North Sea & Western Europe

Statoil plans to drill five to six wells in Arctic Barents Sea in 2018

November 28, 2017 | Drilling / Completions, Exploration / Discoveries, North Sea & Western Europe

London, UK | – Norwegian multinational oil and gas company and the world’s largest offshore operator, Statoil will continue to drill for oil in the Arctic Barents Sea next year even though its 2017 campaign was mostly disappointing, the company’s head of exploration told Reuters on Nov. 28. Statoil plans to drill between 25 and 30 wells in Norwegian waters in 2018. Of these wells five or six are expected in the Barents and the rest will be split between the North Sea and the …

Shell buys charging station firm in first electric vehicle deal

October 13, 2017 | Mergers, Acquisitions & JVs, North Sea & Western Europe, Products, Services & Techniques

Amsterdam, Netherland  | – Multinational oil giant,  Royal Dutch Shell Plc has agreed to buy Dutch-based NewMotion, the owner of one of Europe’s largest electric vehicle charging networks, marking the company’s first deal in electric mobility as demand for cleaner vehicles is expected to soar. Shell said NewMotion, which manages over 30,000 charging points for electric vehicles in Western Europe and offers access to thousands more, will operate in parallel to Shell’s program of rolling out fast charging points at its forecourts. “They’re complementary offers. …

Shell to exit upstream business in Ireland with $1.23 billion stake sale

July 12, 2017 | Asset Acquisitions & Divestitures, North Sea & Western Europe, Upstream

London, UK | –  Royal Dutch Shell is to sell its 45 percent stake in the Corrib gas venture to a subsidiary of Canada Pension Plan Investment Board for up to $1.23 billion, marking the oil company’s exit from the upstream business in Ireland. The deal includes an initial consideration of $947 million and additional payments of up to $285 million between 2018-2025, subject to gas price and production, Shell said in a statement on Wednesday. The transaction will result in an impairment charge of …

Wood Group wins Statoil concept and feasibility study contracts

June 12, 2017 | Company Operations, Contracts, North Sea & Western Europe

Aberdeen, UK | –  Wood Group has been awarded two new contracts by Statoil to deliver concept and feasibility studies to their Norwegian North Sea assets. Effective immediately, the company will deliver a topside concept study evaluating the tie in of Total’s Garantiana field development to Statoil’s Gullfaks B and Visund facilities. In addition, Wood Group will provide a feasibility study for Statoil’s Tampen oil pipeline, covering subsea pipelines and risers and topside modifications. The two contracts are awarded under an evergreen master services agreement …

Oil giant Shell plans to cut 90 jobs at its Scottish headquarters in Aberdeen

June 02, 2017 | Company Operations, Employment, North Sea & Western Europe

  Shell told staff on Thursday that the positions are expected to go by the end of 2017 London, UK | – British–Dutch multinational oil and gas company, Shell said the move is not connected to plans to sell off £3 billion of assets to North Sea rival Chrysaor. Shell is also cutting 380 jobs in Glasgow with the closure of its offices in the city. Steve Phimister, UK vice president for upstream operations, said: “We intend to reduce the size of the organisation by approximately 90 onshore …

British PM invites Saudi Aramco to list shares in London

April 05, 2017 | Economics & Markets, Middle East, North Sea & Western Europe

London, UK |  –  UK Prime Minister Theresa May pitched London as a listing destination for Saudi Aramco’s initial public offering during her trip to Saudi Arabia, a UK government official said, as she seeks to promote Britain as a financial centre after Brexit. May met Energy Minister Khalid Al-Falih, who also heads state-owned Saudi Arabian Oil Co, said the official, who asked not to be named as the meeting was private. London Stock Exchange Group CEO Xavier Rolet was also present at the meeting …

Shell sells Danish downstream business for $80 million

September 15, 2016 | Asset Acquisitions & Divestitures, North Sea & Western Europe

London, UK | – Shell Petroleum has made an exit from Denmark’s downstream sector after agreeing a sale of a business unit to a local company. The Anglo-Dutch supermajor has offloaded Dansk Shell to Dansk Olieselskab for around $80 million, including working capital. The sold company includes the 70,000-barrels-per-day Fredericia refinery as well as local trading and supply activities. “The divestment is consistent with Shell’s strategy to concentrate its downstream operations on areas where it can be most competitive,” Shell said. “The transaction includes long-term …

Brazil’s Petrobras forges partnership with Norway’s Statoil

August 31, 2016 | Mergers, Acquisitions & JVs, North Sea & Western Europe, South America

Rio de Janeiro, Brazil |  — Brazil’s state-controlled Petrobras and Norway’s Statoil agreed to a partnership that includes joint upstream bidding, the revival of mature offshore fields and natural gas projects. The new non-binding memorandum of understanding follows Statoil’s agreement to pay around $2.5billion for Petrobras’ 66pc operating stake in the BM-S-8 exploration block in the prolific Santos basin. The companies had first announced plans for a partnership at the same time. Brazil is expected to launch a sub-salt licensing round in 2017 covering interconnected …