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OIL AND GAS
Gas leak stops North Sea production
by Daniel J. Graeber
Stavanger, Norway (UPI) Feb 19, 2015


disclaimer: image is for illustration purposes only

It's too early to say when production from the Gudrun platform in the North Sea will resume following reports of a gas leak, Norway's Statoil said Thursday.

The Petroleum Safety Authority in Norway said production at the North Sea platform was closed as a result of a gas leak. The PSA said the size of the leak was not yet determined.

Statoil press spokesman Orjan Heradstveit said in response to email questions there were no injuries to the platform's staff and no environmental damage came as a result of the release.

"We're investigating the incident," he said. "It's still a little early to say when we'll resume production."

Statoil, alongside its partners at French energy company GDF Suez and Austria's OMV, started production at Gudrun in April. The company said the field should produce as much as 184 million barrels of oil and gas equivalent over its lifespan.

Gudrun is Statoil's first new operation on the Norwegian continental shelf in nearly a decade. The field itself was discovered in 1975. The company described it as a megaproject, representing more than $1.9 billion in investments for Statoil.

Norway is a regional leader in oil and natural gas production, helping to meet the energy needs of its neighbors. Hydrocarbons produced from Gudrun are sent to onshore production facilities and then on to European consumers through existing pipeline networks.


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OIL AND GAS
Halliburton, Baker Hughes plan stakeholder meeting
Houston (UPI) Feb 18, 2015
Oil and gas services companies Baker Hughes and Halliburton unveiled plans to review stakeholder options for the planned Halliburton takeover. Halliburton made a move to acquire rival Baker Hughes in November. David Lesar, Halliburton's top executive, said the combined company would create a "bellwether global oilfield services company" that would trade under the Halliburton ticker, HA ... read more


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