Page 17 - EurOil Week 07 2021

EurOil NEWS IN BRIEF EurOil

potential of up to 1bn cm, PGNiG said in a 138bn, some 8.9% lower than predictions work would start immediately. The project
statement. for 2021 a year ago, SSB said. is scheduled for completion at the end of
Production from the six new wells Investment levels have an impact on 2025.
will add to PGNiG’s domestic output of both the near-term growth of Norway’s
some 3.8bn cm of gas, which the company economy as well as the country’s longer-
expects in 2021. term output of petroleum. TechnipFMC splits in two
PGNiG also plans to produce 1bn cm Last year, Norway’s parliament approved
of gas from deposits it operates in the temporary tax incentives to spur oil and Oilfield services company TechnipFMC on
Norwegian Sea, as well as 300,000 cm from gas investments, triggering promises February 16 said it had completed its spin-
Pakistan. by Equinor and others to accelerate off transaction to create two independent,
The company’s total output covers development of existing finds to bring publicly traded companies, TechnipFMC and
around 25% of Poland’s annual demand them on stream. Technip Energies.
with the remainder covered by imports, To qualify for the incentives, which TechnipFMC, created in 2017 through
chiefly from Russia. Warsaw aims at could reduce development costs by around a merger between France-based Technip
becoming independent of Russian gas in $10 per barrel of oil according to industry and U.S.-based FMC Technologies,
2022, pumping gas from Norway via the estimates, projects need to be approved by announced its intention to separate into
Baltic Pipe and through LNG imports from the end of 2022. two independent public firms in August
Qatar and the US. “The indicated decrease in 2022 is 2019 - one focused on upstream activities
Meanwhile, PGNiG said on February 10 mainly due to low estimates in field - Technip FMC - the other on midstream
that it would not pursue a joint transaction development ... The decline is related and downstream - Technip Energies.
with another Polish state-controlled to more developments being completed According to the company’s detailed
company, the power utility PGE, for in 2021 or early in 2022,” SSB said in a description, Technip Energies an
purchasing the Polish assets of the Czech statement. Engineering & Technology company for
energy firm CEZ. PGE said it would A string of new development plans are the energy transition, “with leadership
pursue the deal on its own. expected this year and next, but major positions in LNG, hydrogen and ethylene
investments associated with them tend to as well as growing market positions in blue
come only as construction of platforms and green hydrogen, sustainable chemistry
Norway’s January gas and pipelines gets underway. and CO2 management.”
Doug Pferdehirt, Chairman and CEO
As the vast majority plan to start up late
output exceeds forecasts next year, the SSB noted these will involve of TechnipFMC, stated: “I am delighted
to announce the successful completion of
relatively low investment in 2022.
Norway’s preliminary natural gas output the separation transaction. As the market
exceeded official forecasts, while oil leader and industry’s only fully integrated
production was in line with expectations, data Equinor hires Aker Solutions pure-play, we are uniquely positioned to
from the Norwegian Petroleum Directorate transform our clients’ project economics,
(NPD) showed on February 16. to electrify Troll B and C helping them to unlock traditional and
Crude oil output slipped 0.6% from new energy resources while reducing
December to 1.8mn barrels per day in platforms carbon intensity and supporting their
January but was 9.1% more than in the energy transition ambitions.”
same month a year ago. Norway’s Aker Solutions has secured a letter Technip Energies on Tuesday appointed
The Equinor-operated Johan Sverdrup of intent from Equinor to carry out the a new member of its Board of Directors,
oilfield has ramped up its output topside work on the Troll B and C platforms Simon Eyers, effective February 16, 2021.
throughout 2020 to 500,000 barrels of oil offshore Norway to prepare them for power Eyers previously served as Managing
equivalent per day in December, despite from shore, in order to reduce the CO2 Director of Warburg Pincus International
nationwide production cuts, which expired emissions. from 2012 to 2018 focusing on energy
at the end-2020. Aker Solutions said the contract investments, and as a Senior Advisor
The daily output of natural gas in was very large, which means it is until the end of 2020 after retiring from
January was at 335 mcm, exceeding the valued somewhere between NOK2.0bn his full-time role. In addition to being a
NPD’s forecast by 4.1%, but broadly in line (237.28mn) and NOK3.0bn ($355.8mn). founding partner of 4D Global Energy
compared with the same month a year ago. The modifications will include the Advisors, a private equity firm based in
installation of equipment for receiving Paris specializing in the energy sector,
electrical power from shore via cable. This Eyers also held executive leadership roles
Norwegian oil firms raise will replace power generation from gas in various technology ventures and worked
turbines at the platforms, and thus reduce
13 years in energy investment banking at
capex plans in 2021 climate footprint. SG Warburg & Co, Goldman Sachs, and
Aker Solutions’ work will include
Credit Suisse First Boston Europe.
Oil and gas firms in Norway have increased engineering, procurement, construction “We are pleased to welcome Simon
their 2021 investment plans in recent months, and prefabrication of systems, and Eyers to the Technip Energies Board,” said
but still plan to spend less than last year and to installation at the platforms offshore. Arnaud Pieton, CEO of Technip Energies.
reduce spending in 2022, a national statistics The engineering and construction will “Simon’s deep understanding of global
office (SSB) survey showed on February 17. be performed at Aker Solutions’ offices energy markets and strong experience with
The biggest sector in Norway now in Bergen, and at its yard in Egersund the development of new technologies will
expects to invest 173.6bn Norwegian respectively. The award follows the be invaluable as we grow our business in
crowns ($20.5bn) this year, up from a completion of the front-end engineering the future.”.
forecast of 166.3bn in November, the SSB and design (FEED) work that Aker
said, but that still lags last year’s 179.3bn. Solutions was awarded in January 2020.
Its initial forecast for 2022 stood at The company said Tuesday that the

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