Space Industry and Business News  
OIL AND GAS
Aker BP acquires Norwegian assets from Total
by Daniel J. Graeber
Washington (UPI) Jul 31, 2018

Aker BP spent more than $200 million to acquire Norwegian assets from a division of Total, which it said would open access to millions of barrels of oil.

Aker BP, which formed as a result of a tie up with the Norwegian subsidiary of BP, reported Tuesday it agreed to pay $205 million to a Norwegian subsidiary of Total for its interests in 11 licenses in Norwegian waters. The company said the new acreage includes four discoveries with recoverable resources of as much as 83 million barrels of oil equivalent.

"We see a huge value creation potential in maximizing production through our operated production hubs," CEO Karl Johnny Hersvik said in a statement.

Two of the discoveries acquired from Total are close to fields already operated by Aker BP.

Using only its current portfolio, Aker BP by 2023 should be able to produce around 330 million barrels of oil equivalent per day in part because of the recent acquisition of a regional subsidiary of Hess Corp.

One of the first energy companies out with earnings, Aker BP in mid-July reported operating income for the second quarter was $975 million, 64 percent higher than the same period last year.

Because Norway gets much of its own power from renewable energy, it's an important producer for a European economy trying to break the Russian grip on the regional energy sector.

The Norwegian Petroleum Directorate, the nation's energy regulator, reported total production for oil in June averaged 1.48 million barrels per day. That's 3 percent lower than government forecasts and the second month in a row the NPD attributed a decline in production to technical issues.

To keep production going, the government called for a "significant effort" from all players.


Related Links
All About Oil and Gas News at OilGasDaily.com


Thanks for being here;
We need your help. The SpaceDaily news network continues to grow but revenues have never been harder to maintain.

With the rise of Ad Blockers, and Facebook - our traditional revenue sources via quality network advertising continues to decline. And unlike so many other news sites, we don't have a paywall - with those annoying usernames and passwords.

Our news coverage takes time and effort to publish 365 days a year.

If you find our news sites informative and useful then please consider becoming a regular supporter or for now make a one off contribution.
SpaceDaily Contributor
$5 Billed Once


credit card or paypal
SpaceDaily Monthly Supporter
$5 Billed Monthly


paypal only


OIL AND GAS
Total's position boosted by position in LNG
Washington (UPI) Jul 27, 2018
French supermajor Total said Thursday its net production was up nearly 10 percent from last year, driven in part by gains in liquefied natural gas. Total was among the first of the supermajors to release results from the second quarter. Compared with the same period last year, the company's $3.6 billion in adjusted net income was up 44 percent. Chairman and CEO Patrick Pouyanné said a realized average price for oil at $74 per barrel during the second quarter supported growth. "In ... read more

Comment using your Disqus, Facebook, Google or Twitter login.



Share this article via these popular social media networks
del.icio.usdel.icio.us DiggDigg RedditReddit GoogleGoogle

OIL AND GAS
Intense conditions turn nitrogen metallic

Made-to-measure silicon building blocks

Root vegetables to help make new buildings stronger, greener

Manipulating single atoms with an electron beam

OIL AND GAS
Why Ku-band HTS is superior for AISR

Asia is a huge growth market for government SATCOM

DARPA, Lockheed Martin Demonstrate Technologies to Enable a Connected Warfighter Network

IntelsatOne FlexAir Coming This Summer for Government Aircraft Operations

OIL AND GAS
OIL AND GAS
Arianespace orbits four more Galileo satellites, as Ariane 5 logs its 99th mission

Europe's next Galileo satellites in place atop Ariane 5

CTSi flight tests prototype navigation system to replace GPS in highly contested environments for US Navy

Love navigated by Beidou

OIL AND GAS
Iraqi Airways suspends pilots who fought in-flight over food

Airbus profits halved but hopes to meet delivery target

Two pilots killed in Vietnam military plane crash

Alsalam awarded $59.7M contract for Saudi F-15 upgrades

OIL AND GAS
EPFL uses excitons to take electronics into the future

World-first quantum computer simulation of chemical bonds using trapped ions

Generation of random numbers by measuring phase fluctuations from a laser diode

Qualcomm ends tie-up with Dutch-based NXP amid US-China friction

OIL AND GAS
Satellite maps reveal spread of mountaintop coal mining in Appalachia

Preparing to fly the wind mission Aeolus

Red Sea flushes faster from far flung volcanoes

NASA Debuts Online Toolkit to Promote Commercial Use of Satellite Data

OIL AND GAS
High-precision on-site analysis of precious metals in metallurgical waste spills

No day at the beach as toxic algae hit Baltic coast

China steps up controls on maritime emissions

Record 207 environmental activists killed last year









The content herein, unless otherwise known to be public domain, are Copyright 1995-2024 - Space Media Network. All websites are published in Australia and are solely subject to Australian law and governed by Fair Use principals for news reporting and research purposes. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA news reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. All articles labeled "by Staff Writers" include reports supplied to Space Media Network by industry news wires, PR agencies, corporate press officers and the like. Such articles are individually curated and edited by Space Media Network staff on the basis of the report's information value to our industry and professional readership. Advertising does not imply endorsement, agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. General Data Protection Regulation (GDPR) Statement Our advertisers use various cookies and the like to deliver the best ad banner available at one time. All network advertising suppliers have GDPR policies (Legitimate Interest) that conform with EU regulations for data collection. By using our websites you consent to cookie based advertising. If you do not agree with this then you must stop using the websites from May 25, 2018. Privacy Statement. Additional information can be found here at About Us.