Energy

Statoil has, on behalf of the license partners, awarded EPC contracts for the delivery of subsea production systems and services for the Troll Phase 3 project in the North Sea and the Askeladd project in the Barents Sea, respectively, to Aker Solutions. The contracts have a total estimated value of between NOK 1.5-2 billion kroner. The contracts include installation and commissioning support services.

Ocean Power Technologies, Inc. (NASDAQ:OPTT) announces that the Company has signed an agreement with Premier Oil (LSE:PMO), an international oil and gas company, to study the feasibility of using the PB3 PowerBuoy for decommissioning operations in the North Sea.

ExxonMobil has been named 2017 Explorer of the Year by the World Oil and Gas Council in recognition of excellence and innovation in the global energy industry.

Deep Sea Mooring (DSM), a Vryhof company, has commenced operations with the newly awarded contract to provide pre-lay mooring products and services to the Deepsea Bergen semisubmersible drilling rig on the Norwegian Continental Shelf. Austrian oil & gas company OMV has deployed the semi-submersible rig to support drilling activities in the region.

The Norwegian Ministry of Petroleum and Energy offers the industry 75 production licenses on the Norwegian continental shelf in the Award in Pre-Defined Areas 2017 (APA 2017) licensing round.

The Court Supervised Settlement Program (CSSP) established as part of the Deepwater Horizon (DWH) class action settlement is winding down. BP now expects to take a post-tax non-operating charge of around $1.7 billion in its fourth quarter 2017 results for the remaining Business Economic Loss (BEL) and other claims associated with the CSSP. The cash impact is expected to be spread over a multi-year period.

Never before has so much gas been sold from the Norwegian shelf as was the case in 2017. Oil production was down slightly; nevertheless, overall production rose for the fourth straight year. And according to forecasts from the Norwegian Petroleum Directorate, the production increase will continue toward 2023 – perhaps even reaching the level of the record year 2004.

Ad Hoc Marine Designs is championing the feasibility of its Typhoon Class Swath design as the best suited windfarm vessel to meet significant wave height requirements for future rounds of offshore windfarms.

In connection with the Award in Predefined Areas (APA) for 2017 Statoil has been offered interests in 31 exploration licenses on the Norwegian continental shelf (NCS), 17 of these as operator, and 14 as a partner.

Crowley Fuels LLC announces that it has signed a construction contract with Bollinger Shipyards to build a new Alaska Class 100,000-barrel-capacity articulated tug-barge (ATB) to transport multiple clean petroleum products in the Alaska market.

Global Energy Group (GEG), a Scotland-headquartered energy sector service provider, has played a key role, together with local businesses, in supporting Premier Oil to reach first oil on the Catcher field in the North Sea. This was safely achieved on 23 December 2017.

The EU-funded MaRINET2 project has launched its second call for applications on January 15, 2018. Successful applicants will receive free access to a world-leading network of testing and research infrastructures. The call is open to offshore energy technology developers, including wind, wave and tidal energy at system and component level. It is open until February28, 2018.