Tag Archives: Equinor (Statoil)

Statoil’s plan to profit by creating an artificial settlement price for Statoil’s financial and physical propane positions did not materialize as hoped.

As the higher oil prices and the cost cuts resulted in strong cash flows for Big Oil. the companies are now trying to reward their shareholders.

Earlier this week Norway’s Statoil reported yet another dry well in the Barents Sea. some 100 km northwest of the Johan Castberg discovery.

The companies aim to capture 1.5 million tons of carbon dioxide per year in the project'.s first phase.

The other partners are oil majors Shell with 8.1 percent. Total with 3.7 percent and ConocoPhillips with 1.6 percent.

Adnoc plans to merge ADMA-OPCO with the Zakum Development Co.. or Zadco. of which it also owns 60 percent. by the end of the year.

These long-term contracts mean that Hammerfest will be an important helicopter base for us for many years to come.

In the first half of 2017. the ACG field production averaged 585000 bpd from the six platforms.

Recent exploration over the past two years has more than doubled the field’s estimated reserves to about 813 million boe.

Statoil has a 75% stake in the project. with the remaining 25% owned by Masdar.