Page 12 - EurOil Week 37 2021

EurOil NEWS IN BRIEF EurOil

distribution level, or in the regional gas the country — is controlled by the Russian annually in 2030 on the back of retiring
market. group Gazprom. old and climate-unfriendly coal-fired
The TSOs believe that following the main Sandu, speaking in an interview given power plants.
principles agreed in the memorandum would to TV8 TV station, confirmed that “neither
lead to a smoother energy transition and the presidency nor the government will
efficient use and development of the regional participate in negotiations on the signing Norway approves Equinor
gas system that would be in line with EU’s of the new contract with Gazprom.”
climate goals and would bring secure, She explained that according to the drilling plan
efficient and low-carbon energy to the Baltic law, Moldovagaz must negotiate the price,
states and Finland. even if the legislation does not prohibit Norwegian oil firm Equinor has been granted
the government from being part of the a for wells 35/10-7 S and A in the North Sea,
negotiations. offshore Norway.
Croatia INA increases stake 35% stake in Moldovagaz and it should which announced its approval last week,
However, the Moldovan state holds a
The Norwegian Petroleum Directorate,
in OMV Slovenija to 33% in principle have representatives in the said that Equinor would use Seadrill’s West
company’s managing board.
Hercules semi-submersible drilling rig to drill
Croatian oil and gas group INA said on The head of Moldovagaz Vadim Ceban the two offshore wells.
September 15 it is increasing its stake in said that prices will rise this year, and The drilling program relates to the drilling
Slovenia’s second largest fuel retailer OMV experts predict a 30% increase. of a wildcat well and an appraisal well in
Slovenija to 33% from 7.75%. production licence 630, where Equinor is
A deal on the acquisition has been signed the operator with an ownership interest of
with Hungarian oil company MOL, which Poland not to prolong gas 50 percent. The other partner is Wellesley
holds a stake of almost 50% in the Croatian Petroleum.
company. supply with Gazprom The two wells will be drilled about 16
“[The] total transaction includes 120 kilometers northwest of the Troll field and 12
service stations across Slovenia and the German LNG Terminal is a joint venture kilometers west of the Fram field. These are
wholesale business. The transaction is subject Poland will “obviously” not prolong its gas the fourth and fifth exploration wells to be
to closing the share purchase agreement supply deal with Russia’s Gazprom when it drilled in the licence.
between OMV and MOL and to clearance expires in 2022, a government official said on The country’s oil and gas safety watchdog
by competition authorities [of the two September 13. PSA Norway granted its consent for the
countries],” INA said in a statement on the Poland is confident that the key 35/10-7 S drilling back in August. The
website of the Zagreb Stock Exchange. investment in the plan to wean the country PSA Norway said the well would target the
In June, INA and MOL announced the off Russian gas, the Baltic Pipe, will start Toppand prospect, and that the drilling would
acquisition of Austrian OMV’s 92.25% stake pumping gas as scheduled in October take a minimum of 30 days.
in OMV Slovenia. The value of the deal was 2022, the government’s proxy for strategic
not disclosed at the time. energy infrastructure, Piotr Naimski, told
Back then, INA said that after the the state newswire PAP. Okea expects revenues to
acquisition, INA and MOL will become “We certainly are not going to be
100% owners of OMV Slovenia. The main dependent on Russian supplies [and] will triple in Q3
fuel supplier for all already existing and not renew the contract with Gazprom,”
newly acquired INA and MOL service Naimski said. Norwegian oil company Okea expects its
stations in Slovenia will be INA.ents Limited The Baltic Pipe is expected to supply revenue to roughly triple in the third quarter
(SIL), a subsidiary of SOCAR. Poland with up to 10bn cubic metres of 2021 on higher oil and gas prices, the firm
of gas, adding to Poland’s domestic said on Wednesday, adding that it sees a an
production, the LNG shipped to the additional boost from the imminent startup of
Moldova’s government terminal in Swinoujscie, as well as to a new field.
Overall operational income was expected
another one, to be constructed in the
lets Gazprom-owned Gdansk Bay. to rise to around 1 billion Norwegian crowns
($115.71 million) in the July-September
“Having the technical ability to import
Moldovagas negotiate gas from Western Europe, we would [also] be period from 321 million in the same period of
able to buy gas on the spot markets when
2020, Okea said.
price with Gazprom needed,” Naimski also said. sharply last year as the COVID-19 pandemic
The price of North Sea petroleum fell
The estimated €2bn Baltic Pipe has
Moldova’s President Maia Sandu has stated now put behind problems that could have hit demand, but has since recovered amid a
that she does not know at what price the resulted in a delay, Naimski said, referring recovery in global economic growth.
country will buy natural gas from Gazprom to Denmark’s authorities repealing the The Yme New Development oil project,
starting October 1, after the contract with environmental permit for a section of the where Okea owns a 15% stake, is currently in
the Russian supplier expires. project in early June. the final phase of development with expected
Moldovagaz — the major natural gas Gas consumption in Poland is expected production start “in the second half of 2021”,
supplier and transport system operator in to boom 50% to around 30bn cubic metres the company said.

P12 www. NEWSBASE .com Week 37 16•September•2021