Page 19 - EurOil Week 34 2021

EurOil PROJECTS & COMPANIES EurOil

Lundin pumps first gas from

Rolvsnes field to UK shore

NORWAY THE first gas from Lundin Energy’s Rolvsnes development for Rolvsnes, further extending
oilfield off Norway has arrived at the St Fergus the plateau production period for Edvard Grieg,”
Rolvsnes is the first of terminal in the UK, SAGE pipeline operator Lundin said.
two satellite fields of Ancala Midstream Acquisitions announced on The test could also de-risk resources in chal-
the Edvard Grieg field August 20. lenging weathered and fractured granite base-
that Lundin plans to Rolvsnes is the first of two satellite fields of the ment reservoirs on the Utsira High, it said.
commission this year. Edvard Grieg field that Lundin Energy plans to The company aims to file a plan for develop-
commission this year. The second is the Solveig ment and operation with the Norwegian author-
deposit. Ancala Midstream secured a contract ities by the end of 2022 after collecting sufficient
worth over GBP10mn ($13.6mn) to handle gas data. The project will gain from tax breaks
from the two fields in March this year. approved by Norway’s parliament last year in
Lundin announced first oil from an extended response to the oil price collapse. These breaks
well test (EWT) at the Rolvsnes field on August reward companies for approving new projects.
10. An appraisal well drilled at the site in 2018 that Lundin CEO noted that extending Grieg’s
flowed 7,000 barrels per day (bpd) was converted production plateaus was one of the company’s
into a development well and tied to the Grieg plat- priorities.
form. The project is on schedule and on budget, Ancala Midstream said it aimed to transport
Lundin said, targeting a resource base of between and process 60% of all gas volumes transported
14 and 78mn barrels of oil equivalent (boe). through SAGE by the fourth quarter. The system
“The objective of the EWT is to gain a bet- serves the UK hubs at Beryl, Britannia, Golden
ter understanding of the reservoir properties, Eagle and Scott, as well as Alvheim, Grieg and
reservoir connectivity and long-term produc- Ivar Aasen in Norwegian waters. SAGE runs on
tion performance of the field and if successful, 100% renewable energy, minimising its Scope 2
this test has the potential to unlock a full field emissions. ™

NEWS IN BRIEF

Hungary in talks with between Hungary and Russia, Szijjarto said Romania’s OMV Petrom
he would travel to St Petersburg on Monday
Russia on new gas to finalise a new long-term gas delivery and TeraPlast shares to be
contract with Gazprom. The 15-year contract
supply deal and vaccine could be signed in the autumn, replacing the included in FTSE emerging
current one that expires at the end of 2021.
production license credit line to support partnerships between markets indices
Magyar Eximbank has opened a $600mn
Negotiations on bringing licenced Hungarian and Russian businesses, he said. Shares of Romania’s OMV Petrom (SNP) and
production of Russia’s Sputnik V coronavirus Hungary will also participate in a capital TeraPlast (TRP) will be included in the FTSE
vaccine to the planned national vaccine raise in the Budapest-based International indices for emerging markets (EMs) from
plant in Debrecen are at an advanced stage, Investment Bank (IIB), he added. September 20, the Bucharest Stock Exchange
Minister of Foreign Affairs and Trade Peter Szijjarto noted that Hungarian oil and gas (BVB) announced on August 23.
Szijjarto said after meeting with his Russian company MOL recently started construction Romania was raised to emerging status
counterpart Sergey Lavrov in Budapest. of a HUF4bn bitumen plant in Tatarstan and by FTSE Russell, on September 21, 2020
The necessary technology transfer is said talks on a HUF18bn production base after years of work by the BVB to achieve the
expected to take place by the end of 2021, Russian cosmetics company Arnest plans in upgrade. This opened up the local capital
allowing production to start by end-2022. northern Hungary are moving forward. market to a wider investment universe, and,
The cornerstone of the new vaccine plant Russian-Hungarian Transmashholding according to a BVB statement, resulted in
was laid last year in Hungary’s second- is to supply 1,300 railway wagons to the a higher number of investors and in turn
largest city. Hungary will apply a tried and Egyptian state railway for €1bn. Of that higher demand for assets listed on the BVB.
tested inactivated virus technology in the order, some 443 carriages were delivered, he The entry of OMV Petrom and TeraPlast
development of its coronavirus vaccine, said. Talks on the delivery of an additional shares “thus consolidates its weight in FTSE
similar to that used by Sinopharm or 200 sleeper cars to Egypt are also underway. Russell indices, having five companies
Sputnik. Hungarian low-fare carrier Wizz Air will present in all the global provider’s indices:
Cooperation with Russia has produced set up a base in St Petersburg and increase its Banca Transilvania, Nuclearelectrica, OMV
“practical and pragmatic results, despite a not number of flights to the city. Petrom, TeraPlast and Bittnet (BNET),” the
too supportive international environment”, BVB said on September 23.
Szijjaro said. OMV Petrom is the largest energy
Amid a raft of other co-operative ventures company in Southeast Europe, as well as the

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