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

17/07/2019 08:32 Oil Market

news

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 (02.12.2019): Brent crude down 2.3% on Friday, but 6 % higher on a monthly basis due to a potential extension of production cuts by OPEC

02/12/2019 10:12:00

Oil prices tumbled on Friday on new tensions between China and the US, but settled higher on a monthly basis on hopes for OPEC+ extension of production cuts beyond March.

<READ MORE

EBRD extends €17m loan to Georgia for 175 electric buses

02/12/2019 09:07:00

The EBRD is extending a €17 million (£14.5m) sovereign loan to Georgia in order to fund electric bus deployment.

READ MORE

Saipem wins two offshore windfarm contracts worth €750m

02/12/2019 08:59:00

Italian engineering firm Saipem has been awarded two contracts worth €750m to help build two windfarms off the coasts of Scotland and Taiwan.

READ MORE