Posts filtered on Tag
CEO Eldar Saetre said the company was stepping up its cost-cutting program and reining in spending.
Given a choice, Statoil ASA and the other owners of the giant Johan Sverdrup oilfield would have preferred to avoid the collapse of crude prices that has upended the industry.
Company spokesman Jan-Erik Geirmo said the evacuees were taken to other oil fields as a precaution, and that 85 people remained on platforms in the Valhall field Thursday morning.
Statoil is studying the use of unmanned platforms, which are new to Norway but have been used in Denmark and the Netherlands, for other projects, including at the giant Johan Sverdrup field, Aasheim said.
The 57 blocks on offer include 34 in the Barents Sea southeast, the first new area to be opened to exploration in Norway since 1994.
Norway’s oil companies reduced their exploration-spending forecast for next year by 35 percent from the previous quarter’s estimate, and foresee a “sharp decline” in the number of offshore wells, Statistics Norway said.
Norway’s biggest oil explorer and producer is set to drill 16 wells in the country as an operator in 2015, down from 21 last year.
Statoil’s announcement comes two months after Royal Dutch Shell announced it would abandon its $7 billion Arctic drilling efforts in a neighboring part of the Chukchi Sea north of Alaska, after drilling a dry hole.
A carbon tax or cap-and-trade system in the U.S. — and globally — would serve the energy industry better than the current slate of piecemeal state and federal regulations, Shell Oil Co. President Marvin Odum said Tuesday at a University of Houston energy symposium on “Carbon Tax: Is It the Right Time?”
After installing its first large-capacity, operational wind turbine floating offshore in 2009, Statoil said the project costs have reduced by more than 60 percent.