Tag: Equinor

Faroe Petroleum in asset swap deal with Equinor

Faroe Petroleum in asset swap deal with Equinor

British firm Faroe Petroleum, which was subject to a hostile bid by DNO, has agreed a deal that will see it swap oil and gas assets with Norwegian state-owned company, Equinor. The non-cash deal will enhance Faroe’s output and cash flow while securing Equinor’s stakes in fields located in the […]

Big oil drills North Sea’s last frontier

Big oil drills North Sea’s last frontier

Some of the world’s largest oil companies have invested huge amounts of money into the one of the North Sea’s oldest offshore basins. Projects such as those on BP’s Clair field in West of Shetland have provided a new lease of life to the region that was once expected to […]

Equinor to lead North Sea output

Equinor to lead North Sea output

Norway’s Equinor will lead production in the North Sea over the coming seven years a new report by GlobalData has discovered. The report that focused on the North Sea area including the UK, Norway, Denmark and the Netherlands found Equinor will be leading a number of big projects due to […]

Equinor strikes deal for Chevron North Sea stake

Equinor strikes deal for Chevron North Sea stake

Norwegian energy giant Equinor has reached a deal with Chevron to acquire its stake in the Rosebank oilfield in the North Sea, which could release one of the last big finds in the UK sector. Equinor will acquire a 40% stake of the project in the deal that highlights Norway’s […]

Equinor increases North Sea resource estimate

Equinor increases North Sea resource estimate

Equinor has increased its estimates of its giant Johan Sverdrup oil field in the North Sea and has said development costs will be for the project will be significantly reduced. The estimates for the resources at the site, that was heralded as one of the largest North Sea discoveries, was […]

Tepid interest in US offshore leases

Tepid interest in US offshore leases

Less than 1% of plots offered in the latest US auction of Gulf of Mexico exploration leases were bid on by oil companies, representing a lack of interest in the region for the second time this year. Exxon Mobil Carp was the biggest winner of the auction with 25 blocks […]

Unions launch Mariner strike

Unions launch Mariner strike

The trade union Unite will ballot its Aker Solutions workers on industrial action that could cause significant disruption to Equinor’s Mariner development off of East Shetland. Workers on the $4.5 billion site dropped their tools as part of an “unofficial strike” in April over pay and working conditions after which […]

Ramco deal with Equinor worth £7.5 million a year secures 70 jobs

Ramco deal with Equinor worth £7.5 million a year secures 70 jobs

North-east energy company Ramco has secured a £7.5 million a year deal with Norwegian energy giant Equinor, formerly known as Statoil, which will help seal 70 jobs and create more if the workload increases over the course of the contract. The company based just outside of Aberdeen specialises in the […]