SolstadFarstad Bags Contract for Normand Commander
Solstad Farstad ASA (SOFF) has entered a Bareboat contract with Bahia Grande LN S.A for the CSV "Normand Commander” for operation in Argentina. The contract period is 5 years firm with further 1x3 years option, commencement of the contract is February 2018. The commercial terms are confidential between the parties. Last month, Petróleo Brasileiro S.A extended the present contract for RSV “Far Swift” with approximately 1 year, in direct continuation of present contract. Contract is now firm until 4q -2018.
Dynagas Announces TC for LNG Carrier Pair
Dynagas LNG Partners has announced that a Partnership has entered into a new three year charter agreement with Statoil ASA (Statoil) for the employment of the Arctic Aurora, its 2013-built, 155,000 cubic meter, tri-fuel diesel engine, ice class liquefied natural gas (LNG) carrier. The Arctic Aurora is currently, and has been since 2013, on charter to Statoil. The Extended Charter is expected to commence in the third quarter of 2018 in direct continuation of the Current Charter…
Statoil, AET Expand Shuttle Tankers Contract
Statoil ASA and petroleum and chemical tanker owners and operator AET are extending their partnership in the North Sea shuttle tanker sector. Statoil has, awarded a long-term contract to AET, a subsidiary of Malaysian energy shipping group, MISC Berhad, to operate two specialist DP2 offshore loading shuttle tankers (OLSTs) on long-term charter. These new vessels will be in addition to the two AET DP2 ships currently on charter, in the same area, for Statoil. These new vessels are in addition to the two AET DP2 ships currently on charter in the same area for Statoil.
Changes in Statoil’s Top Deck
Jannicke Nilsson has been appointed executive vice president and chief operating officer (COO) in Statoil ASA. She takes over the role from Anders Opedal, who will lead the development of Statoil’s growing and increasingly important operations in Brazil as new country manager. Jannicke Nilsson will assume her new responsibilities on 1. December this year, Anders Opedal will assume his responsibilities 15 January 2017. Nilsson will report to President and CEO Eldar Sætre with her office location being Stavanger…
Stausholm Resigns from Statoil Board
Jakob Stausholm has informed that he will resign from his position as member of the board of directors in Statoil ASA with immediate effect in order to avoid potential conflicts of interests following his new appointment as CFO of the Maersk group. Stausholm takes up his new position as from 1 December 2016. The nomination committee in Statoil will commence its search for a new board member, to allow for the corporate assembly to conduct a by-election when the nomination committee's recommendation is ready. Tone Lunde Bakker is chair of the nomination committee in Statoil.
Technip Bags Statoil's Umbilical Supply Contract
Technip’s wholly-owned subsidiary Technip Umbilicals Ltd.(1) has been awarded a contract by Statoil ASA to supply the umbilical(2) to the Oseberg Vestflanken 2 field offshore Norway. This field is located approximately 8 kilometers North West of the Oseberg field center at block 30/9-30/6 on the Norwegian continental shelf, at water depths of 100 meters. The contract covers project management, engineering and manufacture of over 9 kilometers of static steel tube umbilical. The umbilical includes a large bore integrated service line and multiple power cables.
Semco Signs Staffing Agreement with Statoil
Semco Maritime Norway informs it has been awarded a new framework agreement for supply of temporary staffing to Statoil ASA. The agreement applies to several types of specialists, both onshore and offshore, at Statoil’s installations and onshore facilities. The framework agreement runs for four years and holds options for additional four years.
Van der Veer Elected to Statoil Board
In a meeting in the Corporate Assembly of Statoil ASA on 17 March 2016, Jeroen van der Veer was elected as a new member of Statoil's board of directors. Van der Veer was the Chief Executive Officer in the International oil and gas company Royal Dutch Shell Plc (Shell) in the period 2004 to 2009, when he retired. Van der Veer thereafter continued as a non-executive director on the board of Shell until 2013. He started to work for Shell in 1971 and has experience within all sectors of the business.
Statoil Reccommends Van der Veer for BoD
The nomination committee in Statoil (OSE:STL, NYSE:STO) recommends that the company's corporate assembly elects Jeroen van der Veer as a new member of Statoil's board of directors. Van der Veer was the Chief Executive Officer in the international oil and gas company Royal Dutch Shell Plc (Shell) in the period 2004 to 2009, when he retired. Van der Veer thereafter continued as a non-executive director on the board of Shell until 2013. He started to work for Shell in 1971 and has experience within all sectors of the business.
Standardization for Cost Effective Pipeline Innovation - DNV GL
Growing global energy demand and requirements for additional pipeline capacity are driving the pipeline segment. However, pipeline related innovation is prioritized by only 4% of senior oil & gas professionals, according to research by DNV GL, the technical advisor to the oil & gas industry. Further, the research shows that nearly one in five oil & gas companies (18%) do not have a strategy in place to maintain innovation. Six in ten (61%) respondents agree that operators will increasingly push to standardize their delivery globally, up from 55% in 2015 and 52% in 2014.
Statoil Cancels Maersk Rig Contract
Norwegian firm Statoil ASA is ending its rig contract for the Maersk Gallant six months early. The jack up rig has been on contract with Statoil for two years, since 21 August 2014, and since 9 October it has been sub-chartered to ConocoPhillips. "Between 14 February and 21 August 2016 the Maersk Gallant is on a new contract with Total E&P Norge AS, who will pay cancellation fee according to the former contract," says a press statement from Statoil. In January, Total received consent from the Petroleum Safety Authority (PSA) of Norway…
Moody's Reviews Saipem's Rating
San Donato Milanese (Milan), February 10, 2016 – Saipem S.p.A., informs that today Moody’s, through the publication of a press release on its website [www.moodys.com] given below has communicated that it has placed under review the provisional issuer rating of "(P) Baa3 " attributed to Saipem, for a possible downgrade. Saipem was assigned its provisional rating, and which has caused Moody’s to downgrade its expectations for future oil prices. • On the potential impact of the weaker market context on Saipem’s future ability to generate cashflows in line with the strategic plan.
Top Deck Rejig at Yara
Yara International ASA announces organizational and management changes, to improve strategic focus and execution. "After spending recent months visiting numerous Yara sites, meeting employees and conducting business and organizational reviews, I have concluded on the key organizational changes needed to strengthen operational focus and improve alignment behind our strategic direction," said Svein Tore Holsether, President and Chief Executive Officer of Yara. "It is clear to me that Yara's employees are dedicated and work hard every day to deliver value to our customers…
Statoil's LNG Price for Lithuania to Fall by a Third
Liquefied natural gas (LNG) price from Norwegian company Statoil ASA for Lithuania is set to fall by more than one-third and the Klaipeda LNG terminal's maintenance costs are to decline by around 23% after Lithuania's gas trade company Litgas completed talks with the Norwegian supplier on a revision of their long-term gas purchase contract, reports LETA/BNS. According to Dalius Misiunas, CEO of the state energy group Lietuvos Energija (Lithuanian Energy), the price will go down to around 16-20 euros per megawatt-hour (MWh) under the new deal with Statoil, from around 27-30 euros currently.
Agerup Joins Statoil's Board of Directors
In a meeting in the Corporate Assembly of Statoil ASA on August 20, 2015, Wenche Agerup was elected as a new member of Statoil's board of directors. Wenche Agerup was the Executive Vice President for Corporate Staffs and the General Counsel of Norsk Hydro ASA from 2010 to December 31, 2014. She has held various executive roles in Hydro since 1997, including within the company's M&A-activities, the business area Alumina, Bauxite and Energy, as a plant manager at Hydro's metal…
Statoil BoD Selections Announced
In a meeting in the Corporate Assembly of Statoil ASA on 9 June 2015 Øystein Løseth was elected as new chair and Roy Franklin as a new member and deputy chair of Statoil's board of directors. Chair of the board Svein Rennemo and board member Jim Mulva had in advance informed the nomination committee that they did not wish to stand for re-election in 2015. Bjørn Tore Godal, Jakob Stausholm and Marjan Oudeman were re-elected as members of the board of directors. Board member Rebekka Glasser Herlofsen…
Hughes Exits Statoil Board of Directors
Catherine Hughes will resign from her position as member of the board of directors in Statoil ASA with immediate effect to avoid potential conflicts of interest following a recent change of circumstances, Statoil announced. The nomination committee in Statoil will commence its search for a new board member, and the corporate assembly will make a by-election when the nomination committee's recommendation is ready.
Herlofsen Joins Statoil’s Board of Directors
In a meeting in the Corporate Assembly of Statoil ASA March 18, 2015, Rebekka Glasser Herlofsen was elected as new shareholder representative to the company’s board of directors. Grace Reksten Skaugen withdraws from the position as a member of Statoil’s board of directors. Reksten Skaugen had at an early point in time informed the nomination committee that she did not wish to stand for reelection in 2015. Since 2012, Herlofsen has been the Chief Financial Officer in the Norwegian shipping company Torvald Klaveness.
Herlofsen Elected to Statoil’s BoD
In a meeting in the Corporate Assembly of Statoil ASA (OSE:STL, NYSE:STO) 18 March 2015, Rebekka Glasser Herlofsen was elected as new shareholder representative to the company’s board of directors. Grace Reksten Skaugen withdraws from the position as a member of Statoil’s board of directors. Reksten Skaugen had at an early point in time informed the nomination committee that she did not wish to stand for re-election in 2015. Since 2012, Herlofsen has been the Chief Financial Officer in the Norwegian shipping company Torvald Klaveness.
Madsen to Chair Norway’s Research Council Executive Board
Henrik O. DNV GL president and CEO Henrik O. Madsen was appointed as chairman of the executive board of the Research Council of Norway. The executive board is the Research Council’s highest authority, and the newly appointed board will commence Jan 1. 2015. The main functions of the Research Council of Norway is to provide strategic policy input, administer research funding and serve as a meeting place for the development of research policy and dissemination of knowledge in Norway.
Omega Completion Technology Wins Statoil Contract
Independent well completion and intervention technology developer and manufacturer Omega Completion Technology has secured a completions framework contract with Statoil ASA. The contract awards Omega the right to supply its unique ReACT Technology (Remotely Activated Completion Technology) to all Statoil assets in the Norwegian continental shelf, totalling 35. Omega delivered the first ReACT completion solution to Statoil 10 years ago and has provided completion equipment for more than 30 Statoil wells.
Election of Statoil’s Board of Directors
In a meeting in the Corporate Assembly of Statoil ASA, Svein Rennemo was re-elected as chair and Grace Reksten Skaugen as deputy chair of the board of directors. Bjørn Tore Godal, Maria Johanna Oudeman, Jakob Stausholm, Catherine Hughes and James Mulva were re-elected as shareholder representatives to the board. Øystein Løseth was elected as new shareholder representative to the board. Øystein Løseth is a Norwegian citizen. Øystein Løseth has significant managerial experience in the energy sector, with particular expertise and experience from the European energy market.
Marit Arnstad Leaves Statoil Board
Marit Arnstad has announced that she will resign from her position as deputy chair and member of the board of directors in Statoil ASA (OSE: STL, NYSE: STO) effective immediately. The nomination committee in Statoil will start its search for a new board member, and the corporate assembly will make a by-election when the nomination committee's recommendation is ready. Olaug Svarva is chair of the nomination committee in Statoil.
Election to Statoil's Board
Stock Market Announcement The corporate assembly of Statoil ASA (OSE:STL, NYSE:STO) has elected Marjan Oudeman and Børge Brende as new members of Statoil's board of directors. In addition, Grace Reksten Skaugen has been elected as new deputy chairman of the board.
Major BP Upstream North Sea Project Starts Production
BP and partners start production of oil/gas from the Skarv field in the Norwegian Sea, one of a series of new major upstream projects. “The start-up of Skarv is a key operational milestone for BP, adding new production from one of our core higher-margin areas,” said Bob Dudley, BP group chief executive. The Skarv field is approximately 210 kilometres west of the Norwegian coast in water depths of approximately 350-450 metres. Discovered in 1998, the field has an estimated ultimate recovery of around 100 million barrels of oil and condensate and over 1.5 trillion cubic feet of rich gas.
OTC Announces Spotlight on New Technology Recipients
The Offshore Technology Conference (OTC), which takes place May 6-9 in Houston, has announced 15 technologies that will receive the 2013 Spotlight on New Technology Award recognizing innovative new products that provide significant impact for offshore exploration and production. The awards will be presented at 1600 hours, 6 May, in Reliant Center. The Spotlight on New Technology Awards, which are for OTC exhibitors, showcase the latest and most advanced hardware and software technologies that are leading the industry into the future.