Reserves at Snoehvit Gas Field Cut

Monday, February 18, 2019

Reserves at Equinor's Snoehvit field, the only producing natural gas field in the Barents Sea, were revised down by 8.5 percent, the Norwegian Petroleum Directorate said on Monday.

Estimates for gross reserves were reduced by 17 million cubic meters (107 million barrels) of oil equivalent, on top of a reduction stemming from last year's production, the regulator said in its annual update of Norwegian petroleum resources.

"The reduction in gross reserves is due to the fact that the reserves in the Snoehvit field have been reduced due to an updating of the geological models," it said in a statement

Equinor was not immediately available for comment.


(Reporting by Nerijus Adomaitis, editing by Terje Solsvik)

Categories: Europe Oil

Related Stories

Middle East Conflict Jolts Offshore Drilling Market

US-Israel War on Iran Creates Biggest Energy Crisis in History

Oil Flows to Lag Even if Hormuz Strait Reopens

Russia’s Yamal LNG Resumes Shipments to China After Months-Long Gap

Oil Shoots Over $110 as Trump's Iran Deadline Looms

Oil Hikes 7% after Trump Says US-Israel will Keep Striking Iran

Oil Rises as Widening Conflict Endangers Red Sea, Hormuz Flows

Oil Rises as Iran Denies US Talks, Supply Risks Persist

IEA Weighs Further Oil Stock Releases as War on Iran Continues

Iran War Exposes Risks of Fossil Fuel Dependence

Current News

Middle East Conflict Jolts Offshore Drilling Market

Bureau Veritas Expands Offshore Services with New Asia Hub

Valeura Charters Shelf Drilling’s Jack-Up Rig for Gulf of Thailand Ops

Oil Prices Jump as Ships Come Under Fire in Strait of Hormuz

US-Israel War on Iran Creates Biggest Energy Crisis in History

Jadestone Secures Gas Sales Deal for Fields Offshore Vietnam

Oil Flows to Lag Even if Hormuz Strait Reopens

Eni Makes Major Gas Discovery Offshore Indonesia

Strike Threat Grows at Ichthys LNG after Workers Reject Deal

Pertamina Unit to Operate Indonesia’s Lavender Block under 30-Year PSC

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