Dicoveries of oil and gas on NCS may account for more than what was produced in 2014 (2015-01-28)
It was made 22 discoveries on the Norwegian shelf in 2014. Two of these were major discoveries, Arrow & arc and Alta, which together can hold up to 500 million bbls.. oe.
OPEC predicts oil price at 200 dollars/bbl while Goldman Sachs predicts 30 (2015-01-27)
Oil prices may rise up to 200 dollars a barrel if oil producers do not invest more in production of new oil and gas fields, said Abdalla El-Badri Monday. He is Secretary General of the Organization of Petroleum Exporting Countries (OPEC). However, Director Gary Cohn at Goldman Sachs Group, who is a former oil trader, says that the oil price is into a spiraling downfall and may reach 30 dollars/bbl.
-The fairytale of the Green Shift (2015-01-22)
Professor at University of Bergen attempts to bring reality into the energy debate.
Baker Hughes is reducing number of employees (2015-01-22)
Baker Hughes is planning to reduce its workforce by 7,000 employees worldwide. In Norway, where they have 1,400 employees, is likely that 10% are terminated.
The oil companies are offered 54 new production licenses offshore Norway (2015-01-21)
The predefined areas (TFO) were announced in 2014, and 47 companies submitted applications. 43 of these are now getting offers of production licenses. Of the 54 licenses 34 are in the North Sea, 16 in the Norwegian Sea and 4 in the Barents Sea.
Former student becomes head of ConocoPhillips in Norway and UK (2015-01-21)
Trond Erik Johansen is coming back to Norway from the top job for ConocoPhillips in Alaska to take over the top job at ConocoPhillips Norway and UK after Steinar Våge, who is moving to Houston. Trond Erik Johansen graduated from the department with a M.Sc. degree in petroleum engineering in 1986. He has also previously been head of ConocoPhillips Norway.
The 23rd concession round was announced today (2015-01-20)
The Ministry of Petroleum and Energy (MPE) has today announced 57 blocks / parts of blocks, divided into 3 in the Norwegian Sea and 54 in the Barents Sea. It is expected great interest for these, and especially for those in the Barents Sea. Government aims to award new production licenses in the first half of 2016.
Schlumberger cuts 9000 (2015-01-16)
Schlumberger is the world's largest oil services and assists oil companies worldwide. Now the management expects a significantly lower activity and downsizes comes as a direct result of this. Our former student Paul KKibsgård is CEO of Schlumberger.
Production numbers for December (2015-01-16)
NPD has published December figures, and the average daily production was 1.916 million barrels of oil, NGL and condensate, which is 45,000 barrels per day less than in November. Gas sales totaled 11.1 billion cubic meters (GSm3), which is 0.9 GSm3 more than in November.
Bente Nyland's summary of the offshore year of 2014 (2015-01-15)
NPD Director Bente Nyland presented today the annual summary of the past year. There are still large remaining resources on the Norwegian shelf, but cost reductions are necessary to ensure robust profitability in the long term. Her presentation can be downloaded from the link below.
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