Equinor, Faroe Petroleum in Asset Swap
Britain's Faroe Petroleum has agreed to swap oil and gas fields with Norwegian state firm Equinor as it fights a hostile takeover from Norwegian oil and gas operator DNO.It appears that Faroe in fight-back mode after DNO’s so-called ‘opportunistic’ bid.The oil and gas company focusing principally on exploration, appraisal and production opportunities…
Equinor to Start Talks With Tanzania Over LNG project
Norway's Equinor is ready to start talks with Tanzania on developing a liquefied natural gas (LNG) project based on a deepwater offshore discovery, the company said on Tuesday.Tanzanian President John Magufuli has asked his government to proceed with negotiations to set out the commercial and fiscal framework for the LNG project, Equinor, a majority state-owned energy company formerly known as Statoil, said."Equinor will now procee
BP and Equinor Spending Steady
The spending plans of oil majors BP and Equinor are unaffected by the more than 25 percent drop in oil prices since early October, their CEOs said on Wednesday.Oil and gas companies were boosted over the first nine months of the year by a recovery in crude prices as years of cost cuts started to kick in. But the drop in oil prices from more than $85…
Big Oil Digs North Sea's 'Final Frontier'
"Little hope of THIS rock ever producing oil," BP geologist Bill Senior scribbled in 1977 on a note assessing a recent oil discovery in a distant corner of the North Sea.That same rock is today the heart of BP's prized Clair field in the West of Shetland region, which this week started its second phase of production.The giant bridge-linked Clair Ridge…
Norway's Equinor strikes LPG Deal with Malaysia
Norwegian oil and gas firm Equinor has entered into a long-term agreement with Malaysia's Global Petro Storage for a terminal and storage for liquified petroleum gas (LPG) volumes in Port Klang, in South-East Asia.According to statement from the petroleum and wind energy company, GPS will build a new facility to execute this agreement with startup of operations planned for mid-2021.
Eni Norge Granted Drilling Permit
The Norwegian Petroleum Directorate (NPD) has granted Eni Norge AS a drilling permit for well 7122/7-7 S, cf. Section 15 of the Resource Management Regulations.The well will be drilled from the West Hercules drilling facility after concluding the drilling of wildcat well for Equinor Energy AS.The drilling programme for well relates to the drilling of an appraisal well in production licence 229.
Equinor Energy Strikes Gas in Barents Sea
Norwegian multinational energy company Equinor Energy has made discovery containing up to 24billion cubic feet of gas in the Barents Sea. Two exploration targets were found, with the first containing between 10 and 20billion cubic feet, the other between one and four billion.The discovery’s profitability is currently unclear, said a statement from…
Norway Oil Firms Raise 2019 Investment Forecast
Oil and gas companies operating in Norway have raised their investment forecasts for 2019 to 175.3 billion Norwegian crowns ($20.6 billion) from 165.1 billion seen in August, a survey by the country's statistics agency (SSB) showed on Thursday.Investments for 2018 were revised down to 155.5 billion crowns from 156.3 billion, it added.However, upcoming…
Chevron: First Oil From Big Foot
U.S. supermajor Chevron announced that its operated Big Foot deepwater project in the U.S. Gulf of Mexico has started crude oil and natural gas production.The field is located approximately 225 miles (360 km) south of New Orleans, La., in a water depth of approximately 5,200 feet (1,584 m.). The Big Foot field was discovered in 2006, is estimated…
Johan Castberg Topside Construction Begins
Norwegian minister of petroleum and energy Kjell-Børge Freiberg cut the first sheet for the topside of the Johan Castberg floating production, storage and offloading unit (FPSO) at Kværner's yard at Stord on Wednesday as part of a large scale project triggering ripple effects throughout Norway.The topside will be installed on the 200-meter long FPSO…
Equinor Plans More International Wells
Norwegian oil and gas firm Equinor plans to drill more exploration wells internationally and more onshore wells in 2019 compared to this year, the company's head of exploration said on Tuesday."In general, there will be more international activity, and a larger share of onshore activity," Tim Dodson told Reuters on the sidelines of an Equinor conference.Equinor's plans include high-impact wells off Canada, the United States, Mexico
Oil Markets Face Unprecedented Uncertainty
Oil markets are entering an unprecedented period of uncertainty due to geopolitical instability and a fragile global economy, the head of the International Energy Agency said on Tuesday.Concerned about an emerging production overhang similar to the one that led to a price slump in 2014, the Organization of the Petroleum Exporting Countries is pushing…
Equinor Eyes More Russian Gas to Europe
Russian gas deliveries to northwest Europe will likely continue to grow in the time ahead, Norwegian oil and gas producer Equinor told an investor conference on Tuesday.In the third quarter, Russian deliveries to the region expanded to 59 billion cubic meters from 50 bcm in the same period of 2017, the company added.(Reporting by Lefteris Karagiannopoulos, editing by Terje Solsvik)
Equinor Makes Solar Energy Push
Norway's Equinor has bought a 9.7 percent stake in renewable energy producer Scatec Solar, raising its ownership to 10 percent, the state-controlled energy firm said on Thursday."The investment in Scatec Solar will increase Equinor’s exposure to a fast growing renewable sector, further complementing Equinor's portfolio with profitable solar energy," Equinor said in a statement."This is in line with our strategy to develop into a br
Angola Battles to Revive Oil Exploration
On Saturday, nearly two decades after securing the initial rights, Total's CEO Patrick Pouyanné was in Luanda to snip the ribbon on a $16 billion oil project. It's not clear when he, or his peers, will be cracking open the bubbly in Angola again.Without another mega-project like Total's Kaombo on the horizon and fields getting old, Africa's second…
Offshore Platforms Controlled from Land
Aker BP said it will become the first oil company in Norway to control operations of a permanently manned offshore platform from land from next year.Operating platforms remotely can be done with fewer staff than doing it offshore and other oil companies are also looking to do so to reduce production costs.Aker BP said Norway's oil safety watchdog…
Sture oil export terminal operates as normal
Norway's Sture oil export terminal was operating as normal on Tuesday despite the nearby sinking of a shipwrecked navy vessel, operator Equinor said.The terminal was shut for several hours last Thursday after the Norwegian frigate collided with an oil tanker near the terminal."We are in normal operations.
Big Oil Spent 1% on Green Energy in 2018
Top oil and gas companies jointly spent around 1 percent of their 2018 budgets on clean energy, but investments by Europe's giants vastly outpaced their U.S. and Asian rivals, a study showed.Companies such as Royal Dutch Shell, Total and BP have in recent years accelerated spending on wind and solar power as well as battery technologies, seeking a…
Digitalization Can Save Upstream Business $73 Bln a Year
Energy firms could save an annual $73 billion within five years in oil and gas exploration and production by making better use of existing computing technology, energy consultancy Wood Mackenzie said.Exploration and production, known as the upstream industry, requires energy firms to analyze huge amounts of seismic and geological data and to monitor and maintain offshore platforms and other complex assets…
Aquaterra Bags More Johan Sverdrup Work
Aquaterra Energy announced Thursday it has been awarded a contract by Equinor to deliver early well construction operations for the next 16 wells of the Johan Sverdrup field development in the Norwegian North Sea.The award follows Aquaterra Energy’s Phase I Tie-Back project for the engineering of nine complete strings of centralizers and tieback engineering services…
