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 (14.02.2020): Brent up 1% on Thursday on prospects for deeper supply cuts

14/02/2020 11:27:00

Crude oil futures edged higher for the third day in a row on Thursday, as the likelihood of deeper OPEC+ supply reductions offset forecasts for a declining demand due to the coronavirus spread. Brent crude for April delivery rose by 55 cents, or 1%, to settle at $56.34 a barrel on ICE London. U.S. WTI crude firmed by 25 cents, or 0.5%, to end at $51.42 a barrel on NYMEX.


Daily (13.02.2020): EUAs tested the €24-level on Wednesday amid a strong auction in Poland, a bullish energy complex

13/02/2020 11:27:00

Crude oil futures soared on Wednesday as signs that the spread of China’s coronavirus may be easing increased investors’ confidence. Brent crude for April delivery rose by $1.78, or 3.3%, to settle at $55.79 per barrel. U.S. WTI crude gained $1.23, or 2.5%, to close at $51.17.


Enel partners Powel to take advantage of the changing Italian market

13/02/2020 10:54:00

The Norwegian software company already includes Axpo, E.ON, Fortum, Luminus, RWE, Statkraft, Uniper and Vattenfall as clients.