A platform in Norway
Norwegian independents diverge on Barents
Aker BP gives up on Arctic exploration, but Lundin expands its presence
“The Stangnestind well was completed early in the [third] quarter and came in as a minor gas discovery, which is not considered to be commercial,” says Karl Johnny Hersvik, CEO of Oslo-listed producer Aker BP. “This actually marks the end of our exploration campaign in the Barents Sea, and we have currently no plans for further activity in the area.” In sharp contrast, its peer Lundin Energy struck a deal with Austria’s OMV at the end of October to increase its stake in the Barents Sea Wisting oil discovery from 10pc to 35pc, just over a year after the purchase of the Norwegian continental shelf (NCS) assets of Japan’s Idemitsu gave it an initial share in the field. So what is driving these
Also in this section
18 November 2024
The company is on track to boost import terminal capacity by 40% in three years, CEO Akshay Kumar Singh tells Petroleum Economist
15 November 2024
With Chevron and AIM-listed Challenger Energy having completed their Uruguayan farm-out deal, Challenger CEO Eytan Uliel updates Petroleum Economist on the firm's progress in the frontier basin
14 November 2024
The country is seeking to secure its position as a major global refiner and meet rising domestic requirements
13 November 2024
IOCs are focused on the next wave of exploration activity in Namibia and are keen to learn from one another’s results
