Norway

The announcement comes as Aker BP has stopped all nonsanctioned projects. The remaining two Phase 2 wells will come on stream in 2021.

The savings result in part from the depreciation of global currencies against the US dollar, as most operating expenses in oil and gas production are realized in local currencies. Brazil leads in savings.

Westwood Global Energy’s analysis looks at production, cost, and revenue estimates in the UK and Norway, should oil prices remain low. The research group also provided an outlook on drilling activity.

The Norwegian wind farm is expected to start up in 2022. The wind farm is also expected to create spinoff effects during the project’s life.

An ultrahigh-density high-resolution data set from the Hammerfest Basin is now available from PGS. The area is thought to contain around half of the undiscovered resources on the Norwegian continental shelf, according to the Norwegian Petroleum Directorate.

The Petroleum Safety Authority Norway is closely monitoring industry action over the current pandemic. So far, it has found that, while the pandemic is attracting great attention, there are no signs of safety being weakened.

More than 200 companies could become insolvent in the UK and Norway. This number may be larger when including the rest of Europe.

Because the greenfield can use existing infrastructure, the Norwegian operator says it will count as a low-carbon development.

The company has launched new climate ambitions to reduce the absolute greenhouse gas emissions from its operated offshore fields and onshore plants in Norway by 40% by 2030, 70% by 2040, and to near zero by 2050.

Equinor has released its plan for eliminating carbon dioxide emissions in Norway by 2050, but it comes with some tall technical challenges.