Equinor

Before the dream of a “subsea factory” can come true, a group of North Sea companies will need to see if the required technology is economically feasible to build.

Spain’s Repsol will assume 100% interest in and operatorship of the joint venture as Equinor leaves the 9-year partnership.

In this video from Bloomberg, Eldar Saetre, chief executive officer and president of Equinor, talks about the company's increased push into the offshore wind power market.

Equinor and the Snorre and Gullfaks partners have made a final investment decision for the Hywind Tampen offshore wind farm development. By reducing the use of gas turbines, the project helps cut CO2 emissions by more than 200,000 tonnes/year.

Offshore facilities are typically powered from onsite gas turbines but efforts to become “carbon efficient” are pushing oil and gas companies toward an onshore alternative.

Equinor, the operator of the Johan Sverdrup field, said that Mongstad will receive more than 30% of the total oil from the Norwegian Continental Shelf when the field is operating at full capacity.

Phase 1 of the North Sea megaproject—Norway’s largest offshore development since the 1980s—has come on stream. Johan Sverdrup is expected to produce 660,000 BOPD at its peak.

The hybrid power technology cuts fuel consumption and boosts the dynamically positioned rig’s station-keeping reliability, the drilling contractor says.

The $43-million deal with Saipem will utilize a wireless underwater intervention drone and an ROV for intervention work on the Njord field in the Norwegian North Sea. Equinor said the contract is the first ever from an operator for advanced wireless drone services.

Ten big names in the oil and gas business created a group to try out ways to use blockchain in the oil business, and test if the record keeping and automatic data collection software can track water shipments more efficiently.