Norway Plans North Sea Power Grid
for 1.2 billion euros ($1.3 billion) in April.Equinor's Johan Sverdrup oilfield, as well as its Troll A gas platform, the largest on the Norwegian continental shelf, receive power from an onshore grid.There are plans to extend cables from the Sverdrup platform to nearby fields, including Lundin Petroleum's Edvard Grieg and Aker BP's Ivar Aasen platforms.BKK and CapeOmega's plans were previously reported by Upstream online news site.($1 = 9.1609 Norwegian crowns)($1 = 0.9073 euros) (Reporting by Nerijus Adomaitis; Editing by Susan Fenton
'Frog's Leg' Proves Bountiful for Aker BP
BP said in a statement.When reserves are found to stretch across the British-Norwegian offshore border, the two nations share the revenue from production based on estimates of how much oil and gas is located on each side.Aker BP is operator of the license with a 60 percent stake, while Sweden's Lundin Petroleum and Eni's Vaar Energi each hold 20 percent.Aker BP is 40 percent owned by Norway's Aker ASA and 30 percent by BP Plc. (Reuters reporting by Terje Solsvik; Editing by Shreejay Sinha
Aker Bets on Software Engineers for Its Oil Business
Aker BP's oil industry assets, integrating data from equipment such as pumps, heat and pressure sensors, maintenance records and even staff rotas to improve efficiency and safety.Less than two years later, Cognite is selling its software to Aker BP's rivals and one competitor, Sweden's Lundin Petroleum, has even agreed to share its real-time oilfield data with Aker in what they say is an industry first."This will be the first time two different operators, or oil companies, will share operations/production data live from two producing fields, that is between Edvard Grieg and Ivar Aasen
Aker BP CEO Predicts Fast Johan Sverdrup Ramp-up
; Karl Johnny Hersvik told Reuters on the sidelines of an energy conference.Johan Sverdrup Phase 1 will have capacity to produce 440,000 barrels of oil equivalents per day (boed), while the second phase, starting production in 2022, is expected to further boost output to 660,000 boed.Sweden's Lundin Petroleum, another partner in the Equinor-operated, on Wednesday said it expected the field to start producing before November next year.Equinor has said it expects the field to start in late 2019 but has not provided an estimate for when the first phase could reach full capacity.(Reporting by Nerijus
Statoil Set to Drill Its Biggest Arctic Hope
this year in the Barents Sea," Teodor Sveen-Nilsen, an analyst at Sparebank1 Markets, said. Statoil described Korpfjell as a high-impact well, meaning it could provide a total of more than 250 million barrels of oil equivalent (boe) or 100 million boe net for Statoil. Sweden's Lundin Petroleum, Statoil's partner in the license, estimates Korpfjell could hold more than 1 billion boe, based on seismic surveys. Other partners in the license are Chevron, ConocoPhillips and Norway's Petoro. (Reporting by Nerijus Adomaitis; Editing by David Holmes
Norway's Heavyweights & Entrepreneurs
110,000 barrels per day. By April, when these words appear, that study will be well underway ahead of concept selection in 2018 and an investment decision in 2020. Front-end engineering and design work will be awarded in 2019. Not far away, at the Ghota discovery, is the offshore acreage of Lundin Petroleum, partner in the giant Sverdrup field it’s geologists discovered. Lundin is now trying to develop Ghota’s 150 MM barrels of oil equivalent, likely with two structures or a subsea spread. Lundin engineers might be looking at a novel, “all-electric” subsea concept at Gotha
Det Norske to Restore Production at Alvheim after Leak
FPSO. The crew on board managed to stop the leak after a short period of time," Det norske, operator of the field in which it holds a 65 percent stake, said in a statement on Thursday evening. Other partners in the Alvheim field include ConocoPhillips with a stake of 20 percent, and Lundin Petroleum, with a stake of 15 percent. (Reporting by Stine Jacobsen; Editing by Alexandra Hudson
Statoil Acquires Minority Stakes in Lundin Petroleum
Statoil ASA has acquired 37,101, 561 shares in Lundin Petroleum AB (publ.), corresponding to 11.93 percent of the shares and votes, at a total purchase price of approximately SEK 4.6 billion. The investment in Lundin Petroleum will increase Statoil’s indirect exposure to core assets on the Norwegian Continental Shelf (“NCS”). “We consider this a long term shareholding. The Norwegian Continental Shelf is the backbone of Statoil’s business, and this transaction indirectly strengthens our total share of the value creation from core, high value assets on the NCS
Cost Blowouts on Norway's New Oil Developments
oil development - will cost 46.7 billion crowns ($7.21 billion), above the firm's 45 billion estimate in May and 49 percent more compared to the development plan approved in 2009. Operator Eni has a stake of 65 percent in the field, while its partner Statoil holds the remaining 35 percent. Lundin Petroleum, Brynhild, a relatively small development, will cost 6.9 billion crowns to develop, 1.9 billion crowns more than expected last year and its total price tag is now seen 58 percent above initial projections. Lundin Petroleum controls 90 percent of the field, while Canadian company Talisman
February 2024
