2009). - Today I am offering production licenses to 42 companies of which 19 companies are offered operatorships. APA 2009 is the seventh licensing round with focus on mature areas on the whole shelf. The industry’s continuing interest for ...

Statoil launch new biofuel in Norway

Statoil is the first company in Norway to offer 5 per cent bioethanol to general consumers. From January 2010 onwards 40 per cent of Statoil’s stations will be selling the new biofuel “Bensin 95”. The new biofuel will reduce carbon emissions by about 11,000 tonnes annually. All petrol driven vehicles can use Bensin 95 containing 5 per ...

Environmentally friendly drilling solutions in the US

The Discoverer Americas drill ship.

Statoil is the first operator in the US Gulf of Mexico to adopt the Riserless Mud Recovery (RMR) system that reduces discharges to sea. The environmentally friendly drilling solution has been used on the Discoverer Americas drill ship on the Statoil-operated Krakatoa prospect. "The system allows us to circulate the mud, reducing the total mud consumption and ...

Adjusted ownership split in West Qurna 2

Lukoil and Statoil initialized the contract with Iraqi authorities for the West Qurna 2 field. Lukoil and Statoil have agreed to adjust the ownership split, increasing Statoil’s share from 15 % to 25 %. Lukoil’s share is reduced to 75%. Lukoil and Statoil secured the winning bid on the West Qurna 2 field during the second ...

Norm prices for Norwegian crude oil 3rd quarter 2009

The Petroleum Price Board (PPB) has set Norm Prices for Norwegian crude oil lifted in the 3rd quarter of 2009. The Norm Prices are used as tax reference prices in the taxation of the crude oil producers on the Norwegian continental shelf and are set in arrears for every quarter. PPB has decided not to set ...