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Archive for the ‘Arctic’ Category

From the newswires:
StatoilHydro shut in the Statfjord C platform on 25 September after a leak of produced water from platform’s riser.  Production is expected to resume within a few days.
StatoilHydro spokesman Geir Gjervan confirmed that produced water had leaked from the platform’s risers this morning, but said it has spince been plugged.
He added that the [...]

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From the newswires, courtesy Upstream Online:
A federal appeals court has vacated an opinion issued last year that halted Shell’s drilling plans for the Beaufort Sea off Alaska’s northern coast, leaving both sides in the case wondering what the action means.
The 9th US Circuit Court of Appeals on Friday gave no indication whether a change in [...]

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The North Pole in Peril

An excerpt from a well-written opinion piece by Michel Rocard, former Prime Minister of France and leader of the Socialist Party, and a member of the European Parliament.   Go read the complete original piece at Project Syndicate.
Throughout most of human history, ice almost completely barred all navigation in the seas surrounding the North Pole, and [...]

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From the news wires:
Italian producer Eni has stopped work on the Nikaitchuq offshore project on the North Slope in Alaska.
“We were informed by Eni management of their decision to defer the Nikaitchuq project completion. This is not a project cancellation but a decision made by Eni management in recognition of the current oil price and [...]

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From Upstream Online:
The battle for the Arctic’s vast reserves of oil and gas can only be decided by international law, Russia and Denmark declared after talks today.

Five countries with an Arctic coastline – Russia, the US, Canada, Norway and Denmark through its control of Greenland – have competing claims to the region.
Russia said [...]

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From Alexander’s Gas & Oil (Renee Schoof):
With global warming melting the Arctic’s eons-old ice at an alarming rate, shipping and oil companies are looking ahead at how to exploit the new open waters. For the past 30 years, the summer Arctic icepack has been shrinking. In 2007, the melt reached record levels. This past summer, [...]

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From Upstream Online:
The collapse of oil prices has slowed efforts to tap vast crude oil and natural gas supplies that lie under the Arctic Ocean but countries like Russia, Canada and Norway are still vying for a potential bounty of energy riches trapped there.  The potential payoff is huge, the US Geological Survey estimates that [...]

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A nice little graph, from Kevin Banks (ADNR) presentation to the Alaska Legislature.
Bottom line – Prudhoe Bay (PBU) was, and is, the major oil source for Alaska and it’s declining.  The rate of decline can be slowed by improved by technology, but there are no new elephant fields to take its place.  Alaska’s oil gravy [...]

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From the State of Alaska website:
February 19, 2009, Juneau, Alaska – Governor Sarah Palin today noted the ongoing progress the Department of Natural Resources (DNR) continues to make toward its goal of resolving the legal disputes over the Point Thomson area. Earlier this week, ExxonMobil surrendered eight leases in the Point Thomson area, comprising about [...]

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Russia’s Gazprom expects their hydrocarbon reserves on Russia’s Arctic shelf to increase by 41.1 billion barrels oil equivalent by 2020.  Gazprom currently has hydrocarbon reserves equal to about 100 billion tonnes of oil, mostly in the form of natural gas.  The bulk of the reserves (about 70%) are concentrated in the Barents, Pechora and Kara [...]

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