Equinor and partners begin production from Norwegian Sea’s Trestakk field

17/07/2019 08:32 Oil Market


Equinor Energy and its partners ExxonMobil and Vår Energi have started production from the Trestakk field in the Norwegian Sea on time and under budget.

The original investment estimated for the Trestakk field development was NOK5.5bn (£520m) when the project was approved by the Norwegian authorities in 2017. Equinor said that the final costs for the on field start-up are likely to be NOK5bn (£470m).


The oil and gas field, which is contained in Block 6406/3, and in production license PL091, is located nearly 20km southeast of the producing Åsgard field. Trestakk has been tied back to the Åsgard A floating production vessel for processing and gas injection.


The offshore Norwegian field is expected to yield about 22,000 barrels of oil per day. Its peak production will be nearly 44,000 barrels of oil per day with production expected to be sustained for 12 years.

Source: nsenergybusiness.com

Daily (15.08.2019): European spot power prices plummeted by over 21% on Wednesday, amid low demand due to a public holiday in the region and surging wind output

15/08/2019 11:40:00

Crude oil prices reversed earlier gains on Wednesday, amid disappointing economic data in China and the Eurozone, particularly in Germany, worsening the crude demand outlook. A surprise increase in the U.S. crude inventories added to the bearish market sentiment. In addition, traders were focused on profit taking after Tuesday’s rise. As a result, Brent crude fell by 3% to $59.48 a barrel, while WTI futures dropped by 3.3% to $55.23 a barrel.


Jan De Nul to install offshore turbines at Denmark's 605-MW Kriegers Flak

15/08/2019 08:38:00

Marine contractor Jan De Nul Group has been hired to install the turbines at the 604.8-MW Kriegers Flak offshore wind farm in the Baltic Sea, off the Danish coast.


TurkStream's receiving terminal 95% complete

15/08/2019 08:34:00

Construction of the TurkStream Offshore Gas Pipeline Project's gas-receiving terminal at Kıyıköy – Turkey's main onshore section – is 95% complete, the project company announced Wednesday.