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Equinor partners with Algeria’s Sonatrach for oil and gas exploration
May 25, 2021

Equinor partners with Algeria’s Sonatrach for oil and gas exploration

Equinor has partnered with Algeria’s state-owned oil company Sonatrach to examine cooperation in global oil and gas exploration and production. Equinor, together with BP and Sonatrach, is involved in the development and production of two gas fields in the country, In Salah and In Amenas. The In Salah dry gas project, which delivered the first gas in August 2004, involves seven gas fields in the central Sahara area. Claimed to be the fourth-largest gas development project in Algeria, the In Amenas gas project was commissioned in 2006. It is located about 1,200km from the coast, towards the Libyan border.

Renewables to grow far faster than oil sector, Rystad says
May 7, 2021
Source: Energy World

Renewables to grow far faster than oil sector, Rystad says

Renewable energy will account for a far larger share of global supply in 2050 than major oil companies or the International Energy Agency (IEA) expect, Oslo-based consultancy Rystad Energy said on Thursday. Its updated models show renewables meeting 74 per cent of total energy demand by 2050, compared to 43 per cent, 45 per cent and 69 per cent in the most aggressive scenarios from energy firms Equinor, Shell and BP.

Equinor and Polenergia awarded CFD for Polish offshore wind
May 6, 2021
Source: Energy Global

Equinor and Polenergia awarded CFD for Polish offshore wind

Poland’s Energy Regulatory Office (ERO) has announced that Equinor and Polener-gia’s Baltyk II and Baltyk III projects were awarded contracts for difference (CfD) under the first phase of Poland’s offshore wind development scheme. The projects, with a com-bined potential capacity of 1440 MW, are among the first to secure offshore wind awards in Poland.

Equinor taps Aker Solutions to cut CO2 emissions on Troll B & C platforms
Feb. 17, 2021
Source: world oil

Equinor taps Aker Solutions to cut CO2 emissions on Troll B & C platforms

Aker Solutions has secured a letter of intent from Equinor for the topside work on the Troll B and C platforms offshore Norway to reduce the CO2 emissions. Modifications include installation of equipment for receiving electrical power from shore via cable. This will replace power generation from gas turbines at the platforms, and thus reduce climate footprint. Scheduled for completion at the end of 2025.

Equinor exits Bakken shale with $900MM sale to Grayson Mill Energy
Feb. 11, 2021
Source: world oil

Equinor exits Bakken shale with $900MM sale to Grayson Mill Energy

Transaction covers all of Equinor’s operated and non-operated acreage, totaling 242,000 net acres, and associated midstream assets in the Bakken. “Equinor is optimizing its oil and gas portfolio to strengthen profitability and make it more robust for the future,” says Anders Opedal, president and chief executive officer of Equinor. The effective date of the transaction is 1 January 2021. Closing is subject to the satisfaction of customary conditions, including authority approvals.

UK oil and gas group names Equinor SVP as board co-chair
Feb. 8, 2021
Source: world oil

UK oil and gas group names Equinor SVP as board co-chair

The leading representative body for UK oil and gas has today announced appointment of a new co-chair to its board, Arne Gürtner, Senior Vice President UK & Ireland Offshore at Equinor, as the sector focuses on industry’s recovery whilst meeting net-zero targets for 2021. Arne leads organisation supporting Equinor’s UK and Ireland upstream activities, which includes Mariner development and Rosebank.

Equinor writes off its Tanzania LNG project
Feb. 1, 2021
Source: World oil

Equinor writes off its Tanzania LNG project

Equinor has decided to write down book value of its Tanzania LNG project (TLNG) on company’s balance sheet by 982million USD. Equinor is operator with 65% participating interest, along with ExxonMobil’s working interest of 35%. TPDC has the right to participate with 10% interest. Equinor made nine gas discoveries in Block2 offshore Tanzania with estimated volumes of 20Tcf of GIP.

Equinor's forecast shifted for the peak oil demand
Nov. 17, 2020
Source: Reuters

Equinor's forecast shifted for the peak oil demand

Equinor expects the global oil demand to peak 2 years prior to what it has stated earlier i.e 2030 as a repercussion of the COVID-19 pandemic. Equinor is forecasting that by around 2025 the oil demand will be returning to the pre-pandemic level of 100 million bpd and will fall to 88 million bpd in 2050 as far as the current scenarios are concerned.

World's first drone operation to deliver equipment offshore
Aug. 29, 2020
Source: World Oil

World's first drone operation to deliver equipment offshore

Equinor has claimed a “world-first” with the use of a drone to deliver lifeboat system parts offshore. A drone flew from the Mongstad base to the Troll A platform in the North Sea. The flight spanning around 80 kilometers to the Troll field took about one hour, at an altitude of approx. 5000 feet. The flight was a test, the world’s first of its kind.

Equinor to cut jobs, considering oil price fall
Aug. 27, 2020
Source: Reuters

Equinor to cut jobs, considering oil price fall

Equinor is set to cut jobs significantly in the United States, Canada and Britain to compensate to a fall in oil prices They plan to cut employee numbers in those countries by about 20% and contractor numbers by around half. Equinor will also not drill any new unconventional wells this year in the United States, where it has claims in the Bakken and Marcellus shale formations.

Equinor Appoints New CEO With Oil Giant Shifting Focus
Aug. 11, 2020
Source: Reuters

Equinor Appoints New CEO With Oil Giant Shifting Focus

Equinor has appointed Anders Opedal as its new Chief Executive as the Norwegian oil and gas group looks to speed up a move into renewable energy. The new CEO, who had been Equinor’s head of technology, projects and drilling and is the first engineer to lead the company, replaces Eldar Saetre who will retire after more than 40 years at Norway’s biggest company. Opedal’s appointment is effective from Nov. 2.

Equinor beats earnings expectations despite coronavirus slump
July 27, 2020
Source: Reuters

Equinor beats earnings expectations despite coronavirus slump

Equinor on Friday reported a drop in second-quarter operating profit but a strong performance from its refinery and trading business helped to counter the drop. Equinor’s three ventures, E&P Norway, E&P International and E&P USA, made losses, but profits increase at its refinery and trading division. The Norwegian government has imposed oil output limits from June-December this year, backing efforts by the OPEC+ and others to support prices.

Aker Solutions introduces a new workover system for safe well processes
June 17, 2020

Aker Solutions introduces a new workover system for safe well processes

The Norwegian engineering firm, Aker Solutions has developed a new workover system to enable safe well access for subsea installation and completion. The system vouches to enable faster and cost-effective planned well interventions. The company noted that the new workover concept will first be applied to Norwegian firm Equinor’s Visund field in the northern part of the North Sea. The field has a water depth of 335m.

US oil, gas consortium completes successful blockchain pilot
June 3, 2020
Source: Reuters

US oil, gas consortium completes successful blockchain pilot

The OOC Oil & Gas Blockchain Consortium has concluded a blockchain pilot with Data Gumbo for automating water management at the Bakken shale field in North Dakota. The trial was able to reduce process workflow to less than a week, down from 90-120 days. The OOC Consortium consists of ten prominent oil and gas players namely Chevron, ConocoPhillips, Equinor, ExxonMobil, Hess, Marathon Oil, Noble Energy, Pioneer Natural Resources, Shell and Repsol.

Saipem and Equinor ink major services pact
May 28, 2020

Saipem and Equinor ink major services pact

Italian firm Saipem has signed a two-year frame agreement with Norway’s Equinor covering engineering services worldwide. The frame agreement includes assistance for Equinor’s upcoming onshore, offshore and floating wind sector projects, as well as feasibility and conceptual studies, detailed engineering and related support for R&D activities. The scope of the frame agreement extends to offshore trunklines and routing design for products such as umbilicals, cables, static flexibles and power cables.

Equinor, Shell, Total to invest in CCS project in Norway
May 19, 2020

Equinor, Shell, Total to invest in CCS project in Norway

Equinor, Total and Shell intend to set up a joint-venture company and initially invest close to NOK 6.9 billion (USD 682.3m/EUR 629.4m), with some 57% of the amount going to Norwegian contractors. Northern Lights is part of the Norwegian full-scale CCS project which will include capturing carbon dioxide (CO2) from up to two industrial plants.

Equinor rejects climate resolution proposals
May 15, 2020
Source: Reuters

Equinor rejects climate resolution proposals

Equinor’s shareholders, dominated by the Norwegian government, rejected all climate resolutions proposed at their annual general meeting on Thursday. One of the resolutions was proposed by “Follow This”, a group that represents about 5,400 green-minded shareholders in oil and gas companies, called for adjusting Equinor’s climate targets in line with the 2005 Paris Agreement on global carbon dioxide (CO2) emission reductions. Their efforts rendered futile.

Maersk Intrepid secures work from Equinor
May 2, 2020

Maersk Intrepid secures work from Equinor

Offshore drilling contractor, Maersk Drilling has landed drilling work contract for Maersk Intrepid from Equinor at the Martin Linge field, offshore Norway. Made for carrying out work in ultra-harsh environments, the jack-up rig will commence work in September this year and will drill three wells and plug one on the Martin Linge field. The contract also involves managed pressure drilling (MPD), slop treatment, cuttings handling and tubular running services.

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