Equinor NEWS

Norwegian oil major, Equinor has granted the £85m jacket supply contract for the Johan Sverdrup project to Kvaerner. Under the scope of the contract, Kvaerner will carry out engineering, procurement and construction (EPC) of the steel substructure for the second processing platform in Johan Sverdrup field. The 12,300-tonne substructure is expected to be installed in spring 2021.

Equinor has signed a framework agreement with Norway Rowan. The Rowan Stavanger jack-up rig has won a £17.7million contract for drilling work at Equinor’s Gurdrun field. Under the scope of the contract, the rig will drill two wells for five months. It has five extension options that are not included in the initial contract value. The framework agreement gives the operator exclusive rights to the rig.

Norwegian oil major, Equinor has entered into an agreement to farm out its non-operated interests in the Tommeliten discovery to PGNiG. The Tommeliten field, containing gas/condensate, was discovered in 1976. This $220 million transaction follows the recent sale of Equinor’s King Lear discovery to Aker BP. Equinor will also divest its 30% stakes in another block of acreage. ConocoPhillips is the operator of both the blocks.

BASF-owned Wintershall has received green light to go ahead with drilling operations at the Marisko Prospect in the Norwegian Sea. Wintershall will deploy Transocean Spitsbergen rig for carrying out the drilling process on the prospect. Operations at the prospect are expected to last 61 days. If a discovery is made, operations will continue for 93 days. Repsol, OMV and Equinor are stake holders of Marisko prospect where Wintershall is the operator.

China's state-owned CNPC yesterday agreed on collaborating with Norwegian energy major, Equinor for oil and gas exploration, renewables and carbon capture technology. The firms inked an MOU to explore opportunities in tapping unconventional gas resources in China, apart from partnering at global oil and gas projects. Relations between China and Norway had soured over the Norwegian Nobel Committee awarding its Peace Prize to jailed dissident Liu Xiaobo in 2010.

Norwegian oil giant, Equinor has sold its 77.8% interests in the King Lear discovery to Aker BP in a multi-million dollar deal. First discovered in 1989, King Lear is a gas /condensate asset in the North Sea. Net recoverable resources are estimated at 77 million barrels of oil equivalent. The final transaction in this regard is subject to customary conditions.

Royal Dutch Shell and Equinor ASA have informed that they are committed to the project that will allow export of Tanzanian natural gas. The proposal to build LNG plant is in process since 2014 but has been surrounded by uncertainties in Tanzanian policy. The project is worth $30 million. Shell’s spokeswoman said, “For now, the focus is on agreeing to the Host Government Agreement that is to set the legislative, regulatory and fiscal terms for the project”.

Equinor has awarded a 5-month contract to Maersk Drilling AS and the Maersk Intrepid rig. These companies will provide operational support on the Martin Linge field. Maersk Intrepid rig has a deal until April 2019 which has now been extended to two one-month contracts. Four new two-month extension options will also be provided to the Interpid. The deal is estimated more than £30 million.

Europe’s leading E&P Company, Lundin Petroleum will acquire Equinor’s 15% in the Norway’s license including the discovery of Luno II. The deal involves the transfer of 20% stake in the Rungne to Equinor. This acquisition will increase Lundin’s interest in PL359 to 65%. The transaction date has been decided as January, 2018 and completion is the matter of government approvals.

Equinor has strengthened its alliances with the global service provider companies, TechnipFMC and Aker Solutions. After entering into several framework agreements with both supplies in December 2017, new collaboration agreements have been signed recently to “establish a framework to ensure continuous improvements”. The main objective of this collaboration is to improve the safety, quality, cost and technology by subsea operation services and project execution.

If sources were to be believed, Royal Dutch Shell is planning to farm out some more assets to balance out the BG Group acquisition in 2016. Shell is looking to get rid of its interests in the Caesar Tonga oilfield in the Gulf of Mexico and sell it to Focus Oil. Shell owns 22.5% interest in the field, where Anadarko Petroleum Corp., Equinor ASA and Chevron Corp are the partners.

Norwegian oil giant, Equinor has hired Transocean Norge for drilling six wells on the Norwegian continental shelf (NCS). The contract was signed in an estimated value of $89 million. Drilling services such as slop treatment and cutting handling, and part of the mobilization fee are the services included in the contract. Transocean Norge will initiate drilling start-up in the Tordis, Visund, Bauge and Snorre licenses by the summer of 2019.

Equinor has awarded two drilling contracts to Seadrill Norway Operations Limited which is based on a master framework agreement. Under the scope of this contract, two wells will be drilled in the Barents Sea using West Hercules rig and the operations will start in the spring of 2019. Equinor’s senior VP for Drilling & Well Services has informed that the company has finalized the drilling program for West Hercules.

The energy giant of Norway, Equinor AS has been given a drilling permit by the Norwegian Petroleum Directorate. This permit is for the well 7324/3-1, cf. Section 15 of the Resource Management Regulations. The energy major will be having 55% ownership interest and will work as the operator in the field. The drilling will be from the West Hercules, position 73°57'2,39" North og 24°41'04,86" East.

Norwegian oil giant, Equinor has concluded the installation of the 283-km crude oil pipeline for its Johan Sverdrup project. The pipeline, laid by Saipem’s Castorone, runs through the North Sea to the Mongstad oil terminal outside Bergen, Norway. The Saipem-owned vessel is now preparing to lay the 156-km long natural gas pipeline from Johan Sverdrup to the Statpipe pipeline, shipping gas from the field to Karsto.

Norway’s energy major, Equinor Energy AS has been granted a drilling permit for a well by the Norwegian Petroleum Directorate. Well 6407/11-1 of Resource Management Regulations will be drilled from the drilling facility of the Deepsea Bergen. This will be the first well to be built under the production license 751 which was awarded on Feb. 7, 2014. Equinor will be the operator having 80% of the ownership interest.

Equinor unveiled its plans wherein it will drill over 3,000 wells offshore. The focus of the company is to improve the output from older fields and ensure a prolonged production lifetime of almost 20 installations by 2030. The head of development and production of the company said that they aim to achieve 60% and 85% of the recovery rate of oil and gas fields respectively.

Equinor’s Aasta Hansteen gas field might experience the fastest gas start-up process ever, in the later part of this year. ABB is finalising a suite of pioneering ABB Ability digital technologies for Aasta Hansteen. ABB was required to reduce over 1,000 manual interventions sequence to as few as possible. ABB believes that the developed technology will enable the world’s fastest start-up at first gas.