Aker BP hits oil and gas at Froskelar Main well offshore Norway

04/02/2019 09:35 Energy

news

The company on Monday said that preliminary analysis indicates a gross discovery size of 45-153 million barrels oil equivalents.

The Froskelår Main well, formally named exploration well 24/9-14, is located in the Alvheim area and follows the Frosk discovery from last year.

 

The major part of the discovery is in license 869 on the Norwegian Continental Shelf, while a part may straddle the UK-Norwegian border in the North Sea. The well is being drilled using the Scarabeo 8 semi-submersible drilling rig owned by Saipem.

 

Aker BP is the operator and holds 60 percent interest in license 869. The partners are Lundin Norway (20 percent) and Vår Energi (20 percent).

 

In a recent capital markets day presentation, AKER BP said it planned a high-potential 2019 exploration program with 15 prospects to be drilled, targeting net unrisked prospective resources of 500 million barrels of oil equivalents (“mmboe”). The company has set aside $500 million for exploration in 2019, which is an increase compared to $359 million in 2018.

Source: offshoreenergytoday.com

Hungarian minister highlights importance of nuclear energy

03/04/2020 10:37:00

The coronavirus pandemic has underlined the importance of the existing Paks nuclear power plant, which accounts for about half of Hungary's electricity generation, noted János Süli. The minister responsible for the design, construction and commissioning of two new reactors at Paks said that project will maintain the country's energy security and help revive its economy in the coming years.

<READ MORE

Wind, solar secure 1.4GW in latest French tenders

03/04/2020 10:33:00

The French Ministry for the Ecological and Inclusive Transition has procured approximately 750MW of wind and 630MW of ground-mounted photovoltaic capacity in its latest round of tenders.

READ MORE

Daily (03.04.2020): Brent and WTI surged by 21% and 25% respectively on Thursday as Trump signalled the price war might end soon

03/04/2020 10:24:00

Crude oil futures increased considerably on Thursday, posting their biggest spike in a single session following a message from Donald Trump promising a reduction in Russian and Saudi production to rebalance the black gold market devastated by the covid-19 pandemic. At the same time, Saudi Arabia called for an urgent meeting of the OPEC and other countries, including Russia, to re-establish a balance in the oil markets.

READ MORE