NPD Grants Wintershall Drilling Permit in Blocks 35/8 and 35/11

Norway’s gas industry reported some progress over the last hours, with local authorities granting new drilling permits and a Sevan Marine eying new opportunities in the Arctic and in the FPSO/FSO market. 

‘The Norwegian Petroleum Directorate (NPD) has granted Wintershall Norge AS a drilling permit for well 35/12-5 S, cf. Section 8 of the Resource Management Regulations’ reads a note released by the NPD on Wednesday. 

Wintershall Norge AS is the operator (60%) and teams up with Petoro AS (40%). 

‘The area in this permit consists of parts of blocks 35/8 and 35/11. The well will be drilled about 100 km south-west of Florø and about 20 km north-west of the Fram field.’ 

Meanwhile, Sevan Marine reported a decline in revenue only partially compensated by improved cost and efficiency in the Floating business. The company has also been involved in the Petrobras scandal in Brazil.

‘Arises out of allegations and most recently criminal charges in Brazil against former Sevan Marine employee and agent Mr. Raul Schmidt Felippe Junior in the Brazilian authorities’ investigation into corrupt activities involving Petrobras’ reads a note released on Wednesday.

On the other hand, Sevan thinks to be well positioned in the current market conditions, adding that it intends to capitalise on the FPSO/FSO studies made during the second quarter. 

‘We believe that we should be able to secure a license for one of these projects later this year or in the beginning of next year.’ 

At the same time, the market will remain difficult.  

As for the market in general, we continue to see prospects being postponed or delayed due to continued low oil price and consequent reduction in investment levels.

The company is also working on new concepts for exploration in the Arctic, and it reportedly issued a licence to develop a a new cylindrical rig for Arctic waters.