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PSA’s inspection report on Norwegian oil fund hits all- of 250mn barrelsof oil. The partners are Aker
BP with 35% and Wintershall Dea with 25
Hammerfest LNG completed time high per cent working interests.

Equinor has received the report of the Norway’s savings account has hit an all-time
Petroleum Safety Authority Norway (PSA) high valuation following a stock market rise Serbia hopes to privatise
after its inspection of the major accident and and depreciation of the krone.
electrical system at Hammerfest LNG in the On the morning on November 12, petchems producer by end
period September 21 and 24 2020. Equinor Norway’s oil fund hit a new all-time high
has started improving the conditions that led value of NOK10.93 trillion, or approximately of 2021
to the order, deviations and improvement $1.2bn, The valuation tops the previous
areas indicated in the PSA report. record of NOK10.88 trillion set in mid- Serbia’s government is looking to complete the
In a press release published on October October. privatisation of petrochemicals producer HIP
2 Equinor informed about the PSA’s verbal Petrohemija by the end of 2021, Economy
summary of the inspection and that the Minister Andjelka Atanaskovic said on
company had immediately started improving Lundin drills dry well in the November 17.
the conditions pointed out by the PSA. “I hope for some favourable
The PSA’s report in writing confirmed Barents Sea developments ... and that we may finished
the findings communicated in the verbal HIP Petrohemija’s privatisation next year,
summary and concludes that a systematic Swedish oil and gas company Lundin has not the minister said.
approach to the application and execution been able to find any hydrocarbons at the In October 2019, the chairman of
of deviation handling is missing. The report Polmak well exploration well in the Barents Russia’s Gazprom Neft, Alexander Dyukov,
further indicates a lack of correction and Sea offshore Norway. said the company was interested in the
follow-up of conditions pointed to by the Lundin said that it completed exploration acquisition of HIP Petrohemija.
PSA during former inspections. well 7221/4-1 targeting the Polmak prospect Serbian oil and gas group NIS
The PSA report states that the inspection in licences PL609 and PL1027 in the [BEL:NIIS], majority-owned by Gazprom
has proven serious breaches to the southern Barents Sea. Neft, owns 12.72% shareholding interest
regulations on deviation handling and orders According to the company’s in HIP Petrohemija, according to the
Equinor to review the company’s system announcement on Monday, the well was teaser prospectus of the petrochemical
for recording and follow-up of identified classified as dry. The main objective of the group posted on the website of Serbia’s
deviations, secure handling of identified well was to prove hydrocarbons in Triassic privatisation agency.
deviations and implement measures that aged sandstones within the Kobbe formation
are required to secure compliance with the of the Polmak prospect.
company’s systems for recording and follow- The well encountered indications of Lukoil switches Serbian
up of deviations. hydrocarbons in a nine-meter interval
“We take the feedback in the PSA’s in poor quality reservoir in the targeted unit to different subsidiary
inspection report very seriously. We will formation.
study the feedback carefully and respond The well was drilled 30 km east of the Austria-based Lukoil International GmbH
to the orders and close the deviations. We Johan Castberg discovery, by the West Bollsta has acquired the 99.8% stake of Dutch-based
have started implementing, or already semi-submersible drilling rig. Lundin Energy Lukoil Europe Holdings in Lukoil’s Serbian
implemented, measures regarding several is the operator of Polmak with a 47.5% unit, Lukoil Serbia said on November 17.
of the deviations stated in the PSA’s report, working interest. Lukoil International has acquired a total
and we will work on closing the remaining The partners are Wintershall Dea with of 11.1mn shares of Lukoil Serbia from
issues with quality by deadlines agreed with 25%, Inpex with 10%, DNO Norge with 10% Lukoil Europe Holdings, Lukoil Serbia said
the PSA,” says Grete B. Haaland, senior vice and Idemitsu Petroleum with 7.5% working in a filing with the Belgrade Stock Exchange.
president for Equinor’s onshore plants. interests. Lukoil Europe Holdings handles the
“The employees at Hammerfest LNG are Lundin spudded the Polmak well in European operations of Lukoil. The company
working hard to ensure safe operation, follow mid-October. Only days after the spud, a owns and operates oil and gas exploration
up measures and carry out improvements at 22.9 metre-long, 26.5-tonne pipe became and production assets.
the plant. They are now working on repairing detached from the handling equipment on
and resuming operation safely at the plant the West Bollsta, skidded and fell to the drill
after the consequential damages of the fire floor. Fortunately, there were no injuries. Equinor weeks contractors
in September. The PSA’s inspection report Soon after the incident the Norwegian
documents that some deviations have not offshore safety watchdog, the Petroleum for Northern Lights HDD
been properly followed up, and we will now Safety Authority Norway (PSA), started an
go through and improve our systems and investigation on the rig. works
processes. This will be done in collaboration Operated by Seadrill Europe
with our employees in the follow-up of Management, this drilling rig received an Norwegian energy giant Equinor has invited
the inspection report going forward,” says acknowledgement of compliance (AoC) from contractors to show interest for a pre-
Andreas Sandvik, vice president of the the PSA in October 2020. qualification process related to the Horizontal
Hammerfest LNG plant. The West Bollsta rig will now proceed to Directional Drilling (HDD) works for
drill the Lundin Energy (40%) operated Bask the landfall of CO2 pipeline as part of the
prospect in PL 533B. Well 7219/11-1 will Northern Lights project.
target Paleocene aged sandstones, estimated The works will cover the engineering,
to hold gross unrisked prospective resources procurement and construction of HDD

Week 46 19•November•2020 www. NEWSBASE .com P19