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Statoil ASA (STO.N)

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Latest Key Developments (Source: Significant Developments)

Statoil says first floating windfarm started production
Wednesday, 18 Oct 2017 03:04am EDT 

Oct 18 (Reuters) - Statoil Asa :World's first floating wind farm has started production.The 30MW wind farm, operated by Statoil in partnership with Masdar, is located 25 kilometers offshore Peterhead in Aberdeenshire, Scotland and will power approximately 20,000 households.  Full Article

Valeura Energy updates on Yamalik-1 testing program
Tuesday, 17 Oct 2017 01:47pm EDT 

Oct 17 (Reuters) - Valeura Energy Inc ::Valeura announces Yamalik-1 testing program and operational update.Valeura Energy Inc - Agreement with Statoil Banarli Turkey for completion, multi-stage fracing, flow testing program for Yamalik-1 well​.‍Valeura Energy Inc - Yamalik-1 testing program is expected to commence during November 2017​.‍Valeura Energy Inc - Estimated all-in cost of Yamalik-1 testing program is US$10.3 million, to be funded 100% by Statoil up to a cap of 110% of budget​.  Full Article

Statoil signs Bilfinger, Kaefer deals worth more than NOK 7 bln
Friday, 6 Oct 2017 07:49am EDT 

Oct 6 (Reuters) - Statoil Asa :‍Awarding renegotiated framework agreements to Bilfinger industrier norge as and kaefer energy as for iso services (insulation, scaffolding and surface treatment). Valued at a total of more than NOK 7 billion ($875.01 million), contracts will run until end of 2030​.  Full Article

Bilfinger extends cooperation with Statoil until 2031
Friday, 6 Oct 2017 07:13am EDT 

Oct 6 (Reuters) - BILFINGER SE ::EXTENDS COOPERATION WITH STATOIL UNTIL 2031 WITH EXTENSIVE FRAMEWORK CONTRACT‍​.ORDER PERIOD 13 YEARS, TOTAL VOLUME OF AROUND 400 MILLION EUROS‍​.  Full Article

Statoil partners with Shell, Total on CCS project in Norway
Monday, 2 Oct 2017 06:03am EDT 

Oct 2 (Reuters) - Statoil Asa :Statoil, Shell <<>> and Total ROTF.PA agree to work on a carbon capture and storage (CSS) project in Norway.CO2 captured from onshore industrial facilities in Eastern Norway will be transported by ships to a receiving terminal on the west coast and later by pipes to inject in wells east of the Troll field the Norwegian continental shelf (NCS).First phase of the project could reach a capacity of storing about 1.5 million CO2 tonnes per year.The project, a part of Norwegian authorities' efforts to develop full-scale commercial carbon capture and storage in Norway .State agency Gassnova awarded Statoil a contract to develop the first phase of the storage project in June nL8N1JR4ED.In the future, other countries could potentially send CO2 to be stored on the NCS .  Full Article

KBR awarded EPCM services contract for JVGAS projects in Algeria
Monday, 2 Oct 2017 05:52am EDT 

Oct 2 (Reuters) - KBR Inc :KBR awarded EPCM services contract for JVGAS projects in Algeria.KBR Inc - ‍revenue associated with this project will be booked into backlog of unfilled orders for KBR's engineering & construction business​.KBR Inc - ‍under terms of contract co to provide detail design engineering, procurement services, construction management at in salah gas, in amenas​.KBR Inc - co has been awarded an engineering and project management services contract by JVGAS- a joint venture of Sonatrach, Statoil and BP​.  Full Article

Statoil sets new target for cut in co2 emissions from Norway
Friday, 22 Sep 2017 01:32am EDT 

Sept 22 (Reuters) - Statoil Asa ::Says has achieved its 2015 target of reducing co2 emissions from Norwegian continental shelf (NCS) by 1.2 million tonnes annually from 2008 to 2020.In 2008 the petroleum industry, under the direction of Konkraft, set a collective energy efficiency goal equivalent to 1 million tonnes of CO2 per year between 2008 and 2020. Statoil’s share of this was 800,000 tonnes.In 2015 Statoil achieved this goal, and therefore the company raised its target by 50 percent to 1.2 million tonnes the same year.Aims now to reduce CO2 emissions from the NCS by another 2 million tonnes by 2030, i.e. a total of 3.2 million per year.In August 2016, the petroleum industry, under the direction of the Norwegian Oil and Gas Association, launched an ambition of introducing carbon reduction measures equivalent to 2.5 million tonnes on the NCS by 2030, compared with 2020. Statoil’s share of this is 2 million tonnes.  Full Article

Statoil says subscriptions cut payable Q1 dividend by $340 million
Thursday, 21 Sep 2017 02:34am EDT 

Sept 21 (Reuters) - Statoil Asa :Subscriptions were made for a total of 18,829,884 dividend shares in Q1 dividend issue, reducing dividend payable by approximately $340 million.Approximately 48 pct of shareholders' total net dividend have been used to subscribe for shares in the issue.  Full Article

Fred. Olsen energy have no rigs employed after October-CEO
Wednesday, 13 Sep 2017 10:30am EDT 

Sept 13 (Reuters) - Fred Olsen Energy ::Fred. Olsen Energy CEO Ivar Brandvold says none of its rigs will have jobs after the last contract with Statoil <<>> runs out in October."We expect more opportunities to occur in the second quarter of 2018. We expect very low activity during the winter," Brandvold told Reuters on the sidelines of an industry conference.He earlier told the conference he expected 2017 to be the worst for the company, but it has been positioning itself for the market's recovery.He said the company preferred to stack its rigs instead of marketing those at the rates that cover only operational costs.Fred. Olsen Energy has seven ultra deepwater and mid-water semi-submersible drilling rig .  Full Article

Norway's Statoil expands South Africa exploration portfolio
Thursday, 7 Sep 2017 06:37am EDT 

Sept 7 (Reuters) - Statoil Asa :Adds exploration licenses in South Africa.Has acquired participating interests in two additional offshore frontier blocks, including one operatorship.Has completed a transaction with exxonmobil exploration and production south africa limited (exxonmobil), acquiring a 35% interest in exploration right 12/3/252 transkei-algoa.Operator exxonmobil retains 40% interest, while impact africa holds 25%.License covers approximately 45,000 square kilometres in water depths up to 3,000 metres.Has also completed a transactionwith ok energy ltd, acquiring 90% interest and operatorship in exploration right 12/3/257 east algoa.Remaining 10% interest is held by ok energy. Licence covers approximately 9,300 square kilometres.Transactions strengthen statoil's position in south africa and our long-term exploration portfolio.This is in line with our global exploration strategy of early access in basins with high potential.Statoil entered its first license in South Africa in 2015, acquiring a 35% interest in the ExxonMobil-operated Tugela South Exploration Right.  Full Article

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Statoil launches world's first floating wind farm, aims to cut costs

OSLO/LONDON Norway's Statoil expects floating wind power costs to fall to 40-60 euros per megawatt-hour (MWh) by 2030, the company said on Wednesday after launching the first floating wind farm off Scotland.