Page 17 - EurOil Week 31

EurOil POLICY EurOil

Poland fines Gazprom in Nord Stream 2 probe

POLAND POLAND’S anti-monopoly office UOKiK fined Stream 2. Despite its legal obligation to co-oper-
the Russian gas company Gazprom PLN213mn ate, the company failed to provide such informa-
The Polish regulator (€48.27mn) for “failure to co-operate” in tion,” UOKiK said in a statement.
says those that financed UOKIK’s investigation into the construction of Nord Stream 2 is running a year behind
the project should have the controversial Nord Stream 2 pipeline, the schedule after meeting legal obstacles in the EU
sought its permission. office said on August 3. and the US. Brussel legislated to apply its energy
Nord Stream 2 will double Russia’s capacity to regulations to the pipeline, meaning Gazprom
pump gas directly to Germany via the Baltic Sea. may have to divest the pipeline and offered its
Poland, Ukraine and other CEE states are wary flow capacity to third parties.
that the new pipeline will be as much a business The US has also threatened sanctions against
venture as Moscow’s pressure tool on the region, the pipeline. “We will do everything we can to
Ukraine in particular. make sure that that pipeline doesn't threaten
UOKiK says the companies involved in the Europe," US Secretary of State Mike Pompeo
financing of the controversial pipeline should told a Senate hearing on July 30.
have asked its permission . It claims its approval “We want Europe to have real, secure, stable,
was necessary safe energy resources that cannot be turned off in
The companies in question are Gazprom and the event Russia wants to,” Pompeo added.
its international partners in the Nord Stream 2 But the project has by now advanced enough
project: France’s Engie Energy as well as Uniper, for Gazprom to eye the possible sanctions as not
OMV, Royal Dutch Shell and Wintershall, all via insurmountable. The Russian company said in
registrations in the Netherlands. late July it would be able to resume the stalled
“We requested Gazprom provide us with construction of the pipeline in early August with
contracts concluded by his subsidiary with other just a 120-km section left to complete in Danish
companies financing the construction of Nord waters. ™

PROJECTS & COMPANIES

Neptune reports Norway’s

biggest oil find of the year

NORWAY NORTH Sea-focused Neptune Energy has con- Norway, Odin Estensen, commented. “It under-
firmed the discovery of oil at the Dugong well off lines our commitment to continue investing
Neptune believes the Norway, hailing it as the country’s largest find so in activities in the Norwegian sector, which is
licence could hold far this year. an integral part of our geographically diverse
up to 153mn boe of Neptune reported in early July that it had portfolio.”
recoverable resources. identified hydrocarbons at the well at production Neptune operates in UK, Norwegian and
licence (PL) 882, without specifying the size or Dutch waters, with the Netherlands representing
composition of the find. its main area of focus.
In a statement on August 4, though, the firm Dugong may open up additional opportuni-
said it had found between 6.3 and 19.0 cubic ties in surrounding licences, potentially estab-
metres or around 40-120mn barrels of recovery lishing a new core area for Neptune off Norway,
oil equivalent. The Dugong discovery has also Estensen said.
“significantly” de-risked another prospect at the Neptune operates PL 882 with a 40% stake,
licence, which Neptune now estimates to contain while its partners Concedo, Petrolia and
33mn boe of hydrocarbons. Idemitsu Petroleum each have shares of 20%.
This means the licence’s resource potential is Dugong was sunk 158 km off Floro in waters
as high as 153mn boe. 330 metres deep.
The Norwegian Petroleum Directorate Dugong was drilled by the Deepsea Yantai
(NPD) said separately that the Dugong well semi-submersible owned by CIMC and oper-
had encountered an 80-metre oil column, ated by Odfjell Drilling. The rig is now en route
while a sidetrack drilled by Neptune had to Neptune’s Gjoa field, also in the North Sea,
struck into oil columns of 100 metres and 80 where it will drill production wells.
metres. In related news, Spirit Energy has just com-
“This is a significant discovery and strate- pleted a wildcat well at PL780 in the North Sea,
gically important for Neptune Energy in the some 5 km north of the Ivar Aasen field. But that
region,” the company’s managing director for borehole was reported by the NPD as dry. ™

Week 31 06•August•2020 www. NEWSBASE .com P17