Det norske oljeselskap ASA announces that it has entered into a Heads of Agreement with a Contractor regarding lease of a jack-up production unit for the Frøy Field.
Det norske has entered into this Agreement for the purpose of supporting the progress of field development and operation of the Frøy Field in Production License (PL) 364. [...]

State-controlled StatoilHydro ASA has recently told the press that a 37 percent rise in second-quarter profit Friday because of an increase in oil and gas prices and higher production.
The company, based in the western Norwegian city of Stavanger, said profit for the April to June period came to 18.77 billion kroner ($3.7 billion), up sharply [...]

Aluminum and energy group Norsk Hydro ASA told the press that its profit dropped 87 percent in the second quarter on falling sales and higher costs.Net profit was 786 million kroner ($155 million), down from 5.95 billion kroner in the same quarter last year.
Sales dropped 4 percent to 23.98 billion kroner ($4.72 billion) from 25.04 [...]

Major oil companies “have their backs against the wall” when it comes to getting offshore drilling contracts, according to Dahlman Rose & Co. managing director Omar Nokta.
Nokta says Brazil’s national oil company, Petrobras, has aggressively locked up a significant amount of rig capacity. As a result, dayrates have been pushed to record levels.
“We expect the [...]

Petroleum Geo-Services ASA (“PGS” or the “Company”) (NYSE:PGS - News) (OSE:PGS) held its Annual General Meeting on June 15, 2007 at the Company’s premises at Lysaker. The Annual General Meeting resolved to approve all matters as proposed in the Calling Notice, including the proposal in item 3 of a special dividend of NOK 10 per [...]

Petrolia Drilling ASA has on February 1, 2007 entered into an agreement to purchase 25,000,000 shares in Petrojack ASA by way of a share capital increase of 163,204,747 new shares in Petrolia Drilling.
Petrolia Drilling has entered into an agreement to purchase 25,000,000 Petrojack shares from IOT Holding ASA for a total consideration of NOK 550,000,000(equal [...]

Statoil and Hydro have completed a value verification process following the agreement between the companies’ boards of directors to merge Hydro’s oil and gas activities with Statoil.
The intention of the review has been to verify the information exchanged between the parties prior to the conclusion of the agreement.
In connection with the publicising of the merger [...]

The oil ministry on Monday offered oil companies a record 48 exploration licenses for 85 offshore blocks, most near existing fields that Norway hopes will stimulate future production.
Norway, the world’s third largest oil exporter after Saudi Arabia and Russia, began offering unexplored blocks near existing, or mature, finds in 2003 in what it calls Awards [...]

Anglo American Plc , the world’s third biggest mining group, has joined the rush to discover new Philippine mines by seeking permits to explore in a dozen areas in the country, a source close to the firm said on Friday.
Anglo, which has a joint venture with local firm Philex Mining Corp. in the Boyongan copper [...]

Vast petroleum reserves in the Arctic are a key source of world energy, but development must also protect the fragile cold-weather environment and curb greenhouse gases, Norway’s oil minister said Monday.
“If the U.S. Geological Survey is right, 25 percent of the world’s undiscovered petroleum reserves could be found in the Arctic. Thus, the Arctic region [...]