Edvard Grieg News

09 Nov 2018

Lundin Norway Awards EPCI Contract to WorleyParsons

Managing Director of Rosenberg WorleyParsons, Jan T. Narvestad and Managing Director of Lundin Norway, Kristin Færøvic. Photo:  Lundin Norway

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.

08 Nov 2018

Norwegian Oil, Gas Plants Restart after Ship Collision

Sture Terminal (Photo: Equinor)

An oil tanker and a Norwegian navy frigate collided off Norway's west coast on Thursday, injuring eight people and triggering the temporary shutdown of a North Sea crude export terminal, Norway's top gas processing plant and several offshore fields.The frigate, which recently took part in a major NATO military exercise, was aground and tilting on one side, live television pictures showed. The Norwegian military was attempting to save the ship."We are working on stabilizing the vessel…

08 Nov 2018

BREAKING: Tanker, Frigate Collision Shuts Down Norwegian Oil, Gas to Europe

Sinking frigate (screenshot of NRK streaming coverage at https://www.nrk.no/. NRK is the Norwegian government-owned radio and television public broadcasting company)

Norway has been forced to close the Sture Oil Terminal near Bergen and has started closing down the nearby Kollsness gas-and-condensate terminal — a lifeline of heating gas to Europe — after an early morning collision between a $440-million frigate and an oil tanker.The frigate Helge Ingstad, now listing heavily to its port side, is loaded with torpedoes and weapons systems said to be unstable as a result of the collision. Eight navy personnel are said to be injured, including two flown to regional hospital…

14 Jan 2016

Statoil Acquires Minority Stakes in Lundin Petroleum

Statoil acquires shareholding in Lundin Petroleum Courtesy Statoil

Statoil ASA has acquired 37,101, 561 shares in Lundin Petroleum AB (publ.), corresponding to 11.93 percent of the shares and votes, at a total purchase price of approximately SEK 4.6 billion. The investment in Lundin Petroleum will increase Statoil’s indirect exposure to core assets on the Norwegian Continental Shelf (“NCS”). “We consider this a long term shareholding. The Norwegian Continental Shelf is the backbone of Statoil’s business, and this transaction indirectly strengthens our total share of the value creation from core…

19 Sep 2018

Aker Bets on Software Engineers for Its Oil Business

(Photo: Aker BP)

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…

20 Mar 2018

Løken Named CEO at Kvaerner

Karl-Petter Løken (Photo: Kvaerner)

Karl-Petter Løken has been appointed President and Chief Executive Officer (CEO) for the international contracting company Kvaerner. Løken succeeds Jan Arve Haugan, who left Kvaerner for a position at Aker Energy. Kvaerner's EVP & CFO Idar Eikrem will continue as interim CEO until Løken steps into the role this spring after ending his current position as head of Project Development for Lundin Norway. Since 1991, Løken has held positions in the oil and gas industry for companies like Statoil, Aker Solutions and Lundin Norway.

14 Mar 2013

EMAS Wins $165m Norwegian North Sea Contract

Photo: EMAS AMC

EMAS AMC, the subsea services division of EMAS, a global offshore contractor and provider of integrated offshore solutions to the oil and gas industry, was awarded an engineering, procurement, construction and installation (EPCI) contract, valued at approximately US$165 million, from Det norske oljeselskap ASA, an exploration and drilling operator on the Norwegian Continental Shelf. The contract is for rigid pipe-lay and related subsea work, in the Ivar Aasen field in the Norwegian North Sea.

19 Aug 2013

Statoil: Divesting and Refocusing Portfolio

Statoil ASA has signed an agreement to divest minority interests in the Gullfaks and Gudrun fields offshore Norway and exit the non-core, non-operated Schiehallion and Rosebank fields, West of Shetlands. In addition to the cash consideration of USD 2.65 billion, the transaction with Austrian oil and gas company OMV includes a contingent payment and involves a partnership between the two companies. Statoil reduces its ownership share in Gullfaks from 70 % to 51 % and from 75 % to 51 % in Gudrun, and retains its operatorships on both fields. "Through this transaction, Statoil captures value created through asset development and unlocks capital for investment in high return projects in core areas. This includes our recent discoveries on the Norwegian continental shelf.

04 May 2012

Aker Solutions to Deliver Services to Kvaerner's Contract

On May 3, 2012 Kvaerner ASA announced its intent to use Aker Solutions as a sub-contractor for its engineering, procurement and construction (EPC) contract for the topside for the Edvard Grieg platform (formerly Luno). The field is operated by the Swedish oil and gas exploration and production company Lundin. Aker Solutions will deliver design engineering and procurement services from the company's offices in Oslo, Norway and Mumbai, India, with support from Kvaerner. Fabrication and assembly of the 4 500 tonne process module will be conducted by Aker Solutions' yard in Egersund.

18 Aug 2015

Lundin Norway Exercises Safe Boreas Option

Safe Boreas (Photo: © Prosafe)

Semi-submersible accommodation vessel owner and operator Prosafe informs that Lundin Norway AS has exercised an option to prolong the provision of semi-submersible accommodation vessel Safe Boreas at the Edvard Grieg Project in the Norwegian sector of the North Sea.   The one-month option extends on site operations through mid-December 2015 and has a total value of approximately $10 million. In addition, Lundin has a further one-month option.

07 Sep 2012

Oil Platform Hook-up, Commissioning Contract for Kvaerner

Norway's Kværner ASA contracted to perform Edvard Grieg field (in the North Sea) offshore hook-up and commissioning assistance. Lundin Norway AS has confirmed an option in the Edvard Grieg topside contract for Kvaerner to perform the offshore hook-up and commissioning assistance. Estimated value is NOK 525 million. Kvaerner was in May awarded a contract by Lundin Norway AS to perform engineering, procurement and construction (EPC) of the topside for the Edvard Grieg platform, with an estimated contract value of NOK 8 billion. Lundin Norway AS has now confirmed an option in the contract to perform offshore hook-up and commissioning assistance, which will add approximately NOK 525 million to the contract value.

22 Oct 2012

Statoil: Transaction to Realize Value and Secure Growth

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.

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