Norsk Hydro News

11 Jul 2018

Corvus Energy Expands

Photo: Corvus Energy

Corvus Energy, manufacturer of energy storage systems for maritime applications, announced two production and R&D expansion plans underway in Canada and Norway. The new battery factories will be more modern and more automated than other similar factories, result in eight times the production capacity compared to today.First, the Corvus Energy factory in the Vancouver, Canada region will be expanded and upgraded to house a 200 MWh semi-automated battery production facility. A new product R&D, design and engineering facility will also be developed.

06 Jun 2017

Qatari Export Costs to Rise as Port Ban Disrupts Trading

© Wojciech Wrzesień / Adobe Stock

Region's largest bunkering hub shuns Qatari vessels; affected shippers may face delays, higher costs. The costs of Qatari energy and commodity exports are likely to rise as the United Arab Emirates' ban on Qatari vessels cuts the ships off from the region's main refuelling port, forcing ships to sail further for fuel or pay higher prices. Saudi Arabia and the UAE, along with Egypt, Yemen and Bahrain, on Monday cut diplomatic ties with Qatar amid accusations the country supported terrorists.

04 Feb 2015

Sætre Appointed President & CEO of Statoil

Eldar Sætre, new Statoil president and CEO. (Photo Harald Pettersen)

Statoil’s board of directors has appointed Eldar Sætre as the company’s new president and CEO. Sætre, who has 35 years’ experience from Statoil and the oil and gas industry, has been acting as president and CEO since October, and assumes the role with immediate effect. "Eldar Sætre was our first choice. The industry and company are facing demanding challenges. Eldar stands out with his long experience and ability to create change. Those are qualities we need in times like these.

12 Nov 2014

New Director on Odfjell Board

Photo: Odfjell

Odfjell SE held a general meeting November 12, 2014 at which the nomination committee elected Annette Malm Justad as its new director of the board. Annette Malm Justad is a Norwegian citizen born in 1958. She has a master's degree in chemical engineering from the Norwegian Institute of Technology (NTH) and a master in technology management from MIT Sloan School of Management. She has a broad experience in logistics, marketing and purchasing within manufacturing and industrial shipping in Europe…

15 Oct 2014

Statoil’s President & CEO Helge Lund Resigns

Helge Lund assumed the role as President and CEO of Statoil on 16 August 2004.

Statoil President and CEO Helge Lund has informed the company's board of directors that he will resign. Helge Lund has chosen to leave Statoil to take up the position as CEO of another international oil and gas company. The board of directors has appointed Eldar Sætre as acting president and CEO of Statoil with immediate effect. According to a Reuters report, Statoil's long-serving chief executive will take on the top role at smaller rival BG, where he has been promised a big pay rise if he can turn round the flagging British gas and oil producer.

07 Oct 2014

Kvidal Named Yara Int'l Acting CEO

Torgeir Kvidal is appointed Acting CEO of Yara International

Torgeir Kvidal is appointed Acting CEO effective 7 October 2014, and Jørgen Ole Haslestad has resigned as Yara CEO. "Yara's Board have concluded that Haslestad is not the right person to lead the company going forward, also in light of the on-going talks with CF Industries. Haslestad would not have a role in a potential merged company," says Leif Teksum, Chairman of the Yara Board of Directors. "I would like to take this opportunity to thank Jørgen for his contribution to Yara, first as a Board member and since 2008 as CEO.

21 Jul 2014

Yara Names Brandtzæg New CEO

The board of directors of Yara International today announced the appointment of Svein Richard Brandtzæg as the company's new President and Chief Executive Officer. He will succeed Jørgen Ole Haslestad by February 2015. Brandtzæg currently serves as President and CEO of Norsk Hydro ASA, a position he has held since 2009. Prior to this, he has held a number of management positions in Norsk Hydro. Born in Norway in 1957, Brandtzæg graduated from the Norwegian University of Science and Technology (NTNU). He holds an economics degree from the Norwegian School of Management and a PhD from NTNU. "In preparation for the retirement of Jørgen Ole Haslestad at the age of 65, the Yara Board of Directors initiated a thorough process to identify his successor.

20 Jun 2014

Norway to Retain Statoil Stake

Prime Minister Erna Solberg (Photo: http://www.regjeringen.no)

Norway's right wing government will retain its current holding in oil and gas firm Statoil , backing off a pre-election proposal to cut the stake to about 50 percent from the current two thirds of the shares. The government led by the Conservative Prime Minister Erna Solberg has pledged to reduce the state's role in the economy to give the private sector more breathing space and shrink what it considers a bloated public sector. The government owns about a third of shares listed…

16 Jun 2011

Kvaerner Announces Election of New Board Members

The Directors to Kvaerner's Board have been elected. From Kvaerner's first day of trading on the Oslo Stock Exchange in July 2011, the Board of Directors will consist of five shareholder-elected members as well as three members elected by Kvaerner's employees. The shareholder-elected members are Kjell Inge Røkke (chairman), Tore Torvund, Bruno Weymuller, Lone Fønss Schrøder and Vibeke Hammer Madsen. The employee-elected members are Rune Rafdal, Ståle Knoff Johansen and Bernt Harald Kilnes. Kjell Inge Røkke is an entrepreneur and industrialist, and has been a driving force in the development of Aker since the 1990s. Mr. Røkke owns 67.8 percent of Aker ASA through The Resource Group TRG AS.

04 May 2011

Haugan CEO of Kvaerner

Jan Arve Haugan has been appointed President and Chief Executive Officer (CEO) of Kvaerner. This new engineering, procurement and construction (EPC) company is being established through a demerger of Aker Solutions. Kvaerner will be separate and listed on the Oslo stock exchange, most likely in July this year. Jan Arve Haugan started his professional career in the Norwegian construction company F. Selmer (now part of Skanska), and in 1991 he joined the Norwegian industrial group Norsk Hydro as chief engineer for the Oseberg field development as a key task. Since then he has had leading positions in many of Hydro's oil and gas projects and operations.

22 Sep 2010

FMC $520M Order for Total's CLOV Development

FMC Technologies, Inc. (NYSE: FTI) announced it has signed an agreement with Total Exploration & Production Angola for the manufacture and supply of subsea production equipment for the CLOV development project. The award has a value of approximately $520m in revenue to FMC Technologies. FMC's scope of supply includes the manufacture of 36 subsea trees, wellheads and controls. The company will also supply eight manifolds, two workover systems and associated tooling and equipment. Deliveries are scheduled to commence in the first quarter of 2012. The deepwater CLOV development project consists of the Cravo, Lirio, Orquidea and Violeta discoveries, located in approximately 4,500 feet (1,370 meters) of water in Block 17 offshore Angola.

25 May 2010

Sinochem Becomes Partner in Peregrino Field

Photo courtesy Annette WestgĂĄrd, Statoil

Statoil ASA (OSE: STL, NYSE: STO) has agreed to sell 40% of the Peregrino field offshore Brazil to Sinochem Group. Statoil maintains 60% ownership and the operatorship of the field which is set to start production in early 2011. “The transaction confirms the high quality of the Peregrino asset, reflecting Statoil's value added through the field development. The transaction demonstrates Statoil’s ability to leverage its industrial competence developed at the Norwegian Continental Shelf, and realize value for our shareholders.

26 Mar 2009

Nielsen Resigns from StatoilHydro

Kurt Anker Nielsen has informed StatoilHydro’s nomination committee that he is resigning from his position as board member on March 25, with immediate effect as a result of the way the Ministry of Petroleum and Energy has handled the issue relating to the company name. Kurt Anker Nielsen was a board member of Norsk Hydro from 2004 to 2007. He has been a member of the board, and chair of the board's audit committee, of StatoilHydro since 1 October 2007.   StatoilHydro's nomination committee will immediately start its search for a new member of the board. The board of directors in StatoilHydro is elected by the company's corporate assembly. (www.statoilhydro.com)

08 Jan 2009

Lange New Faststream Partner

Christian Lange has become the managing partner of Faststream AS, the Oslo based arm of international maritime recruitment specialist Faststream Recruitment Ltd. Commenting on the appointment, Faststream Group CEO Mark Charman said: “Christian is a shipping man through and through with years of shipbroking experience under his belt who really understands the sector. After two years with Faststream, I’m delighted that he has become a partner in our fast growing firm. Oslo born Christian Lange (53) began his career in shipping in 1975 as a shipbroker in Hamburg. He has worked in a variety of positions for United Arab Chartering (1978-79)…

31 Oct 2008

Breivik Acting Exec VP - StatoilHydro

Mr. Breivik will succeed Hilde Merete Aasheim who will leave StatoilHydro on the same date to take up her new position as executive vice president of Aluminium Metal in Norsk Hydro. Gunnar Breivik is currently senior vice president of StatoilHydro's health, safety and environment cluster. Mr. Breivik will continue to hold the responsibility for this field as well. After completing his chemical engineering studies as a chartered engineer at the of Science and Technology (NTNU) in 1981, Mr. Breivik was employed by Phillips Petroleum before he started working for Norsk Hydro in 1985. Gunnar Breivik held a number of positions in Hydro Oil & Energy…

18 Jun 2008

Hibernia South Deal to Follow Hebron Agreement

An agreement to develop the Hibernia South offshore oilfield should be complete this year, Premier Danny Williams said. More than a year ago, the Newfoundland and Labrador government rejected a proposal to develop the project, triggering fears that Williams was alienating the oil industry and scaring away investment. Williams,  said he intends to turn his attention to the Hibernia South project once a deal to develop the Hebron oilfield is finalized, which is expected soon. The application was submitted in 2006 by the Hibernia Management and Development Corporation, which includes ExxonMobil, Chevron, Petro-Canada Norsk Hydro, Murphy Oil and Canada Hibernia Holding. ExxonMobil Canada president Glenn Scott said he was optimistic the Hibernia South negotiations would progress swiftly.

03 Jun 2008

New CEO for Aker Yards

Torstein Dale Sjøtveit has been appointed new president and CEO for Aker Yards ASA. Sjøtveit comes from the global industrial company Norsk Hydro, and brings a strong international top management experience. He will start in his new position with Aker Yards at the latest 1 September 2008.In March 2008, Aker Yards announced the start of a recruitment process for a new CEO. In the intermediate period, the chairman of the board of directors, Svein Sivertsen, has acted as CEO.

03 Dec 2007

Statoil Hydro wins Offshore Brazil Bid

Statoil Hydro on November 27 said it has won a bid to conduct offshore exploration off Brazil. The Norwegian group was awarded two blocks offshore. The blocks, numbered CM529 and CM530, are located in sea depths of around 100 m. The licenses for the two blocks were to be operated by Anadarko Petroleum Corporation that would have a 50 percent stake, the same as Statoil Hydro. Statoil Hydro did not state what the bid cost. The blocks were located next to the heavy oil field Peregrino that was slated to come on stream in 2010. Statoil Hydro has a 50-percent-stake in the Peregrino field in the Campos basin. The Norwegian group was created October 1 when Statoil and its rival Norsk Hydro merged their oil and gas activities.

08 Oct 2001

Statoil Ships Run on Gas...Liquefied Natural Gas That is

Norway's Statoil has called upon shipbuilder Kleven Verft to construct a pair of 309-ft. (94.3-m) supply ships that will run on LNG. The vessels, which are scheduled for completion during 2003, and operated by Statoil, will be contracted from Eidesvik and Møkster Shipping. According to Knut Barland, Statoil's vice president for Environment, the LNG power concept is expected to cut the vessels' nitrogen oxide (NOx) emissions by 85 percent; annual emissions are expected to be lowered by 420 tons. Why would a company knowingly add $6 million to the construction price of a new vessel, and more than $1 million per year in operating costs? The answer is a multi-faceted one, but basically it comes down to environmental responsibility.

15 Oct 2001

Stolt Offshore Awarded Repair Contracts in Norway

Stolt Offshore S.A. announced the award of contracts from Statoil and Norsk Hydro to the Stolt Halliburton Joint Venture for pipeline repairs in Norway. This joint venture was originally formed in 1995 for servicing the Statoil Hyperbaric Welding and Diving Services Contingency Contract and renewed in July 2000 for five years. The first contract is for pipeline repairs on the Aasgard field for Statoil and is valued at $100 million. expected to be completed in April 2002. The second contract is for pipeline repairs on the Tune field pipeline for Norsk Hydro and is valued at $6 million. This contract will use the pipeline repair system owned by the Statpipe License and the Oseberg Transporation System and administered by Statoil.

16 Oct 2001

Drilling Deep Oil Reserves Offshore Angola

In an advisory, Industrialinfo.com (Industrial Information Resources Inc. Houston, Texas)reports that Girassol, the Angolan offshore, deepwater oil project run by TotalFinaElf is set to raise the country's daily output by over 25% from 750,000 barrels per day (bpd) to 950,000 bpd. 200,000 bpd. It is estimated that a number of the wells could produce 40,000 bpd. Partners in Block 17 with TotalFinaElf are Exxon-Mobil, BP, Statoil from Norway and Norsk Hydro with stakes ranging from 10% to 20%. Claiming that the 1,300m riser tower is the tallest offshore structure in the world, the company has installed a floating storage and production vessel (FPSO) with a capacity of two million barrels of crude.

05 Nov 2001

Farstad Receives Letter of Intent from Norsk Hydro

Farstad Shipping ASA, in co-operation with Stolt Offshore AS, has received a Letter of Intent from Norsk Hydro for a 5 year charter, plus 3 yearly options, for the newbuilding Far Saga, which was deliverd from Simek AS on 31st of October. The vessel, a large platform supply vessel (PSV) of design UT 745 L, will be a part of Stolf Offshore AS' contract with Norsk Hydro for underwater services. Far Saga will operate in a PSV role for Norsk Hydro until necessary outfitting and mobilization for underwater services is carried out. company's largest customers. Further this means that 6 of the 7 newbuildings ordered in year 2000 have now achieved long-term contracts. of year 2002. This work will take place outside the North Sea. The total value of the firm period of these contracts is approx.

18 Aug 2003

Changing Russian Export Patterns

Russia has the seventh largest oil reserves in the world (6% of total), after 5 Middle East Countries (totalling 63%) and Venezuela (7%). The other Former Soviet Union (FSU) republics Azerbaijan, Kazakhstan, Turkmenistan, and Uzbekistan have together less than 2% of the total world reserves, estimated by BP to be some 1048 thousand million barrels. The Russian reserves are spread over a huge area: West Siberia, Volga-Urals, North Caucasus, the Caspian area, the Far East regions, and Eastern Siberia. The last region is estimated to be 90% unexplored, and also the Caspian area and the Far East regions were said by the Deputy Minister of Natural Resources, Ivan Glumov, to be to a great extent unexplored, according to INTERFAX.

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