North Sea oil news

According to the Norwegian Petroleum Directorate, there are 3.42 million m3 of oil equivalent or 21.52 million boe of remaining reserves in the Brage field.

Transocean has secured work for its Transocean Barents and Transocean Norge drilling rigs.

The first trade of certified carbon neutrally produced oil from the Johan Sverdrup field has been completed with GS Caltex in South Korea.

The contract covers integrated waste management services for Aker BP’s Valhall Flank North and Hod B field development projects on the Norwegian Continental Shelf.

Wood will work with Equinor to drive down costs, increase efficiency and improve sustainability across the company’s Snorre A, Snorre B, Visund, Grane and Martin Linge platforms.

The investigation will look into a possible failure by unnamed companies to maximise economic recovery from the North Sea.

The company's production guidance for 2021 has been increased to between 180 to 195 000 boe/d, from the original guidance of 170 to 190 000 boe/d.

Recoverable resources from the discovery in production licence 554 are estimated at between 1.3 and 3.6 million m3 of oil equivalent, corresponding to 8-23 million boe.

The new facility will enable the Group to simplify its existing capital structure and finance the acquisition of a 26.69% interest in the Golden Eagle Development Area Project in the North Sea.

The company has said that the volumes flowed during the test are equivalent to over 10 000 boe/d.