Norway

The drilling program is the first exploration well to be drilled in production license 785 S.

Additional acreage in the North and Norwegian seas are also available in the 2021 round.

With its third capacity increase in 2 years of production, the third-largest oil field on the NCS is proving to be a powerhouse for Norway.

More than 30 oil and gas companies took part in the licensing round, which focused on mature areas that can be developed using existing infrastructure.

The first phase of the project is set for completion in 2024. As a part of the project, Equinor, Shell, and Total will establish a new joint-venture enterprise. Equinor has awarded two EPC contracts.

A Norwegian shipping company is eyeing smaller battery energy storage systems to design and develop greener heavy-lift jackups.

The Petroleum Safety Authority Norway is worried about a rising number of serious incidents in the industry and has asked the companies to prioritize work on safety.

The memorandum of understanding with Microsoft follows a conditional investment decision made in May by Equinor, Shell, and Total. Pending Norwegian government approval, the final investment decision for the project is expected in late 2020 with startup expected in 2024.

Akers BP said it will use lessons learned from the pilot and scale the remote-assist concept across its assets.

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