Equinor Finds More Oil in Arctic Field

Posted by Joseph Keefe
Monday, October 29, 2018

Norwegian oil and gas firm Equinor has found more oil near its Johan Castberg field in the Arctic Barents Sea, the company said on Monday.

The Skruis exploration well, drilled about 8 kilometers north of the original discovery, indicated a volume of 12-25 million recoverable barrels of oil.

"The Skruis discovery confirms the potential in this part of the Barents Sea ... The partners will now further consider tie-in of the discovery to Johan Castberg," Equinor said.

The Castberg field, estimated to hold 450-650 million barrels of oil, excluding Skruis, is expected to start in 2022.

The timeframe for developing Skruis would depend on the availability of spare capacity at Johan Castberg production facilities, which are likely to be fully utilized until 2026-2027, the company added.

Equinor, the operator, holds a 50 percent stake in the Johan Castberg licence, while Eni has 30 percent and Norway's state-owned Petoro the remaining 20 percent.

Equinor plans to drill three wells in the Barents Sea this year, and to participate as a partner in a fourth.


(Reporting by Nerijus Adomaitis)

Categories: Arctic Operations Offshore Energy Activity Arctic Oil

Related Stories

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

Japan and South Korea Look to Partner Up with US for Alaska Pipeline

ADNOC Signs 15-Year LNG Supply Deal with Osaka Gas for Ruwais Project

Sapura Energy Nets $720M from Multiple Drilling Services Contracts

Shell Predicts 60% Rise in LNG Demand by 2040 with Asia Leading the Way

Eco Wave Finds Partner for Wave Energy Project in India

Japan's Mitsui Eyes Alaska LNG Project

ADES’ Fourth Suspended Jack-Up Rig Gets Work Offshore Thailand

Vestas Lands First 15MW Offshore Wind Turbine Order in Asia Pacific

Shell Shuts Down Oil Processing Unit in Singapore Due to Suspected Leak

Current News

Chuditch Gas Field Up for Summer Drilling Ops as Sunda Reshapes Ownership Structure

EnQuest Bags Two Production Sharing Contracts off Indonesia

Hanwha Drilling’s Tidal Action Drillship En Route to Petrobras’ Roncador Field

China's ENN, Zhenhua Oil Ink LNG Supply Deals with ADNOC

MODEC Wins ExxonMobil Guyana’s Hammerhead FPSO Contract

India Stretches Bids Deadline for 13 Offshore Deep-Sea Mineral Blocks

Indonesia Awards Oil and Gas Blocks to Boost Reserves

Sapura Energy Nets $22.6M in Offshore Support Vessel Contracts

CNOOC Puts Into Production New Oil Field in South China Sea

Sunda Energy Starts Environmental Consultation for Chuditch-2 Well Drilling Plans

Subscribe for AOG Digital E‑News

AOG Digital E-News is the subsea industry's largest circulation and most authoritative ENews Service, delivered to your Email three times per week

https://accounts.newwavemedia.com