Page 19 - Euroil Week 43 2020

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be drilled about 1 km west of the 16/4-6 S days, Wintershall Dea said that the West executive vice president for Development &
Solveig oil discovery. Mira rig will drill three production wells Production International. He has been the
Production licence 981 was awarded through one of two subsea templates, and company’s CFO since August 1 2018.
on 1 March 2019 (APA2018). This is the three water injection wells, through the Skeie currently serves as the senior vice
first exploration well to be drilled in this second. president for CFO performance management
licence. The start of drilling caps off a series and control. Having joined Equinor in 1996,
It is worth reminding that Lundin of landmarks for the development since Skeie has held several leadership positions
started drilling the wildcat well 7221/4-1 installation season began in March. within finance, business development and
– Polmak – using the West Bollsta rig on In May, the manifolds were installed economic analysis, including as senior
10 October 2020. The well is located in the ahead of schedule. Then the topside module vice president for CFO Finance, and
Barents Sea off Norway. was installed on to the Neptune Energy- vice president for international business
This is the rig’s first-ever well and the operated Gjoa platform in preparation for development, project execution and
first of three high-impact exploration receiving oil and associated gas from the economic analysis.
prospects to be drilled by the company in Nova field.
the Barents Sea until the end of 2020. This summer the risers, which connect
However, during these drilling the pipelines to the platform were also put in TechnipFMC loss narrows in
operations, a serious safety incident place.
occurred prompting an investigation by the “Despite developing this field at a time of Q3
Norwegian safety watchdog, the Petroleum almost unprecedented challenges from the
Safety Authority. Covid-19 outbreak, all involved have worked UK-based TechnipFMC has reported a third-
The incident happened on West Bollsta’s tirelessly as One Team to safely deliver the quarter 2020 loss of $3.9mn, against a $119
drill floor when a length of the riser was Nova milestones according to plan. Getting million loss a year earlier.
being lifted from a horizontal position the rig into placemarks the start of the last Adjusted diluted earnings per share,
to the vertical with the aid of hydraulic phase for the Nova project”, said André excluding charges and credits, was 16 cents,
handling equipment. Hesse, Nova Project Director at Wintershall with analysts projecting some 22 cents.
Said to measure 22.9 metres long, the Dea. Revenues for the quarter were flat at
pipe weighs 26.5 tonnes. It had almost The Seadrill-operated West Mira rig has $3.34bn.
reached vertical when it became detached been equipped with an energy-saving hybrid TechnipFMC has secured quarterly order
from the handling equipment, skidded and battery power plant, lowering emissions. As intake of $2.23bn, down 14% from $2.61bn
fell to the drill floor. a subsea tie-back to existing platform Gjøa, in Q3 2019.
The West Bollsta semi-submersible the Nova field also sustainably benefits from Subsea division generated $1.6bn and
drilling rig is capable of operating in harsh in-place infrastructure, with no need for a operating profit of $20mn.
environment areas and ultra-deep waters major new facility. Subsea reported second quarter revenue
of up to 10,000 feet. When it comes on stream in 2022, Nova of $1.5bn, up close to 12% compared to the
The semi-sub was in early October will be the company’s fourth subsea field in corresponding period in 2019.
given an Acknowledgement of Compliance production. Revenue growth in project activity was
(AoC) by the Petroleum Safety Authority. First oil is unlikely in 2021, as earlier most significant in the US, Norway and
forecasted, due to the impact of Covid-19 on Africa.
the topside part of the project. No updates were made to the previous
Wintershall starts Nova guidance that was issued on July 29 2020.
2020 revenue guidance for subsea division
field drilling Equinor CFO resigns is in a range of $5.3-5.6bn. EBITDA margin
is at 8.5%.
Oil and gas company Wintershall Dea has Equinor revealed on October 23 that its At the end of Q3 2020, TechnipFMC
started drilling the first of six wells on the executive vice president and chief financial backlog was $19.64bn ($24.1bn in Q3 2019),
operated Nova field in the Norwegian North officer, Lars Christian Bacher, has resigned including subsea backlog of $7.22bn.
Sea. from his position, effective November 1. The company ended the period with cash
With most of the subsea work already Svein Skeie has been appointed acting and cash equivalents of $4.24bn; net cash was
complete and a dedicated module installed executive vice president and chief financial $384mn.
on the host platform, Gjoa, the start of officer and will become a member of For the nine months of 2020 TechnipFMC
drilling represents the beginning of the final Equinor’s corporate executive committee, booked loss of $3.25mn, against loss of $1mn
major packet of work in the development of reporting to the chief executive officer. in 2019.
the Nova field, Wintershall Dea explained on Bacher will remain employed with the Revenue in the first three quarters was at
Tuesday. company until May 31 2021. $9.62bn, versus $9.68bn in 2019.
To remind, the Nova subsea campaign Bacher joined Equinor in 1991 and has
started in May 2020 and it was completed in held a number of leadership positions.
early September following the installation of He previously worked as a senior vice
the risers on the field. president and country manager for Equinor’s
Scheduled to be on site for around 400 Canadian operations, until he was appointed

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