Exxon Mobil will extend lifetime of Norway's Sigyn field until end-2022

27/02/2017 08:53 Oil Market


Norway's Petroleum Safety Authority has given approval to operator Exxon Mobil to prolong the lifetime of its Sigyn field offshore Norway until end-2022, the safety watchdog declared on Friday.

The gas and condensate field located approximately 12 kilometres south-east of the Statoil-controlled Sleipner East field has been developed employing subsea templates tied back to the Sleipner A facility.

Production from the field was initially anticipated to stop in 2017.

The Norwegian Petroleum Directorate (NPD) stated on its page the Sigyn field's lifetime could be prolonged by adding new production wells.

Exxon Mobil owns a 40 percent stake in Sigyn while Statoil possesses 60 percent.

Daily (16.09.2019): NBP spot soared by over 13% on Friday amid higher demand after official order to cut Gazprom’s flows

16/09/2019 11:55:00

Crude oil prices traded lower on Friday, amid worries over global economic slowdown and thinner oil demand. WTI futures fell by 0.4% to $54.85 a barrel, while Brent crude edged 0.3% down at $60.22 a barrel, heading for the first weekly fall in three and five weeks respectively. Nevertheless, crude prices are expected to spike after a drone attack on two Saudi Aramco oil facilities on Saturday, which slashed by 50% Saudi Arabia’s oil output, or the equivalent of 5% in the global oil supply.


EBRD extends renewable energy programme for Kazakhstan

16/09/2019 09:27:00

The EBRD is pledging fresh funds to support Kazakhstan’s drive as a regional leader to promote renewable energy, with the help of a second phase of the Bank’s Kazakhstan Renewables Framework of up to €300 million, the Bank reported.


Germany's Notus to add 270 MW wind capacity in Ukraine

16/09/2019 09:24:00

Germany-based Notus Energy Group intends to build 270 MW of wind parks in Ukraine that will kick off operations by 2021, it said last week.