Equinor: Statement on Halting Empire Wind Project
March 31, 2025, a gross book value of around USD 2.5 billion, including South Brooklyn Marine Terminal.Total amount drawn under the project finance term loan facility per March 31, 2025 was around USD$1.5 billion. Empire is in the process of ascertaining the impact on the project and project financing. Equinor US Holdings Inc has provided guarantees for the equity commitment in the project financing. In a full stop scenario, the USD$1.5 billion will be repaid from the equity commitment to the project finance lenders and Empire Offshore Wind LLC will be exposed to termination fees towards its suppliers
Subsea7 Hooks Equinor’s Deal for CCS Work off Norway
Offshore energy services firm Subsea7 has signed a contract with Equinor to act as a technical service provider (TSP) for the Northern Lights Phase 2 carbon capture and storage (CCS) project, offshore Norway.Subsea7’s scope includes engineering, procurement, construction and installation of a five-kilometer CO2 pipeline, as well as installation of integrated satellite structures, umbilicals, tie-in and pre-commissioning activities.According to Subsea7, the contract is ‘sizeable’, meaning it is valued between $50 million and $150 million.Project management and engineering will begin
NKT Concludes First Cable Installation Phase for O&G Scheme Off Norway
the Yggdrasil offshore oil and gas area to shore.The company’s cable-laying vessel, NKT Victoria, has been deployed for the first installation campaign.Once finished, the 145 kV cables will provide a stable, low-emission power supply.“This milestone is a result of strong collaboration with Equinor during cable design, production, and installation. The development of Yggdrasil on the Norwegian Continental Shelf is headed by operator Aker BP with Equinor and Orlean Upstream Norway as license partners,” NKT said in a social media post.Yggdrasil consists of the Hugin, Fulla and Munin license
Orlen and Equinor to Jointly Explore CCS Opportunities
Poland’s Orlen and Norway’s Equinor have teamed up to explore opportunities within Carbon Capture and Storage (CCS) technology.The management boards of both companies have signed a collaboration agreement, covering the transport and storage of carbon dioxide (CO2) in Poland.Under the agreement, Orlen and Equinor will jointly identify potential CO2 storage sites, considering both land-based locations and areas within the Polish section of the Baltic Sea. In the next step, the partners will assess the feasibility of joint projects based on the identified storage locations in Poland."We
DeepOcean Lines Up Subsea Survey Work for Polish Offshore Wind Farms
Ocean services provider DeepOcean has secured a subsea survey contract on the Bałtyk 2 and 3 offshore wind developments in Poland which are jointly developed by Equinor and Polenergia.Under the contract, DeepOcean will conduct geophysical seabed surveys of the export and inter-array cable seabed corridors, utilizing a dedicated survey remotely operated vehicle (SROV).The work scope also includes surveys to map the seabed for potential unexploded ordnances (UXO). Polish company MEWO will serve as a subcontractor to DeepOcean for the UXO scope, using the vessel Amber Cecilia.The survey campaigns will be
Norway Awards Two CO2 Storage Permits in North Sea
Norwegian Ministry of Energy has offered two CO2 storage permits to Harbour Energy, Equinor, and Aker BP, both located in the North Sea.One of the permits is being offered to a group consisting of Harbour Energy (operator) and Equinor Low Carbon Solution, the other permit is being offered to a group consisting of Equinor Low Carbon Solution (operator) and Aker BP.The permits, awarded following the review of applications from six companies, are offered with a binding work program, with milestones that ensure efficient progress, or return of the areas if the licensees do not implement the storage project.
ASN to Supply Equipment for UK CCUS Project
Alcatel Submarine Networks (ASN) has received a notice to proceed from Northern Endurance Partnership (NEP), a joint venture between BP, Equinor and TotalEnergies, for the previously announced contract to supply and install a standalone DC/FO submarine cable infrastructure at Teesside (UK).The DC/FO infrastructure will connect the onshore CO2 gathering network to subsea CO2 injection sites located approximately 145km from shore, enabling the delivery of power and communication to subsea control systems. The technology allows for future extensions, using the initially installed cable to connect additiona
Fugro Gets Busy at Equinor’s Offshore CO2 Highway
Fugro has started conducting comprehensive ground investigation for a CO2 highway, off the coast of Belgium, part of a 1,000-kilometer-long planned pipeline by Equinor to transport CO2 between mainland Europe and Norway.Under the contract, Fugro has been chosen to acquire high quality data that will allow Equinor to quickly calculate ground risk and reduce uncertainty.The 1000 km long CO₂ pipeline is planned to start from CO₂ hubs in Zeebrugge, Belgium and Dunkirk, France, connected to storage wells at the Norwegian continental shelf. Fugro’s geotechnical work is part of the maturation of the
Technip FMC, Saipem Good to Go for UK’s CCS Projects Work
and storage of CO2 of the East Coast Cluster.The overall value of the two projects is approximately $682 million, with a duration of 30 months.The first project has been awarded by the NEP’s entity called Net Zero North Sea Storage Limited, an incorporated joint venture between the operator BP, Equinor and Total Energies. The second project has been awarded by Net Zero Teesside Power Limited, an incorporated joint venture between BP and Equinor.The final award follows the completion of the regulatory clearances and positive Final Investment Decisions (FID) taken by the clients and the UK government
February 2025
