Space Industry and Business News  
OIL AND GAS
More reserves uncovered offshore Norway
by Daniel J. Graeber
Stavanger, Norway (UPI) Dec 23, 2016


disclaimer: image is for illustration purposes only

After reporting production gains, the Norwegian government confirmed a discovery Friday of at least 25 million barrels in its waters of the North Sea.

The Norwegian Petroleum Directorate said it confirmed a discovery for Aker BP in a wildcat well 4 miles away from the closed Frigg field in the North Sea. A wildcat well is one drilled into an area not previously known to hold oil or natural gas reserves.

Based on preliminary data, the NPD put the estimated size of the discovery at between 25 million and 75 million barrels of recoverable oil equivalents.

"The licensees are assessing the discovery along with other nearby discoveries with a view towards potential development," the government regulator said in a statement.

The Norwegian subsidiary of BP joined Norwegian energy company Det norske in June to announce plans to create Aker BP, an independent company they said would be the largest Norwegian independent oil and gas producer. Norwegian oilfield services company Aker, which owned 49.9 percent of Det norske, was included in the arrangement.

Aker BP emerged as a consolidated entity Dec. 1, saying it has "considerable" ambitions for the Norwegian continental shelf. By 2023, the company said it could producte more than 250,000 barrels of oil equivalents per day.

Norway is among the leading oil and natural gas suppliers to the European economy apart from Russia. Preliminary data for November show an average production of 2.15 million barrels of oil, natural gas liquid and an ultra-light product called condensate, which is about 2 percent higher than figures from October.

Average daily production of oil from Norway was 1.74 million barrels, about 9 percent higher than the NPD reported last year and 11 percent higher than expected. Oil production is about 5 percent above the prognosis so far this year.


Comment on this article using your Disqus, Facebook, Google or Twitter login.


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


.


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






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

Previous Report
OIL AND GAS
Total nabs Brazilian pre-salt in Petrobras deal
Paris (UPI) Dec 22, 2016
French energy company Total said it was building up its prospects in South America in a partnership that gives it access to some of Brazil's biggest oil fields. In a deal valued at $2.2 billion, the French supermajor gained access to two of Brazil's largest oil fields in an acquisition of interests from state-supported Petroleo Brasileiro, known more commonly as Petrobras. Both s ... read more


OIL AND GAS
Closer ties for silver clusters

Ultra-small nanocavity advances technology for secure quantum-based data encryption

Rice, Baylor team sets new mark for 'deep learning'

Method enables machine learning from unwieldy data sets

OIL AND GAS
Japan to Launch First Military Communications Satellite on January 24

Intelsat General to provide satellite services to RiteNet for US Army network

NSA gives Type1 certification to Harris radio

Upgraded telecommunications network for Marines

OIL AND GAS
Russia to face strong competition from China in space launch market

Vega And Gokturk-1A are present for next Arianespace lightweight mission

Antares Rides Again

Four Galileo satellites are "topped off" for Arianespace's milestone Ariane 5 launch from the Spaceport

OIL AND GAS
Europe's own satnav Galileo goes live

Galileo, Europe's own satnav, to go online

Europe's own satnav, Galileo, due to go live

Lockheed Martin and USAF move ahead with GPS backup ground system upgrade

OIL AND GAS
Experts 'highly confident' MH370 not in search zone

NASA's Improved Supersonic Cockpit Display Shows Precise Locations of Sonic Booms

Raytheon to provide new F-16 mission computers for U.S. Air Force

Bell-Boeing contracted for V-22 Osprey repair services

OIL AND GAS
Fundamental solid state phenomenon unraveled

Movable microplatform floats on a sea of droplets

Fast track control accelerates switching of quantum bits

Stamping technique creates tiny circuits with electronic ink

OIL AND GAS
Revolutions in understanding the ionosphere, Earth's interface to space

Researchers dial in to 'thermostat' in Earth's upper atmosphere

Study of olivine provides new data for measuring earth's surface

A look at the US cold snap from NASA infrared imagery

OIL AND GAS
RIT researchers estimate 10,000 metric tons of plastic enter Great Lakes every year

Mosul battle leaving legacy of environmental damage

China chokes under heavy smog with worse ahead

Beijing issues red alert for severe air pollution









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.