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EurOil PROJECTS & COMPANIES EurOil

Equinor ramps up Sverdrup

output target once more

NORWAY NORWAY’S Equinor is now targeting 500,000 Upon its launch, Equinor estimated the field
barrels per day of oil output at the Johan Sver- had operating costs of only $2 per barrel and
The field is now drup oilfield by year-end, or 60,000 bpd more needed oil prices of under $20 per barrel to break
expected to be flowing than the original plan for its plateau production even. Equinor has also pointed to its low emis-
500,000bpd of oil by rate. sions of under 0.7 kg of CO2 per barrel of crude
year-end. The giant North Sea field was brought on lifted, thanks to the fact it is powered from shore.
stream last autumn and was originally expected Equinor operates Sverdrup with a 42.6%
to flow a maximum of 470,000 bpd under its first stake, while Sweden’s Lundin has 20%, Norwe-
phase of development. Equinor and its partners gian firms Petoro and Aker BP have 17.4% and
announced in March that this goal would be 11.6% respectively, and France’s Total 8.4%.
raised to 470,000 bpd, thanks to better-than-ex- The group are now preparing for the pro-
pected well performance. ject’s second phase, due to yield its first oil in the
That goal has already been reached, and the fourth quarter of 2022. That phase will now flow
group is now aiming for 500,000 bpd after testing around 720,000 bpd at plateau, versus an earlier
the project’s plant capacity to see if a production forecast of 690,000 bpd.
rise is possible. However, “based on the positive results of
“As Johan Sverdrup is a field with high profit- the capacity test where we produced at rates of
ability and low CO2 emissions, a production rise over 500,000 bpd of oil, we are now working on
is great news,” Equinor said. “The field has low solutions to increase the water injection capacity,
operating costs, providing revenue for the com- which should allow us to further increase daily
panies and Norwegian society, even in periods production capacity beyond this level by mid-
with low prices.” 2021.” ™

NEWS IN BRIEF
Bosnia’s BH-Ga to cut gas take effect on November 30 and could last for which €179mn came from a European Union
four months.
grant.
prices by 8.5% in Jan on oil products demand, which causes a very Transgaz has managed and financed the
“The COVID crisis has a negative impact
Romanian state gas transport company
Bosnian gas supplier BH-Gas has said it sharp deterioration of refinery margins,” project.
plans to cut natural gas prices for domestic Total said. “The first phase of the BRUA project
distributors by 8.5% on January 1 2021. “In this context, the Donges refinery is is completed and, once operational, will
If the proposal is approved, wholesale operating at a loss. We have decided to halt it strengthen Romania’s energy independence
prices will drop to BAM485 ($294) per 1000 (...) for the months to come, awaiting better and ensure the diversification of gas sources,”
cubic metres from BAM530, the company economic conditions”, it added. said Dragan at the Romanian International
said in a statement on November 20. It said the €450mn ($534mn) Gas Conference.
BH-Gas said that it made the proposal modernisation of the 220 000 barrels per day The project’s second stage aims to connect
after taking into account the movements facility was nonetheless ongoing. the future offshore gas exploitation sites
in the price of Russian natural gas and in Romania’s Black Sea section to BRUA,
analysing the current parametres of global thus allowing the country to export part of
prices of oil and oil products. Transgaz completes first the Black Sea production to Hungary and
Previously, BH-Gas cut its wholesale Austria.
natural gas prices by 9.4% to BAM530 as of phase of BRUA pipeline in
May 1.
Romania Spanish October LNG

Romania has completed the first phase of the imports decline
Total to suspend operations BRUA gas pipeline project on its territory, Spain’s imports of LNG dipped during
announced Dan Dragan, a state secretary in
at Donges refinery the Ministry of Economy and Energy. October, terminal operator Enagas said in its
The project, which connects Bulgaria,
monthly report.
Total has announced that operations at its Romania, Hungary and Austria, will LNG imports stood at 13.26 TWh in the
Donges refinery in western France will be increase Romania’s natural gas export (and month, Enagas said, down 31.5% year on
halted over the coming months because the import) capacity with Hungary to 1.75bn year. For the year so far, LNG imports have
facility was losing money due to the impact cubic metres (bcm) per year and the export come to 197.79 TWh, it said.
of the COVID-19 pandemic, according to capacity to Bulgaria to 1.5 bcm per year. The United States remains the top
Reuters. supplier of chilled fuel to Spain. A total of
Union sources said the stoppage would The first stage’s cost was €479mn, out of 4.49 TWh of U.S.-produced LNG landed

Week 47 26•November•2020 www. NEWSBASE .com P19