Statoil has received approval for North Sea oil and gas fields

19/01/2017 11:02 Energy Market


Norwegian energy company Statoil has won approval by the authorities for its planned development and operation for the Utgard and Byrding oil and gas fields.

Utgard is a gas and condensate field on Norwegian and UK continental shelf, located 21 km from Sleipner field, although the Byrding development includes a duo-lateral well drilled from the existing Fram H-Nord subsea template, through which oil and gas from Byrding will flow to Troll C. It is estimated that Utgard has recoverable volumes of 56 million barrels of oil equivalents. As regards Byrding, Statoil estimates that about 11 million barrels of oil equivalent can be recuperated from there. Capital expenditures for Utgard are projected at about NOK 3.5 billion, while Byrding’s requires an investment of about NOK 1 billion. Statoil is the operator of both the fields, owning a 38.44% interest in Utgard and 70% in Byrding.

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.