Wintershall Norge As News

Norwegian shipowner Golden Energy Offshore Services AS (GEOS) said on Tuesday it has secured a contract extension with Wintershall Norge AS for the large platform supply vessel (PSV) Energy Swan.The contract is in direct continuation of a charter contract from 2013. The 2005-built PSV was chartered for a firm period of four years, plus options totaling up to four additional years.Wintershall Norge and GEOS agreed to several extensions after expiration of the firm period, the latest with a firm period to December 31, 2018.The parties have now agreed that the vessel will remain firm on charter through April 30, 2019, with options to extend until November 30, 2021.

Norwegian OSV operator Golden Energy Offshore Services (GEOS) has been awarded a contract extension by Wintershall Norge for 2005-built platform supply vessel Energy Swan.A press release from GEOS confirmed that a contract extension has been secured with Wintershall Norge AS.The contract is in direct continuation of the charter contract from 2013. The large PSV Energy Swan was in 2013 chartered for a firm period of 4 years + optional (total of 4 years options).Wintershall Norge AS and GEOS agreed after expiration of the firm period a 6 months charter extension and later announced another extension of 3 months.The parties have now agreed that the vessel will remain firm on charter till 31 December 2018.

DEA and its partners in PL418 have selected a subsea tie-back to the Gjøa platform as the concept for development of the Skarfjell discovery in the Norwegian North Sea. This alternative is an enabler for developing the Gjøa platform as a stronger hub in the area and maximising recovery for Gjøa, Skarfjell and the area in general. Skarfjell is situated in the northeastern North Sea, approximately 20 kilometers southwest of the Gjøa platform. DEA is partner in Gjoa, with a share of 8%. Based on the proposed plan, hydrocarbons from the Skarfjell reservoir will be transported from a subsea template to the Gjøa platform for processing and export. Gjøa would also provide gas lift services to the field and water injection for pressure support to a second template.

Wintershall Norge AS has awarded a four-year service contract to Halliburton Norge AS to support its Maria Projects in the Norwegian Sea. The contract is effective immediately and will be used for drilling-associated services on Wintershall’s Maria development in the Norwegian Sea. The agreement, which contains incentives for efficient well deliveries, can also be used for other Wintershall activities. “At an uncertain time for the industry, this contract provides a timely boost for the supplier market while laying the groundwork for efficient construction of our operated development and exploration wells over the rest of the decade,” said Bernd Schrimpf, Managing Director of Wintershall Norge.

Subsea 7 S.A. announced it has been awarded a pipeline and construction contract worth approximately $300 million from Wintershall Norge AS for the Maria field development. The contract consists of engineering, procurement, construction and installation (EPCI) of 95 kilometers of rigid flowlines and associated structures to develop the Maria field located in the Norwegian Sea at a water depth of approximately 300 meters. Project management and engineering work will commence immediately at Subsea 7’s offices in Stavanger, Norway, while offshore operations are scheduled to commence in 2016 and are expected to be completed in 2017. Offshore activities will utilize a variety of Subsea 7 vessels, including the newbuild vessel, Seven Arctic, with its high-end capability and capacity.

BG Group announced the Petrojarl Knarr floating production, storage and offloading (FPSO) vessel had started production from the Knarr oil field in the North Sea, offshore Norway. The FPSO has been leased from Teekay Corporation and is moored approximately 120 kilometers off the Norwegian coast. It has a production capacity of 63,000 barrels of oil equivalent per day and a storage capacity of 800,000 barrels. The Knarr field, discovered in 2008, has estimated gross recoverable reserves of around 80 million barrels of oil equivalent with a production life of at least ten years.

Wintershall has taken over the operatorship of the subsea oil and gas field Vega from Statoil, Wintershall announced today. Vega is the BASF subsidiary’s first operated subsea tie-in field in Norway. With this transfer, Germany-based Wintershall now operates two production fields on the Norwegian Continental Shelf, Brage and Vega. The takeover of the Vega operatorship is part of a transaction with Statoil that was completed in December 2014. Winteshall is currently producing more than 60,000 barrels of oil equivalent per day in Norway.

Statoil ASA (OSE: STL, NYSE: STO) has signed an agreement to exit the Brage licences, farm down in Gjøa and Vega and acquire a 15 % stake in the Edvard Grieg licence near the Johan Sverdrup field in the North Sea. This transaction with the German oil and gas company Wintershall gives Statoil net proceeds of USD 1.45 billion, and begins a strategic partnership between Statoil and Wintershall. The consideration to be paid by Wintershall includes a contingent consideration of USD 100 million relating to the production on Vega. "This transaction realizes significant value for our shareholders, demonstrates the value of our NCS portfolio, and further enhances the financial flexibility of Statoil.