Ministry of Petroleum and Energy

Kobra East & Gekko (KEG) on stream ahead of plan

Retrieved on: 
Thursday, October 26, 2023
FPSO, IL Tyrving, OTCQX, KEG, Joint Planning and Development Office, Ministry of Petroleum and Energy, Ministry, PDO, Partnership, Peter Dolving, CO2, Investment, ConocoPhillips, Petroleum, Natural gas, Construction, Beer, Alvheim FPSO

FORNEBU, Norway, Oct. 26, 2023 /PRNewswire/ -- Aker BP (OSE: AKRBP) (OTCQX: AKRBF) (OTCQX: AKRBY) is pleased to announce that production has started from Kobra East & Gekko (KEG) in the Alvheim area.

Key Points: 
  • FORNEBU, Norway, Oct. 26, 2023 /PRNewswire/ -- Aker BP (OSE: AKRBP) (OTCQX: AKRBF) (OTCQX: AKRBY) is pleased to announce that production has started from Kobra East & Gekko (KEG) in the Alvheim area.
  • This has contributed significantly to the safely and successful 'below budget and ahead of schedule' deliveries.
  • The KEG development comprises the two discoveries Kobra East and Gekko in licence 203.
  • With KEG in production, CO2 emissions per barrel will be significantly reduced and oil production from the Alvheim FPSO substantially increased.

Aker BP's major projects approved by Stortinget

Retrieved on: 
Monday, June 5, 2023
PWP, UI, Storting, Hugin, Committee, Energy, Pesse canoe, Government, Ministry, Ministry of Petroleum and Energy, Investment, Standing Committee on Energy and the Environment, CO2, Environment, Fulla, Oil, Television, Construction, Fenrir, Petroleum, Valhall, Yggdrasil, Munin

FORNEBU, Norway, June 5, 2023 /PRNewswire/ -- Aker BP (OSE: AKRBP) (OTCQX: AKRBF): Today, the Storting has approved Aker BP's plans for development and operation of the Yggdrasil area and Fenris, as well as further development of Valhall.

Key Points: 
  • FORNEBU, Norway, June 5, 2023 /PRNewswire/ -- Aker BP (OSE: AKRBP) (OTCQX: AKRBF): Today, the Storting has approved Aker BP's plans for development and operation of the Yggdrasil area and Fenris, as well as further development of Valhall.
  • We are talking estimated tax revenue of more than NOK 120 billion for our nation," says CEO Karl Johnny Hersvik in Aker BP.
  • "The development projects contribute to Aker BP delivering on the ambition of creating the oil and gas company of the future with low costs, low emissions, profitable growth and attractive returns.
  • All major contracts have been signed and we have started placing thousands of purchase orders to suppliers, both nationally and internationally.

Aker BP moving ahead with nine of ten PDO projects

Retrieved on: 
Tuesday, March 21, 2023
MPE, Chosen-ciphertext attack, Ministry, Development, Ministry of Petroleum and Energy, Troldhaugen, PDO, Edvard Grieg, USD, Investment, EWT, Environmental remediation, Oil, Petroleum

The Troldhaugen project in the Edvard Grieg area, which represents around four percent of the net estimated resources in these projects, has been discontinued.

Key Points: 
  • The Troldhaugen project in the Edvard Grieg area, which represents around four percent of the net estimated resources in these projects, has been discontinued.
  • After this, each licensee must notify the MPE within three months whether they accede to the field development plan or not.
  • Aker BP has notified the MPE that it accedes to all but one of these PDOs, and the development projects are progressing according to plan.
  • The project is no longer considered to have sufficient financial robustness, and Aker BP has decided not to accede to the PDO.

DGAP-News: Energy Capital & Power: The Future of Gas and Investments

Retrieved on: 
Tuesday, April 12, 2022
African Union, Exhibition, Human, AEC, GTA, Wind, Policy, CICAD, Conference, Ministry of Petroleum and Energy, COP26, INPG, Electricity, Gas, Centre International de Formation Européenne, Technology, Natural gas, Republic, ECP, Investment, COP27, Nature, African Energy Commission, Ministry, Future, Growth, Union, Renewable energy, Energy, Petroleum

MSGBC Oil Gas & Power: The Future of Gas and Investments

Key Points: 
  • MSGBC Oil Gas & Power: The Future of Gas and Investments
    Dakar, April 11, 2022 - The second edition of the MSGBC Oil, Gas and Power 2022 Conference and Exhibition is scheduled for September 2022 at the Centre International de Confrence Abdou Diouf (CICAD).
  • Organized by Energy Capital & Power (ECP) ( www.EnergyCapitalPower.com ) and under the aegis of the Ministry of Petroleum and Energies, the meeting is placed under the patronage of H.E.
  • Mr. Macky Sall, President of the Republic of Senegal, with Cos-Petrogaz, Petrosen, INPG, and the African Energy Chamber (AEC) as partners.
  • This year's edition will take place under the theme, 'The Future of Natural Gas: Growth Using Strategic Investment and Policy making.'

Equinor commences first tranche in share buy-back programme

Retrieved on: 
Wednesday, July 28, 2021
Companies, Equinor, Ministry of Petroleum and Energy, Norsk Hydro, New York Stock Exchange, Economy of Norway, Financial markets, Stock market, Financial law, Mortgage-backed security

Equinor (OSE: EQNR, NYSE: EQNR) today commences the first tranche of around USD 300 million, of the new share buy-back programme announced at the Capital Markets Day on 15 June 2021.

Key Points: 
  • Equinor (OSE: EQNR, NYSE: EQNR) today commences the first tranche of around USD 300 million, of the new share buy-back programme announced at the Capital Markets Day on 15 June 2021.
  • For 2021 the share buy-back programme is expected at USD 600 million, including shares to be redeemed from the Norwegian State.
  • The purpose of the share buy-back programme is to reduce the issued share capital of the company.
  • The share buy-back programme will be structured into tranches where Equinor will buy back a certain value in USD of shares over a defined period.

Equinor second quarter 2021 results

Retrieved on: 
Wednesday, July 28, 2021
Companies, Equinor, Ministry of Petroleum and Energy, Norsk Hydro, Economy of Norway

Equinor (OSE: EQNR, NYSE: EQNR) reports adjusted earnings of USD 4.64 billion and USD 1.58 billion after tax in the second quarter of 2021.

Key Points: 
  • Equinor (OSE: EQNR, NYSE: EQNR) reports adjusted earnings of USD 4.64 billion and USD 1.58 billion after tax in the second quarter of 2021.
  • The second quarter of 2021 was characterised by:
    Strong results due to higher prices, sustained value focus and strict capital discipline.
  • IFRS net income was USD 1.94 billion in the second quarter, compared to negative USD 0.25 billion in the second quarter of 2020.
  • At the end of second quarter 2021, Equinor had completed 11 exploration wells with 5 commercial discoveries and 12 wells were ongoing.

Bristow Group Announces Contract Extensions with Equinor, Shell and Neptune in Norway

Retrieved on: 
Monday, July 12, 2021
Companies, Oil companies, Equinor, Ministry of Petroleum and Energy, Norsk Hydro, Bristow Helicopters, Royal Dutch Shell, Neptune

HOUSTON, July 12, 2021 /PRNewswire/ -- Bristow Group Inc. (NYSE: VTOL) today announced four separate two-year contract extensions through April 2024 with Equinor, Shell and Neptune to support its air transportation crew change services for their operations in the Norwegian continental shelf.

Key Points: 
  • HOUSTON, July 12, 2021 /PRNewswire/ -- Bristow Group Inc. (NYSE: VTOL) today announced four separate two-year contract extensions through April 2024 with Equinor, Shell and Neptune to support its air transportation crew change services for their operations in the Norwegian continental shelf.
  • The strong partnership with Neptune and Shell has been ongoing since May 2017.
  • Bristow's current contracts with the three companies expire on April 30, 2022.All contract extensions include two one-year options to further extend the contracts from 2024.
  • Equinor, Shell and Neptune Energy collaborate on flights from the Flor base, and Shell and Neptune have decided to also extend their contracts with Bristow in line with Equinor's contract award.

Presenting strategy to accelerate Equinor’s transition

Retrieved on: 
Tuesday, June 15, 2021
Greenhouse gas emissions, Companies, Equinor, Ministry of Petroleum and Energy, Norsk Hydro, Anders Opedal, Carbon neutrality, Opedal, Business, Oil companies

Today, Equinor ASA (OSE:EQNR, NYSE:EQNR) presents its strategy to accelerate the companys transition while growing cash flow and returns.

Key Points: 
  • Today, Equinor ASA (OSE:EQNR, NYSE:EQNR) presents its strategy to accelerate the companys transition while growing cash flow and returns.
  • Key highlights from the strategy update:
    Accelerating the transition and setting an ambition to reach a 40% reduction in net carbon intensity by 2035, on the way towards net zero by 2050.
  • Our strategy is backed up by clear actions to accelerate our transition while growing cash flow and returns.
  • This is a strategy to create value as a leader in the energy transition, says Anders Opedal, president and CEO of Equinor.

Equinor ASA: Recommendation from Equinor's nomination committee

Retrieved on: 
Tuesday, June 1, 2021
Articles, Companies, Business, Equinor, Ministry of Petroleum and Energy, Norsk Hydro, Corporate law, Committees, Board of directors

The nomination committee in Equinor ASA (OSE:EQNR, NYSE:EQNR) recommends that the company's corporate assembly re-elects all the shareholder elected members of Equinor ASAs board of directors.

Key Points: 
  • The nomination committee in Equinor ASA (OSE:EQNR, NYSE:EQNR) recommends that the company's corporate assembly re-elects all the shareholder elected members of Equinor ASAs board of directors.
  • The nomination committee recommends a re-election of Jon Erik Reinhardsen as chair and re-election of Jeroen van der Veer as deputy chair of the board, in addition to re-election of Bjrn Tore Godal, Rebekka Glasser Herlofsen, Anne Drinkwater, Jonathan Lewis, Finn Bjrn Ruyter and Tove Andersen as shareholder-elected members of Equinor ASAs board of directors.
  • The nomination committee has emphasized the importance of continuity in the board at a time when the company is rapidly changing, including new corporate executive committee.
  • All enquiries to be directed through Equinor Corporate Press Office,

New Investment in Scout Drone Inspection- Equinor Ventures and DNV join in as owners

Retrieved on: 
Friday, March 19, 2021
Companies, Equinor, Ministry of Petroleum and Energy, Norsk Hydro, DNV GL, Technology, Drone, Unmanned aerial vehicle, Articles

TRONDHEIM, Norway, March 19, 2021 /PRNewswire/ --Scout Drone Inspection has successfully closed an investment round of 27.5 million Norwegian kroner.

Key Points: 
  • TRONDHEIM, Norway, March 19, 2021 /PRNewswire/ --Scout Drone Inspection has successfully closed an investment round of 27.5 million Norwegian kroner.
  • Equinor Ventures and DNV joined in the round together with existing shareholders, including Investinor and CoFounder, and new private investors.
  • Scout Drone Inspection (ScoutDI) creates specialized drones and associated cloud-based data analysis services for internal industrial inspection of ship tanks and similar confined space environments.
  • - "We are proud to have Equinor Ventures and DNV as owners of the company.