Johan Sverdrup News

 

Total Plans $5 Bln in Asset Sales

Jul 25, 2019

French energy giant Total will sell around $5 billion worth of assets, mostly from its upstream exploration and production business, as it seeks to focus on low breakeven projects that can weather weak oil prices, it said on Thursday.The company reported a 19% year-on-year drop in adjusted net profit to $2.9 billion in the second quarter, which it attributed to a combination of unfavorable market factors…

Equinor Q2 Earnings Lag Forecast

Jul 25, 2019

European oil major Equinor said on Thursday it expects less capital expenditure this year, partly due to further cost savings at its Johan Sverdrup oilfield, after reporting quarterly earnings slightly below forecasts.Adjusted earnings before interest and tax (EBIT) fell to $3…

Equinor to Sell Shares in Lundin Petroleum

Jul 08, 2019

Norwegian oil and gas firm Equinor ASA on Sunday said it will sell a 16% stake in Lundin Petroleum AB for about $1.56 billion, and in return acquire an additional 2.6% stake in Johan Sverdrup oilfield.Equinor agreed to sell about 54.5 million Lundin shares at a price of 266…

KHI Wins AiP from DNV GL for LFPP

Jun 11, 2019

The international accredited registrar and classification society DNV GL has awarded the Japanese multinational corporation Kawasaki Heavy Industries (KHI) an Approval in Principle (AIP) for their LNG floating power plant (LFPP).The classification…

Edda Accommodation CEO Retires

May 29, 2019

Edda Accommodation, a specialized provider of offshore accommodation service vessels, has announced that Johan Rokstad retired as CEO.The managing director role of Edda Accommodation is now transferred to Kenneth Walland, CEO of Østensjø Rederi…

Johan Sverdrup Phase 2 Plan Approved

May 15, 2019

Norwegian authorities have formally approved the plan for development and operation (PDO) of the second phase of the Johan Sverdrup field, Equinor announced on Wednesday. The Norwegian energy company said the NOK 41 billion ($4.7 billion) project…

Equinor Q1 Beats Forecast

May 03, 2019

Norwegian oil and gas firm Equinor reported on Friday a small fall in quarterly operating profit, beating forecasts, and said its giant Johan Sverdrup oilfield in the North Sea remains on track to start production in November.Earnings before interest and tax (EBIT)…

NPD Report on High North Offshore

Apr 03, 2019

Norwegian Petroleum Directorate (NPD), Norwegian government agency responsible for the regulation of the petroleum resources on the Norwegian continental shelf, has presented a report on petroleum activity in the High North at the Barents Sea conference…

Norway Production Costs Rising

Mar 07, 2019

Petroleum production costs on the Norwegian continental shelf rose in 2018 after falling for three consecutive years, state-owned oil firm Petoro said on Thursday.Cost cuts were high on oil firms' agenda following a sharp fall in crude prices in 2014…

Lundin Raises Long-term Output Guidance

Jan 30, 2019

Lundin Petroleum raised its output guidance on Wednesday and said it would drill a record number of exploration wells in 2019.The company now expects output of over 150,000 barrels of oil equivalents per day (boepd) in 2020 from a previous forecast of more than 130…

Norway's December Oil Output Misses Forecast

Jan 22, 2019

Norway's oil production fell by 2.1 percent year-on-year in December and lagged the Petroleum Directorate's forecast for the month by 2.5 percent amid technical problems at some offshore fields, the industry regulator said on Monday.December natural gas output fell by 2…

Norway Cuts 2019 Oil Output Forecast

Jan 11, 2019

The Norwegian Petroleum Directorate (NPD)’s forecasts show that Norway's oil output in 2019 will be smaller than previously forecast and its lowest level in three decades, although it should rebound in the following years.'After a minor decline in 2019…

Norway Ready to Claim Share of Russia's Arctic Finds

Jan 10, 2019

Norway will step up preparations to claim its share of oil and gas resources if Russia finds petroleum on its side of a border in the Barents Sea, the head of Norwegian Petroleum Directorate (NPD) said on Thursday.Norway and Russia in 2010 agreed a maritime border in the Barents Sea…

Norway 2019 Oil Output Forecast Cut to 30-year Low

Jan 10, 2019

Norway's oil output in 2019 will be smaller than previously forecast and its lowest level in three decades, although it should rebound in the following years, the country's oil industry regulator said on Thursday.Investment in Western Europe's…

SHI Delivers Johan Sverdrup Offshore Platform On Schedule

Dec 19, 2018

South Korean shipbuilder Samsung Heavy Industries (SHI) has successfully completed the processing platform (P1) for Johan Sverdrup Field development and delivered it to Equinor according to the scheduled delivery date stated in the original contract…

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