Equinor News

26 Jan 2020

Exmar Secures FLNG, VLGC Financing

Image: Exmar

Belgium-headquartered manager of specialized floating assets Exmar said that China Export Credit Insurance Corporation (Sinosure) approved the release of $40 million from the debt service reserve account under the TANGO FLNG loan facility.The documentation for the release of the restricted cash has been signed and the effective release will occur within the coming days.In the meantime the TANGO FLNG has exported its second cargo for YPF in December 2019 and the third cargo is being produced.Exmar has two Very Large Gas Carriers under construction at Jiangnan…

23 Jan 2020

Equinor, Eidesvik in Ammonia-Fueled PSV Pact

The Viking Energy vessel. (Photo: Eidesvik Offshore)

Norwegian oil company Equinor has signed a deal with vessel owner Eidesvik Offshore to test the use of carbon-free ammonia as a fuel aboard the Viking Energy platform supply vessel.Equinor has awarded Eidesvik Offshore a five-year contract with effect from April 2020, when the current contract for the vessel expires. The Viking Energy supply vessel will in the contract period be part of a research project developing, installing and testing long-distance sailing fuelled by carbon-free ammonia fuel cells.

16 Jan 2020

Subsea Robots in the Splash Zone

New model tool: the iCon inspection robot searches for cracks. CREDIT: OceanTech

From their base deep within a former World War II U-boat pen, Norwegian outfit, OceanTech, is developing a set of robot tools that cling to offshore structures in order to effect inspection, maintenance and repair, or IMR. Old submarine anchorages are now subsea testing and training sites, but the North Sea is still the target. Hundreds of aging platforms and subsea structures require IMR that’s too costly, complex or hazardous for divers or remotely operated vehicles, or ROVs.As he walks us through Dora II…

07 Jan 2020

Norwegian PM Opens Johan Sverdrup Field

Image: Equinor

Norway's prime minister Erna Solberg has opened the Johan Sverdrup field center, and the Minister of Petroleum and Energy, Sylvi Listhaug, also attended the opening.Since Equinor and the Johan Sverdrup partners Lundin Norway, Petoro, Aker BP and Total started the field on 5 October last year, production has increased to a level well above 300,000 barrels per day.Johan Sverdrup is expected to yield a total production revenue exceeding NOK 1 400 billion and more than NOK 900 billion…

06 Jan 2020

Tankers Flock to US as Freight Rates Surge

© DJ / MarineTraffic.com

A flotilla of oil tankers is sailing empty from Europe and the Mediterranean toward the U.S. Gulf Coast to take advantage of surging shipping rates, according to shipping sources and Refinitiv Eikon data on Monday.Eight tankers, an unusually high number, are in the Atlantic and steaming to the United States, with capacity of up to 5.6 million barrels of oil combined, the people said. Freight rates for Aframax vessels out of the U.S. Gulf coast hit record levels last month, drawing…

27 Dec 2019

Offshore Energy Outlook for 2020

Equinor’s Hywind Tampen project will use floating wind turbines to provide power to the Snorre and Gullfaks oil and gas production facilities.  (Image: Equinor)

The “new normal” is a phrase tossed around often in offshore energy circles today as those servicing and operating in the sector grapple with the harsh realities of the prolonged industry downturn. Operators, service companies and equipment suppliers have been forced to adjust to oil selling at prices well below the $100+ per barrel mark seen in years past. As of this writing, Brent oil was hovering around $62 per barrel, and analysts expect prices will remain in this range for some time into the future.On top of this…

15 Dec 2019

Wilhelmsen, NorSea Join Forces for Hydrogen

Image: Wilhelmsen

The Norwegean global maritime industry group Wilh. Wilhelmsen Holding ASA and Denmark-based supply chain manager NorSea join forces to develop liquid hydrogen supply chain for maritime applications in Norway.The environmentally friendly liquid hydrogen can be offered to commercial shipping in large scale supply within first quarter 2024, claimed the companies.Together with major industry players such as Equinor, Viking Cruises, Air Liquide, and more, this is a huge and important step towards a sustainable future…

10 Dec 2019

Equinor Acquires 50% Stake in Polish OWP

Map: Equinor

The Norwegian oil and gas major Equinor ASA said it has completed the purchase of a 50% stake in the Baltyk I offshore wind project (OWP) in Poland from Polenergia.The Bałtyk 1 offshore location license allows for a development of a wind farm with a capacity up to 1560MW. Equinor will own up to 780MW.Norwegian company now has an interest in all three Bałtyk offshore wind development projects (MFW Bałtyk III, MFW Bałtyk II i MFW Bałtyk I.).The acquisition of Baltyk I strengthens our presence in the Baltic Sea area.

05 Dec 2019

Prysmian Wins Equinor's Empire Wind Gig

Image: Prysmian Group

Norwegian energy company Equinor has contracted Italian cable manufacturer Prysmian to supply the submarine inter-array cable system for the 816-MW Empire Wind project off the coast of New York.Prysmian will provide the 66kV insulated array cables and ancillaries that will transmit power from the wind turbines which will have a capacity in the range of 10-15MW.The cable system will undergo continuous fabrication at Prysmian’s centres of excellence in Montereau (France) and Nordenham…

03 Dec 2019

Njord A Lifeboats Feature Electric Propulsion

Photo: VIKING

VIKING has secured a contract from Kværner AS to deliver three VIKING Norsafe E-GES 52 electric free-fall lifeboats and compatible davits, in a significant advance for electric propulsion. The contract, part of the upgrade of Equinor’s Njord A platform in the Norwegian Sea, initially called for diesel-powered lifeboats but has been amended to specify VIKING Norsafe E-GES 52 units based on performance, assured availability and lower maintenance requirements.The electric lifeboat is powered by 3x25kWh batteries contained in robust…

24 Nov 2019

Equinor, ESB Target Irish Offshore

Jim Dollard ESB Generation and Trading Executive Director  with Jens O. Økland, SVP for business development in New Energy Solutions, Equinor. Photo: ESB

Ireland-based energy company Electricity Supply Board (ESB) and Norwegian energy company Equinor plan to jointly develop offshore wind sites and enter them into the country's renewable energy auctions from the mid-2020s.The partnership will work to identify suitable sites for new offshore windfarms in Irish waters and work to mature potential future wind projects. The potential for energy storage technology and other technologies to complement offshore wind operations will also be examined.

08 Nov 2019

Small Scale LNG Market to Grow by 6.81%

Cryogas-Vysotsk is Novatek's first small-scale LNG production project. Photo: Novatek

Global small-scale LNG market is expected to rise from its initial estimated value of USD 29.31 billion in 2018 to an estimated value of USD 49.66 billion by 2026, registering a CAGR of 6.81% in the forecast period of 2019-2026.Increasing demand for the LNG is the major factor for the growth of this market, said Data Bridge Market Research.The small scale LNG is especially used for the places where there is less production of LNG and they also don’t require large plants. They usually use tanker…

05 Nov 2019

EGPC Leads Oil, Gas Discoveries in Q3 2019

Image courtesy: Egyptian General Petroleum Corporation

Egyptian General Petroleum Corporation (EGPC) led globally among companies in the third quarter (Q3) 2019 in terms of the highest number of oil and gas discoveries, said GlobalData.Of the total 38 discoveries made worldwide, EGPC had four, all being onshore discoveries. Of these, three were conventional oil discoveries while the remaining was a conventional gas discovery, said a report from GlobalData.Soorya Tejomoortula, Oil and Gas Analyst at GlobalData, explained: “Of the three conventional oil discoveries made by EGPC in Q3 2019…

01 Nov 2019

SGRE Lands World’s Largest Floating OWF

Image: Siemens Gamesa Renewable Energy

Spanish-based engineering company Siemens Gamesa Renewable Energy (SGRE) said that the world’s largest floating wind power plant will be installed in Norway, equipped with 11 Siemens Gamesa SG 8.0-167 DD turbines.Scheduled to be commissioned in late 2022, Hywind Tampen will be the first ever floating wind power plant to power offshore oil and gas platforms.“We are pleased to have received the firm order from Equinor to be the supplier of this ground-breaking project. Thanks to our strong collaboration and joint focus on innovation…

31 Oct 2019

Oil and Gas Industry Adopts VR

Pic: GlobalData

The oil and gas industry is witnessing wide-scale deployment of virtual reality (VR) technology across its value chain, according to GlobalData.According to the report, ‘Virtual Reality in Oil & Gas’, VR is finding its way into upstream, midstream and downstream sectors with applications in the simulation of new processes, analysis of project designs, reviewing of maintenance requirements and planning disaster responses.Ravindra Puranik, Oil and Gas Analyst at GlobalData, said: “Over time…

31 Oct 2019

Simon Mokster Sells PSV Stril Neptun

Stril Neptun. Image: Simon Møkster Shipping

Norwegian offshore support vessels company Simon Mokster Rederi said that it has sold the 3,000-dwt platform supply vessel (PSV) Stril Neptun to Greek interest for work outside the offshore shipping segment.Stril Neptun was delivered back in 1999 and has served long contracts as combined standby and supply on the NCS for Exxon (now Vår Energi), Equinor and BP/Aker BP for many years.The vessel is delivered to the new owners and will head to the Mediterranian early November, said a press note."Møkster is grateful to all seafarers…

27 Oct 2019

Exmar Reports Strong Earnings for VLCCs

Pic: EXMAR

Belgium's Exmar, the Nicolas Savery-led shipowner, reported strong earnings for the very large gas carriers (VLCCs), and midsize gas carriers for the the third quarter of 2019. The current trading fleet of Exmar in the VLGC segment is the 83,300 m³ BW TOKYO. During the quarter the vessel has been extended to a first-class counterpart at a profitable rate to Exmar in line with strong market fundamentals.The two 88,000 m³ next generation dual fuel newbuildings with a long-term charter to Equinor are progressing according to schedule with expected delivery second and third quarter 2021…

23 Oct 2019

Corporates Pledge for Healthy, Productive Ocean

Pic: DNV GL

30 companies and institutional investors have signed up to the United Nations Global Compact (UNGC) Sustainable Ocean Principles committing to take action to secure a healthy and productive ocean.UNGC is a special initiative of the UN Secretary-General, the United Nations Global Compact works with companies everywhere to align their operations and strategies with ten universal principles in the areas of human rights, labor, environment and anti-corruption.The signatories to the principles include the container ship and supply vessel operator A.P.

18 Oct 2019

Two LNG Dual-Fuel DP Shuttle Tankers Unveiled

AET's Eagle Blane and Eagle Balder were unveiled at a naming ceremony held at the Samsung Heavy Industries (SHI) Geoje Shipyard, South Korea, today
(Photo: AET)

AET, a petroleum tanker owner and operator, has named its newest vessels, two of the world's first LNG Dual-Fuel Dynamic Positioning Shuttle Tankers (DPSTs). The vessels, the cleanest DPSTs ever built, will emit 40-48% less carbon than equivalent vessels built in 2008, meeting the International Maritime Organization's (IMO) target of reducing carbon (CO2) emissions by 40% against 2008 baselines by 2030, and halving CO2 emissions by 2050.These LNG Dual-Fuel DPSTs also emit 85% less SOx…

13 Oct 2019

Solvberg Appointed NPD Director General

Photo: Norwegian Petroleum Directorate

The Norwegian Petroleum Directorate (NPD) has announced the appointment of Ingrid Solvberg as Director for the Norwegian Sea and Barents Sea, replacing Bente Nyland.According to a note from NPD, Sølvberg was appointed by the King in Council on 11 October. The Ministry of Petroleum and Energy has not yet set the date for the transition.The director general position in the NPD is posted as a fixed term engagement of six years, with the option of an additional six-year period. Bente…

11 Oct 2019

U.S. Sanctions Bite; Traders Shun 300 Tankers

AdobeStock / © Jose Gill

Nearly 300 oil tankers globally have been placed off limits as companies fear violating U.S. sanctions against Iran and Venezuela, driving freight rates to new highs, industry sources said.The move has taken roughly 3% of the global oil tanker fleet out of the market, according to industry sources and data on Refinitiv Eikon, sending rates soaring to secure tankers to ship oil, particularly to Asia."Freight rates are going through the roof and people are getting very nervous with the cost of shipping…

10 Oct 2019

Hammerfest LNG Ships 1000th LNG Cargo

Arctic Discoverer will carry cargo number 1000 from the Hammerfest LNG plant. (Photo: Silje Grytbakk / Equinor ASA)

Norwegian energy company Equinor reached a milestone at its Hammerfest LNG facility on Melkøya Island, “the Snøhvit plant”,  by loading the 1000th cargo of the chilled fuel.The cargo consists of 140 500 cubic metres of liquefied natural gas (LNG). Total sales value of all the LNG cargos since the field came on stream is in the range of NOK 130-150 billion. In addition, we have the value of liquefied petroleum gas (LPG) and condensate.Arctic Discoverer is the name of the tanker that will carry cargo number 1000 from the Hammerfest LNG plant.

08 Oct 2019

Seacat Kicks Off 3-vessel Charter with Equinor

(Photo: Seacat Services)

Offshore energy support vessel (OESV) operator Seacat Services said it has commenced a long-term contract with Equinor, which will see three OESVs support the ongoing operations and maintenance (O&M) of the 88-turbine Sheringham Shoal Offshore Wind Farm in the UK North Sea.Throughout the contract, two of Seacat Services’ 21-meter vessels – Seacat Endeavour and Seacat Reliance – will operate on site all year round, and between March and October they will be joined on site by a…

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