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Statoil confirms connection between Aldous and Avaldsnes oil fields; possibly one of 10 largest oil finds ever on the Norwegian Continental Shelf

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Statoil has confirmed communication between the Aldous and Avaldsnes oil discoveries in the North Sea. In combination these discoveries may represent an oil structure of between 500 million and 1.2 billion barrels of recoverable oil equivalent. Norway has not seen a similar oil discovery since the mid-eighties.

Oil 231
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Harvard Kennedy School researcher forecasts sharp increase in world oil production capacity and risk of price collapse

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World oil production capacity to 2020 (crude oil and NGLs, excluding biofuels). Oil production capacity is surging in the United States and several other countries at such a fast pace that global oil output capacity could grow by nearly 20% from the current 93 million barrels per day to 110.6 Source: Maugeri 2012.

Oil 261
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Statoil announces high-impact oil discovery in the North Sea

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Statoil ASA and partners Petoro AS, Det norske oljeselskap ASA and Lundin Norway AS have made a high-impact oil discovery on the Aldous Major South prospect (PL 265) in the North Sea. Well 16/2-8, drilled by the Transocean Leader drilling rig, has identified an approximately 65-meter oil column in Jurassic sandstone.

Oil 199
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Statoil to build the world’s first floating wind farm: Hywind Scotland

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The decision triggers investments of around NOK 2 billion (US$238 million), realizing a 60-70% cost reduction per MW from the Hywind demo project in Norway. The pilot park will cover around 4 square kilometres, at a water depth of 95-120 meters. With fixed turbines, offshore wind is optimal for 20-50 meters water depth.

Wind 191
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A math-based model to describe gas kick in deepwater oil wells

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The deeper an oil well, the higher the pressure, and the higher the risks associated with tapping oil from wells. The main challenge presented in many of these models is the precise prediction of the pressure profile in addition to liquid/gas volumes and flow rates at various points along the oil well.

Oil 199
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Norway-US Project Developing Diesel/Biodiesel, Cool Flame Reformer and Solid-Acid Fuel Cell APU

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Norway’s Nordic Power Systems (NPS) and California-based SAFCell Inc., The project is funded by the Research Council of Norway under its RENERGI program. Unfavourable mixtures of liquid fuels, water and air lead to degradation by local hot spots in the sensitive catalysts and to formation of unwanted by-products in the reformer.

Norway 199
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IEA WEO-2012 finds major shift in global energy balance but not onto a more sustainable path; identifies potential for transformative shift in global energy efficiency

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The WEO finds that the extraordinary growth in oil and natural gas output in the United States will mean a sea-change in global energy flows. barely rises in OECD countries, although there is a pronounced shift away from oil, coal (and, in some countries, nuclear) towards natural gas and renewables. Oil demand reaches 99.7

Global 225