Page 13 - Euroil Week 09 2020

EurOil
NEWS IN BRIEF
EurOil
spud in early August 2019, using the Maersk Resilient jack-up rig. IOG reached a total depth at the appraisal well, confirming a gas discovery, in September 2019. The company then started the analysis required to reach a definitive view on resource range, reservoir quality, and deliverability.
In December 2019, IOG said that the gas discovery made at the Harvey location had appeared to be sub-commercial. However, a further mapping indicated the presence of a larger – potentially commercial – structure at Harvey up-dip to the northeast of the previous 48/23-2 well.
February 28 2020
Turcas Petrol, Perenco to explore for oil in Turkey
Turkish energy company Turcas Petrol has signed a deal with Amsterdam-based Perenco to jointly explore for oil in the central Anatolian province of Denizli.
“Pursuant to the farm-out agreement, 50% of oil exploration utilization rights in the Denizli license area will be transferred to Perenco,” Turcas said in a filing with Borsa Istanbul.
Perenco will perform the research and carry out the necessary tests, the statement added.
In the event that the test results are successful, and the licence area is viable for oil production, Perenco will provide capital expenditures up to $3mn, Turcas said.
Turcas is active in fuel retail and
lubricants distribution as well as conventional and renewable power generation.
Its subsidiary Shell & Turcas Petrol operates a network of more than 1,000 fuel stations across Turkey. In the field of energy, the company has a joint venture with RWE. It owns a 13% stake in Atas, Turkey’s 3rd largest oil terminal in Turkey.
bne IntellIiNews, March 1 2020
Equinor reports increased
purchases from Norwegian
suppliers in 2019
In 2019 Equinor purchased goods and services worth NOK161.6bn from more than 9,000 suppliers globally. NOK113bn, i.e. 70% of total purchases, went to suppliers with a Norwegian billing address.
“A competitive supply industry is highly important for Norway and for Equinor. During the last years we have seen a steady growth in the Norwegian content of our total procurement: from 61% in 2017, to 67% in 2018 and to 70% in 2019. This is
a recognition of the good work done by
the Norwegian suppliers to respond to the tough transition in the energy sector in recent years,” says Peggy Krantz-Underland, Equinor’s chief procurement officer.
Equinor’s total procurements increased from NOK141.7bn to NOK161.6bn from 2018 to 2019. This is related to the high project activity, increased exploration and
new fields in production in the company. In 2019, five Equinor operated fields
were put in production, including the giant Johan Sverdrup field on the Norwegian continental shelf and the Mariner field on the UK continental shelf.
Equinor is investing in a world-class project portfolio coming on stream towards 2026, representing 6 billion barrels to the company. Also in the renewables business, the project activity will increase during
the next years as the Dogger Bank and Empire Wind projects are being matured. These projects open new opportunities
for the supply industry in Norway and internationally.
The high activity makes it is even more important to focus on costs,
quality and efficiency and to safeguard the good improvements achieved by the industry. This will allow to stay resilient through cycles and take advantage of new opportunities.
“During the last years we have achieved important efficiency gains together with suppliers. We have transformed our cost base, our drilling performance and how we develop projects. This has enabled Equinor to progress and sanction new projects in a challenging downturn period, awarding contracts and giving jobs to our suppliers and sub-suppliers. The industry will continue to be cyclical and volatile.
To minimise the cycles, we should aim for a stable and predictable activity and a sustainable cost level”, says Equinor’s executive vice president for Technology, Projects and Drilling, Anders Opedal.
Week 09 05•March•2020
w w w . N E W S B A S E . c o m
P13