Norway will be able to sustain gas production at last year’s elevated level until at least 2026 thanks to 300 billion Norwegian kroner ($30 billion) of investment in new offshore fields.
Odfjell Drilling has booked further work for the Deepsea Yantai, with the Norwegian arm of PGNiG securing the unit to drill the Tomcat exploration well in mid-2024.
Equinor (OSLO:EQNR) and its partners have today submitted plans for new compression and electrification facilities at the Hammerfest LNG plant (HLNG), securing gas exports beyond 2030.
Aker BP and its partners will submit a record ten plans for development and operation (PDO) to Norwegian authorities on Friday, paving the way for more than $20bn in investments.
Equinor (OSLO:EQNR) has confirmed the start up of the second phase of its 2.7 billion barrel Johan Sverdrup megaproject in the Norwegian portion of the central North Sea.
Having completed its 2022 drilling programme, Longboat Energy (LON:LBE) has secured additional lending and is now looking to its next phase of exploration in 2023.
By Stephen Coomber, senior analyst, Westwood Global Energy Group
As of 25 November, Westwood Global Energy reports that there are three exploration wells active, with two in the Norwegian Sea and one in the Barents Sea. Since the previous report, one exploration well program has completed at Oswig, and one exploration well has spudded at Countach.
Norway will add a new natural gas field in the Norwegian Sea from 2026 in a push to bolster supplies to continental Europe as the EU rushes to replace Russian flows.
By Stephen Coomber, senior analyst, Westwood Global
As of 27 October, Westwood Global Energy reports that there are two exploration wells active, one in the Northern North Sea and one in the Norwegian Sea. Since the previous report, one exploration well program has completed.