Equinor

Innovators at the Norwegian oil company have developed a machine-learning model that analyzes mud-gas data to predict the gas/oil ratio of wells as they are drilled—something that the industry has worked for decades to accomplish.

Work began in December on the Snorre Expansion Project in the southern part of the Norwegian Sea. This increased-oil-recovery project will add almost 200 million bbl of recoverable oil reserves and help extend the productive life of the Snorre field through 2040.

The $120 million per year, 5-year contracts will provide well-intervention services to Equinor’s fixed platforms.

Norway’s Equinor has breached safety regulations at its long-delayed Martin Linge oil and gas development and must fix the problems before output can begin, an industry regulator said.

The Italian oil and gas major has taken on a 20% stake in the first two phases of the project, which ultimately will be run by Equinor.

As it reaches for net-zero emissions, the company said its operations offshore Norway remain central to its long-term strategy.

Equinor issued a letter of intent to Odfjell Drilling and its semisubmersible rig Deepsea Aberdeen for the drilling of 15 wells for the Breidablikk Group, which recently submitted the plan for development and operation. Drilling is scheduled to start in spring 2022 with the campaign estimated to last through autumn 2024.

The Northern Lights project will disclose data sets from the confirmation Well 31/5-7 Eos drilled in the North Sea and completed earlier this year.

The EPCI contract for the Breidablikk development includes provision of flexible jumpers and rigid pipelines as well as pipeline installation work. About 70% of the value creation in the Breidablikk development phase is expected to go to Norwegian companies.

The memorandum of understanding with Microsoft follows a conditional investment decision in May that Equinor, Shell, and Total made for the carbon capture and storage project.