facebook
twitter
rss
account
search
search
 

Statoil signs $183 million rig deal

Agreement with Schlumberger covers offshore Norwegian operations.
By Daniel J. Graeber   |   Aug. 8, 2014 at 9:19 AM   |   Comments

http://cdnph.upi.com/sv/em/upi/UPI-3191407502210/2014/1/ac13aa81daabaf2ece3042f0a9a91275/Statoil-signs-183-million-rig-deal.jpg
STAVANGER, Norway, Aug. 8 (UPI) -- Norwegian energy company Statoil said Friday it signed a $183 million contract with oil services company Schlumberger for offshore operations.

Statoil awarded contracts to the Norwegian subsidiary of Schlumberger for the Norwegian continental shelf fields Gullfaks, Gullfaks satellites, Snorre, Statfjord, Tordis/Vigdis and Visund.

Statoil said the contract extends for two years and could support as many as 350 jobs.

"[The contract] contributes to Statoil's focus area of safe and efficient drilling," Geir Tungesvik, senior vice president for drilling operations, said in a statement.

Statoil in July said net operating income for second quarter 2014 was down nearly 7 percent to $5.1 billion year-on-year.

In terms of production, the company said it put out about 1.8 billion barrels of oil equivalent during the second quarter, a 9 percent decrease from the same time last year.

Norway is the second-largest supplier of natural gas to Europe after Russia. Nearly three-quarters of the oil it produces is exported to European countries.

Follow @dan_graeber and @UPI on Twitter.
Contact the Author
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Most Popular
1
Tesla could face sales ban in Michigan Tesla could face sales ban in Michigan
2
Early completion of refit of Italian aircraft carrier Early completion of refit of Italian aircraft carrier
3
British Reaper UAVs join the fight against Islamic State British Reaper UAVs join the fight against Islamic State
4
Saudis probe oil pipeline blaze Saudis probe oil pipeline blaze
5
Iran stands by Pakistani gas pipeline Iran stands by Pakistani gas pipeline
Trending News
Around the Web
x
Feedback