Subscribe to our free daily newsletters
  Oil and Gas News from OilGasDaily.Com  




Subscribe to our free daily newsletters



OIL AND GAS
Lundin exploring new potential in Barents Sea
by Daniel J. Graeber
Washington (UPI) Aug 31, 2017


A new well in Norway's southern waters of the Barents Sea is targeting a prospect thought to hold 244 million barrels of oil equivalents, Lundin Petroleum said.

Lundin's subsidiary in Norway said it started drilling an exploration well in the Børselv prospect in the southern Barents Sea. The company said the well is located near the proved Alta and Neiden oil discoveries and about 11 miles northwest of another discovery well.

"The Børselv prospect is estimated to contain gross unrisked prospective resources of 244 million barrels of oil equivalent," the company said in a statement.

Lundin made discoveries near the Børselv prospect about three years ago. A fourth appraisal well was drilled in the Alta discovery in May and the company put the estimated reserves there at between 125 million and 400 million barrels of oil equivalent.

Addressing some of the concerns about operations in frigid northern climates, the company said the part of the Barents Sea where it's focusing is located is ice-free because of the Gulf Stream. A handful of Greenpeace activists were arrested mid-August after protesting in the Barents Sea against drilling operations conducted by Norwegian energy company Statoil.

Norway is one of the largest oil and gas producers in the world and an important part of European energy security because it designates nearly all of what it produces offshore for exports.

Preliminary figures from July show total average daily production of oil, natural gas liquids and condensate, an ultra-light form of oil, was 2 million barrels, an increase of 93,000 barrels per day from the previous month.

Lundin, which has headquarters in Sweden and an operational focus in Norway, posted revenue for the three months ending June 30 of $464.6 million, more than twice that of the same period last year. Production for the year should be between 80 million and 85 million barrels of oil equivalent per day, an upward revision from the previous estimate. Operating costs, meanwhile, should move lower by about 6 percent.

OIL AND GAS
Michigan agencies concerned by gaps in Great Lakes oil pipeline coating
Washington (UPI) Aug 31, 2017
State agencies in Michigan said they were concerned by evidence showing gaps in a protective coating on a pipeline system in the northern Great Lakes. Pipeline operator Enbridge is facing push back from residents in the northern part of Michigan's lower peninsula worried about the integrity of Line 5, a pipeline system running through the Mackinac Straits. The company said it felt the s ... read more

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

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
Researchers identify cheaper, greener biofuels processing catalyst

Technique could aid mass production of biodegradable plastic

How a bacterium can live on methanol

Cyborg bacteria outperform plants when turning sunlight into useful compounds

OIL AND GAS
Moscow gets its first traffic signals powered by renewable energy

Perovskite solar cells go single crystal

Shape-shifters soak up sunshine

Photosynthesis discovery could help design more efficient artificial solar cells

OIL AND GAS
Saudi Arabia shortlists 25 bidders for major wind plant

First foundations set for Baltic Sea wind farm

Wind energy blows up storm of controversy in Mexico

U.S. extends wind energy taproots into Zambia

OIL AND GAS
Kazakhstan inaugurates IAEA-backed nuclear fuel bank

2018 start for Russia-backed nuclear plant work:

Fukushima operator faces $5 bn US suit over 2011 disaster

UAE nuclear programme edges toward 2018 launch

OIL AND GAS
Methane from tundra, ocean floor didn't spike during previous natural warming period

Research identifies new microbe with potential to help rebalance Earth's nitrogen cycle

Study gives first proof that the Earth has a natural thermostat

Incomplete drought recovery may be the new normal

OIL AND GAS
Nanoparticles pollution rises 30 percent when flex-fuel cars switch from bio to fossil

New emissions test necessary for new vehicles in the EU

New liquid-metal membrane technology may help make hydrogen fuel cell vehicles viable

Uber to resume Philippine service 'soon' after fine

OIL AND GAS
Iraq fighters take 'victory selfies' at Tal Afar citadel

IS evacuation deal sparks Iraqi outrage

Iraqi forces poised for victory over IS in Tal Afar

Keeping cool in combat: in Iraq the iceman cometh

OIL AND GAS
Trump keeps Iran deal, but threatens more sanctions

S. Korea seeks rare talks with North to ease military tensions

US sending mixed messages on Iran nuclear deal: Zarif

US-China citizen gets 10 years for spying in Iran; 2 Iranians charged in US over hacking




Memory Foam Mattress Review
Newsletters :: SpaceDaily :: SpaceWar :: TerraDaily :: Energy Daily
XML Feeds :: Space News :: Earth News :: War News :: Solar Energy News






The content herein, unless otherwise known to be public domain, are Copyright 1995-2017 - 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. Privacy Statement