Statoil Agreement to Divest Norwegian Shelf Assets Closed

Monday, April 30, 2012

Statoil’s agreement to divest Norwegian Continental Shelf Assets to Centrica is closed.


The transaction following Statoil’s divestment and exit from several licenses on the Norwegian Continental Shelf (NCS) in November last year is now closed. The buyer was the UK based energy company and established NCS player Centrica and the consideration was USD 1.525 billion. An additional payment of up to US$100 million (£63 million) is contingent on future production performance of the Kvitebjørn assets.

 

Kvitebjørn / Valemon Area is a significant gas production/development hub in Norway. Statoil remains the operator of both fields.Heimdal Area: Statoil retains operatorship in Heimdal, but exit from Vale, Frigg Gamma Delta and Fulla. Heimdal is a key gas export hub in the Norwegian gas system with connections to the UK and to the continental European gas markets. Vale and Skirne fall outside Statoil’s strategic focus. The early-phase Fulla and Frigg Gamma Delta discoveries require significant focus and resources in order to commercialise them fully and are better suited  being held by a regionally focussed operator. The effective date of the transaction is 1 January 2012 and the consideration to be paid by Centrica is a post-tax amount of USD 1.625 billion, including a contingent consideration of USD 100 million. Lambert Energy Advisory Ltd were sole advisors to Statoil on this process.
 

Maritime Reporter August 2015 Digital Edition
FREE Maritime Reporter Subscription
Latest Maritime News    rss feeds

People & Company News

That’s Not Coming on Board!

There’s hardly anything that can’t be shipped in a container. However, for ethical reasons, Hapag-Lloyd refuses to transport certain goods.   Anyone who regularly transports goods for third parties,

US Navy Awards $22mln Waterfront Inspection Deal

The U.S. Navy has awarded a five-year, $22 million contract to Appledore Marine Engineering, a specialist focusing exclusively on the inspection and design of marine infrastructure,

Offshore Operators Can Simplify Safety Equipment Logistics

Safety equipment manufacturer VIKING Life-Saving Equipment said its Offshore Safety Agreements are providing relief for offshore operators seeking to ensure compliance

Contracts

US Navy Awards $22mln Waterfront Inspection Deal

The U.S. Navy has awarded a five-year, $22 million contract to Appledore Marine Engineering, a specialist focusing exclusively on the inspection and design of marine infrastructure,

Keppel Delivers Jackup to UMW-OG

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered UMW Naga 8, a KFELS B Class jackup rig, to Malaysia’s UMW Oil & Gas Corporation Berhad (UMW-OG).

Rolls-Royce to Design, Equip Canadian Stern Trawler

The shipbuilding company VARD Group AS in Norway has received an order from a Canadian company for a shrimp stern trawler to be designed and equipped by Rolls-Royce,

Offshore

Offshore Operators Can Simplify Safety Equipment Logistics

Safety equipment manufacturer VIKING Life-Saving Equipment said its Offshore Safety Agreements are providing relief for offshore operators seeking to ensure compliance

Keppel Delivers Jackup to UMW-OG

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered UMW Naga 8, a KFELS B Class jackup rig, to Malaysia’s UMW Oil & Gas Corporation Berhad (UMW-OG).

Subsea 7 Bags $150 million Offshore UK Contract Maersk

Offshore contractor Subsea 7 has been awarded a $150 million subsea, umbilical, riser and flowline (SURF) contract by Maersk Oil for the development of the Culzean field in the UK North Sea.

Finance

Dry Bulk Recovery Still a Long Way Off

The dry bulk shipping market will remain in recession due to contracting demand for iron ore and coal, and any recovery is not expected until 2017, according to

Egypt Picks Jordan LNG Cargo Winners

Egypt has picked Shell, Vitol and Trafigura in a tender to supply four cargoes of liquefied natural gas (LNG) via Jordan's Aqaba import terminal, trade sources said.

Cameroon Awards Kribi Deepwater Contract

Cameroon has awarded a contract for its Kribi port to a consortium led by French logistics group Necotrans, the two parties said. The deepwater port will allow

Energy

Keppel Delivers Jackup to UMW-OG

Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine (Keppel O&M) has delivered UMW Naga 8, a KFELS B Class jackup rig, to Malaysia’s UMW Oil & Gas Corporation Berhad (UMW-OG).

Rapid Oil Spill Response Vessel Launched

Western Canada Marine Response Corporation (WCMRC) launched their newest oil spill response vessel in Burrard Inlet. The boat, named after former employee George Penman,

Greek Coast Guard Seizes Weapons Ship Bound for Libya

Greek authorities have seized a freighter carrying an undeclared shipment of weapons en route from Turkey to Libya, coast guard officials said on Wednesday. A

News

Five Chinese Ships in Bering Sea as Obama Visits Alaska

Five Chinese Navy ships are sailing in international waters in the Bering Sea off Alaska, the Pentagon said on Wednesday, in an apparent first for China's military that came as U.

White House: No Threat from China Navy Ships in Bering Sea

The Pentagon has not detected any threatening activity from the Chinese navy vessels in the Bering Sea, the White House said on Wednesday.   "Based on their analysis

Recent Vessel Sales - August 2015

Vessel sales for August 2015 (as of September 1) as prepared by Shipping Intelligence, Inc., New York.   Date Reported - Vessel Name - DWT - Built - (Age)

 
 
Maritime Careers / Shipboard Positions Maritime Standards Naval Architecture Navigation Offshore Oil Pod Propulsion Port Authority Ship Electronics Ship Simulators Sonar
rss | archive | history | articles | privacy | contributors | top maritime news | about us | copyright | maritime magazines
maritime security news | shipbuilding news | maritime industry | shipping news | maritime reporting | workboats news | ship design | maritime business

Time taken: 0.6302 sec (2 req/sec)