Lundin News

A Norwegian naval officer was found guilty on Monday and sentenced to a two-month suspended jail sentence for negligence leading up to the 2018 collision between a warship he commanded and an oil tanker in which the military vessel sank.Building a replacement for the lost Helge Ingstad frigate would have cost up to 13 billion crowns ($1.24 billion), the armed forces estimated in a 2019 report.The early-morning crash between the Ingstad and the fully loaded Sola TS crude carrier near a major North Sea oil export terminal also triggered shutdowns of parts of Norway's petroleum production.

A Norwegian naval officer on Monday denied negligence leading up to the 2018 collision between a warship he commanded and an oil tanker in which the military vessel sank. Building a replacement for the lost Helge Ingstad frigate would cost up to 13 billion crowns ($1.3 billion), the armed forces estimated in a 2019 report. The early-morning crash between the Ingstad and the fully loaded Sola TS crude carrier near a major North Sea oil export terminal also triggered shutdowns of parts of Norway's petroleum production. There was no leak from the oil tanker.

A Norwegian naval officer stands trial on Monday accused of negligence that led to the 2018 collision between a warship he commanded and an oil tanker in which the military vessel sank. Building a replacement for the lost Helge Ingstad frigate would cost up to 13 billion crowns ($1.3 billion), the armed forces estimated in a 2019 report. The early-morning crash between the Ingstad and the fully loaded Sola TS crude carrier near a major North Sea oil export terminal also triggered shutdowns of parts of Norway's petroleum production. There was no leak from the oil tanker.

Norwegian offshore vessels owner Island Offshore said one of its ships is the first offshore vessel on the Norwegian shelf running on biofuel.This pilot program, run by Lundin Energy Norway on board Island Offshore's platform supply vessel (PSV) Island Crusader, has led to immediate and significant reductions in CO2 emissions and also proves that biogas can be used on liquefied natural gas (LNG) engines without modifications. The engine manufacturer Bergen Engines has previously…

Aker Solutions received a Letter of Intent (LOI) for a front-end engineering and design (FEED) contract from Equinor, for the FPSO for the Wisting field development in the Norwegian Barents Sea.Wisting is a greenfield development located in the Barents Sea, about 310 km from the Norwegian mainland. Equinor is the operator of the field (35%), with partners OMV Norge AS (25%), Petoro AS (20%), Idemitsu Petroleum Norge AS (10%) and Lundin Energy Norway AS (10%).The intended FEED contract includes an option for engineering, procurement, construction and integration (EPCI) of the topside for the FPSO. The scope of the FEED is to provide front-end design- and engineering for a circular floating production…

Siem Offshore said one of its dual fuel platform supply vessels (PSV) has been upgraded with a hybrid battery package, in line with the company’s goals to reduce its environmental footprint.The installation aboard the 2014-built VS 4411 DF Siem Symphony was conducted at Westcon’s yard on the Norwegian west coast during the second quarter, and the vessel has been assigned the Battery Power notation from DNV. Prior to the conversion, the 5,500-dwt vessel was already equipped to…

Crude oil loading at Equinor's Sture export terminal on Norway's west coast was interrupted on Thursday after activists from the Extinction Rebellion group breached the facility's safety zone, the company said.Equinor halted the loading of the TS Bergen Aframax vessel, but other operations were not affected, a company spokesperson said.Sture is a major export facility for crude, which arrives by pipeline from several offshore fields including Equinor's Oseberg, Lundin Energy's Edvard Grieg and Aker BP's Ivar Aasen, according to Equinor's website.Activists entered the terminal's safety zone wit

In January, Occidental Petroleum announced it had accomplished something no oil company had done before: It sold a shipload of crude that it said was 100% carbon-neutral.While the two-million-barrel cargo to India was destined to produce more than a million tons of planet-warming carbon over its lifecycle, from well to tailpipe, the Texas-based driller said it had completely offset that impact by purchasing carbon credits under a U.N.-sponsored program called CORSIA.Carbon credits…

Norwegian offshore vessel operator Island Offshore has recently set what it says is a world record with its deep-water installation vessel Island Victory during pre-laying of anchors at Lundin Energy's Solveig field in the North Sea, off Norway."The anchors are fastened by pulling them with such great force that they embed themselves into the seabed. In cases where a significant degree of force is needed this is done "in tandem" by two vessels. Island Victory, however, did it all on her own!…

Norwegian offshore support vessel owner Island Offshore has awarded a contract to Kongsberg Maritime to supply turnkey hybrid battery solutions for three platform supply vessels.Two vessels Island Crusader and Island Contender, previously operated with a combination of Bergen LNG engines and Bergen Diesel engines, while the Island Commander deploys four diesel engines. Now, they will be equipped with battery packs and shore connections."The conversion of all three into hybrid…

Norway-based offshore vessel owner Siem Offshore has received some breathing room after reaching an agreement with its banks.The company last week warned that the extreme fluctuations in the financial markets over the past weeks „have resulted in a further deterioration in the company's liquidity situation“ and that Siem Offshore was in discussions with its banks to seek to alleviate the situation.In a statement on Wednesday morning, Siem Offshore said that it had "with effect from 31 March 2020 entered into an agreement with the group's secured lenders to provide time to secure a long-term financing solution for the Siem Offshore group."The terms of the agreement include deferral and suspension of principal and interest and waiver of financial covenants until May 15…

Norway's prime minister Erna Solberg has opened the Johan Sverdrup field center, and the Minister of Petroleum and Energy, Sylvi Listhaug, also attended the opening.Since Equinor and the Johan Sverdrup partners Lundin Norway, Petoro, Aker BP and Total started the field on 5 October last year, production has increased to a level well above 300,000 barrels per day.Johan Sverdrup is expected to yield a total production revenue exceeding NOK 1 400 billion and more than NOK 900 billion in revenue to the Norwegian state.Expected recoverable Johan Sverdrup reserves are 2.7 billion barrels of oil equivalent. Two thirds of the oil from Johan Sverdrup are expected to be produced before 2030.The field is setting a new standard for CO2 efficiency.

The “new normal” is a phrase tossed around often in offshore energy circles today as those servicing and operating in the sector grapple with the harsh realities of the prolonged industry downturn. Operators, service companies and equipment suppliers have been forced to adjust to oil selling at prices well below the $100+ per barrel mark seen in years past. As of this writing, Brent oil was hovering around $62 per barrel, and analysts expect prices will remain in this range for some time into the future.On top of this…

Aker BP finds up to 153 million barrels of oil equivalents in North SeaAker BP has discovered an oil and gas reservoir while drilling near its Alvheim field in the North Sea.Known as Froskelaar (Frog's Leg) Main, the reservoir is estimated to hold between 45 million and 153 million barrels of oil equivalents, and may straddle Norway's maritime border with Britain."The drilling operation will continue, and a comprehensive data collection program will be performed to determine the size and quality of the discovery," Aker BP said in a statement.When reserves are found to stretch across the British-Norwegian offshore border, the two nations…

Rosenberg WorleyParsons has been awarded an engineering, procurement, construction and installation contract (EPCI) by Lundin Norway ASO in the Norwegian Continental Shelf.The services include planning, engineering, prefabrication, offshore installation and commissioning support. The objective of the modification is to prepare Lundin’s Edvard Grieg platform to receive and process oil and gas from nearby offshore fields.The project starts immediately and has a duration of two and a half years. The services will be executed from WorleyParsons Rosenberg in Stavanger.“WorleyParsons is proud to be selected to execute this important brownfield modification project for Lundin Norway”…

The Aoka Mizu floating production, storage and offloading (FPSO) vessel ordered by Hurricane Energy has left Dubai following a series of upgrades, the company said, another milestone for the group as it seeks to extract so-called fractured basement oil in Britain.Hurricane specializes in recovering oil from fractures in hard and brittle rock known as fractured basement reservoirs, which some see as a risky way to obtain crude.It expects first oil from its Greater Lancaster Area (GLA) project, west of Scotland's Shetland Islands, in the first half of 2019.

Swedish oil firm Lundin Petroleum expects to increase its resource estimate for the Alta discovery in Norway's Arctic region following a successful two-month production test.Finding significant oil reserves in the Norwegian Arctic has been challenging for oil firms, but Alta is among the exceptions along with ENI's Goliat field and Equinor's Johan Castberg discovery.Lundin and its partners are considering developing the discovery as a subsea field connected to a floating production and storage vessel…

When the owners of Norwegian oil firm Aker BP decided to digitise its assets and operations, they searched high and low for the right software company. But they failed to find a suitable one.So instead they set up their own, Cognite, to create digital maps of Aker BP's oil industry assets, integrating data from equipment such as pumps, heat and pressure sensors, maintenance records and even staff rotas to improve efficiency and safety.Less than two years later, Cognite is selling its software to Aker BP's rivals and one competitor, Sweden's Lundin Petroleum, has even agreed to share its real-time oilfield data with Aker in what they say is an industry first."This will be the first time two different operators…

Aker BP, a partner in Norway's giant Johan Sverdrup oilfield, expects a fast ramp-up of production when the initial development phase ends in late 2019, its chief executive said on Thursday."I think it will be done in a few months, because the production per well is so high," Karl Johnny Hersvik told Reuters on the sidelines of an energy conference.Johan Sverdrup Phase 1 will have capacity to produce 440,000 barrels of oil equivalents per day (boed), while the second phase, starting production in 2022, is expected to further boost output to 660,000 boed.Sweden's Lundin Petroleum, another partn

The international contractor of offshore deepwater drilling services Ocean Rig UDW  has entered into a new drilling contract with Chariot Oil & Gas Limited for a one-well drilling program, for drilling offshore Namibia.The contract is expected to commence in direct continuation of the previously announced program with Tullow Namibia Limited in the third quarter of 2018 and will be performed by the Ocean Rig Poseidon.Ocean Rig has entered into a Letter of Intent (LOI) with a European Major Oil Company for a firm two-wells program plus two optional wells, for drilling offshore West Africa.The contract is expected to commence in direct continuation of the program with Chariot Oil & Gas Limited in the fourth quarter of 2018 and will be performed by the Ocean Rig Poseidon…

Norway has awarded 12 oil and gas exploration licences to Equinor and 10 other companies focused mostly on the Arctic, where Oslo believes it has the greatest potential for significant new discoveries.Nine of the licences are located in the Barents Sea and three in the Norwegian Sea off central Norway, the Ministry of Oil and Energy said on Monday."This licensing round confirms that the oil companies see opportunities for further profitable petroleum activity in the north," Oil and Energy Minister Terje Soeviknes said in a statement.Equinor…

Equinor and partners Lundin and Spirit Energy have struck oil in the PL 167 licence at the Utsira High in the North Sea.The discovery is currently estimated to contain 15-35 million barrels of recoverable oil equivalent.“We are very pleased to announce the first Equinor discovery,” said Nicholas Ashton, Equinor’s senior vice president, Exploration, Norway & UK.“This is a good discovery which we expect will be commercial. In addition, the results from the drilling indicate an upside potential in this discovery…

This year, Project Development International (PDi) Ltd., part of the Tattva Group, celebrates a decade of activity within the decommissioning sector. As a provider of multi-disciplined engineering, project management and project services to the international energy industry, PDi has worked with multiple clients since 2008, successfully completing more than twenty decommissioning workscopes.Recently shortlisted as finalists in the Excellence in Collaboration category at Decom North Sea’s inaugural decommissioning awards…