Tag Archives: Equinor

Bloomberg: North Sea Oil Poised for Last Hurrah With Giant Norway Field

Business News, Energy,

The rise of a huge new Norwegian oil field is poised to give North Sea output one of its biggest boosts in years. The surge won’t last.

 

Johan Sverdrup, one of the five largest offshore oil fields ever discovered in Norway, has been given the green light to begin production, with operator Equinor ASA scheduled to start loading crude onto tankers as soon as next month. The field will single-handedly deliver the biggest increase in oil production for Norway next year since the 1980s. While that’s good news for its owners and Norway, the North Sea will still have to grapple with declines in supply from more mature fields that have been operating since the 1970s.

 

The problem for North Sea producers is that there’s just no other project under development that comes close to Sverdrup in scale. The next biggest field due to start by the end of 2020 is Martin Linge, according to Energy Aspects Ltd. Also part of Equinor’s pipeline, it pales in comparison.

Read entire article HERE.

Reuters: Norway’s CO2 seabed storage project gets boost from industry, EU

Business News, Energy, ,

OSLO (Reuters) – Norway’s Equinor signed preliminary agreements on Thursday with seven potential industrial customers for its project to develop carbon dioxide storage under the North Sea, a crucial step toward securing state funding.

The project, called Northern Lights and led by Equinor in partnership with Shell and Total, is part of the country’s efforts to combat climate change.

Proponents of carbon capture and storage (CCS) say countries need the technology to help fulfill pledges made on the heels of the breakthrough Paris climate change agreement in 2015.

Read entire article HERE.

E24: Equinor løfter blikket mot verdensrommet: – Viktig å gå litt ut av komfortsonen

Business News, Energy, ,

For første gang sender oljegiganten strategisk ledelse til Spaceport Norway i Trondheim på jakt etter ny teknologi – og en liten dråpe finansiell edruelighet. 

– Romindustrien er langt fremme på teknologiutvikling og har åpenbare likheter med olje- og gassbransjen fordi begge opererer i «confined spaces» og «harsh environments», ofte uten å sende inn mennesker, sier Kristian Fjelde, leder for strategisk utvikling i Equinor, til E24. 

Den voksende romkonferansen Spaceport Norway har forlatt oljebyen Stavanger til fordel for Trondheim, men det hindrer ikke Equinors strategisk ledelse fra å ta turen for første gang. 

– Equinor er alltid på jakt etter nye innfallsvinkler. Vi har vært engasjert i denne typen konferanser tidligere, blant annet i regi av ESA, så flere av våre miljøer er allerede tett koblet på romindustrien, sier Fjelde i Equinor. 

– Det er ikke en industri vi tenker strategisk på til daglig, men det er viktig å gå ut av komfortsonen for å løfte en annen type kreativitet til overflaten. 

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E24: Equinors milliardkjøp i Mexicogolfen er gjennomført

Business News, Energy, , , ,

Equinor opplyste i mai at de har utøvd en fortrinnsrett til å kjøpe ytterligere 22,45 prosent av oljefeltet Caesar Tonga i den amerikanske delen av Mexicogolfen.

Andelen er kjøpt av Shell for 965 millioner dollar (8,7 milliarder kroner med dagens kurs).

Nå melder Equinor at avtalen har blitt godkjent av det amerikanske myndighetsorganet Bureau of Ocean Energy Management, og at kjøpet er gjennomført.

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E24: Equinor vil bygge verdens største flytende havvindpark

Business News, Energy, , , ,

Equinor, Korea National Oil (KNOC) og det koreanske kraftsselskapet Korea East-West Power (EWP) har etablert et konsortium til å utvikle det flytende havvindprosjektet Donghae 1 utenfor Ulsan i Sør-Korea, skriver Equinor i en melding torsdag.

– Dersom vi lykkes med å realisere prosjektet, vil det flytende havvindprosjektet Donghae bli verdens største flytende havvindpark, over dobbelt så stort som Hywind Tampen-prosjektet på norsk sokkel, sier Stephen Bull, direktør for vindkraft og karbonfangst i Nye energiløsninger, i pressemeldingen. 

Hywind Tampen i Nordsjøen skal etter planen installere elleve vindmøller med 8 megawatt-turbiner, og delelektrifisere inntil fem installasjoner på sokkelen, ifølge Sysla. 

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Reuters: Exxon Mobil seeks bids for Norwegian offshore assets

Business News, Energy, ,

OSLO (Reuters) – Exxon Mobil is considering selling all of the stakes it holds in oil and gas fields off the Norwegian coast, a spokeswoman said.

Two years ago the U.S. major – the world’s largest oil company – sold its operated assets in the area. But it has retained stakes in more than 20 other fields, including Equinor-operated Snorre and Shell-operated Ormen Lange.

“Following interest expressed by several parties, Exxon Mobil has decided to open a data room to test the market interest for the upstream portfolio in Norway,” Anne Fougner said, adding that no decision to sell had yet been made.

Read entire article HERE.

Equinor: Awarding contracts worth NOK 2.5 billion

Business News, Energy,

Equinor has awarded drilling service contracts at a total value of about NOK 2.5 billion, exclusive of options, to several suppliers. The services will be delivered to both new and existing fields on the Norwegian continental shelf.

Contracts for services related to liner hangers were signed in Equinor’s digital laboratory at Forus, Stavanger, on 14 May. Contracts for additional completion and downhole monitoring have been signed earlier.

“These contacts will help us continue our safe and efficient drilling and well operations. The suppliers are specialists that we have worked with before, and we know what they stand for. We look forward to continuing our good cooperation,” says Geir Tungesvik, Equinor’s senior vice president, Drilling & Well.

The total contract value for these services is estimated at about NOK 2.5 billion for the 3-year fixed contact term. In addition, there are five 2-year options for all awards.

Read entire article HERE.

World Oil: Equinor increases share in deepwater Gulf of Mexico from Shell

Business News, Energy, ,

STAVANGER — Equinor has exercised its preferential rights to acquire an additional 22.45% interest in the Caesar Tonga oil field from Shell Offshore Inc for a total consideration of $965 million in cash. This will increase Equinor’s interest from 23.55% to 46.00%. Anadarko remains the operator with a 33.75% interest, and Chevron retains its 20.25% interest.

The Caesar Tonga field is located 180 mi (290 km) south-southwest of New Orleans in the Green Canyon area and is one of the largest deepwater resources in the U.S. Gulf of Mexico.  Equinor’s current share of production from Caesar Tonga is 18,600 boepd (net to Equinor).

“We are pleased to increase our presence in the U.S., one of our core areas. This is an asset we understand well, and our larger interest will deliver significant additional free cash flow from day one”, says Christopher Golden, Equinor’s senior vice president for Development and Production International, North America Offshore.

Read entire article HERE.

World Oil: Equinor reports “profitable” oil discovery from the Visund A platform

Business News, Energy, , , ,

STAVANGER — Equinor has, together with partners Petoro, ConocoPhillips and Repsol, made an oil discovery from the Visund A platform in the Telesto exploration well in the North Sea. The resources are estimated at 12-28 MMbbl of recoverable oil.

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Source: Equinor

“We are pleased to have made a new discovery on Equinor-operated acreage on the Norwegian continental shelf (NCS). These are profitable barrels that can be quickly tied in to existing infrastructure and generate substantial revenues for society. Infrastructure-led exploration is an important part of our roadmap for the NCS,” said Nick Ashton, Equinor’s senior V.P. for exploration in Norway and the UK.

Read entire article HERE.

Aftenposten: Norsk gass kan bli utkonkurrert lenge før det går tomt på norsk sokkel

Business News, Energy, , , ,

Equinor ser lyst på fremtiden for norsk gass, særlig fordi Tyskland skal fase ut kullkraft. Men selv europeiske energiselskaper sår nå tvil om det er gass som blir vinneren. Energiselskaper tror på batteri og sol.

Ifølge lekkasjer til nyhetsbyrået Bloomberg News kan gassindustrien være for optimistisk. Kull kan fremover bli erstattet av vind og sol kombinert med en forbedret batteriteknologi, i stedet for gass.A

Ifølge studien de omtaler, som er betalt av europeiske energiselskaper, og som ennå ikke er publisert, mener man at gassetterspørselen i Tyskland, Frankrike, Nederland, Belgia og Storbritannia kan falle så mye som 16 prosent de neste 10 årene (målt mot nivået i 2016).

Da mener man at sol og bedre batteriteknologi vil være så kostnadseffektiv at det blir den foretrukne måten å lage elektrisitet på.

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