Energy Investing - Oil discoveries offshore Newfoundland MontyHigh - You might like to read this. - Energy Investing - InvestorVillage
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Msg  294883 of 298876  at  10/30/2020 6:26:55 AM  by


The following message was updated on 10/30/2020 7:06:43 AM.

 In response to msg 294710 by  MontyHigh
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Re: Oil discoveries offshore Newfoundland MontyHigh - You might like to read this.

Lundin gave Nos. today - Also the field with an average @
$ 20 per barrel, first electrified field and el. from ashore. 
Surely becoming a requirement on the Norw. shelf, going forward; the envierment political party is getting a stronger
support in the polls. Actually latest poll Green + Lefties CAN get a majority in the Parliament together. Very likely.

Aker Solutions to Electrify Edvard Grieg Platform

Lundin field with Equinor :

Lundin Energy, a Swedish oil and gas company with operations in Norway, has hired the Norwegian engineering and construction giant Aker Solutions to help it electrify its Edvard Grieg offshore oil platform in the North Sea.

Under the contract, Aker Solutions will be responsible for the integration of a high-voltage electrical boiler package on the platform.

The electrical boilers will replace the gas turbines which generate heat on the platform today, making Edvard Grieg a fully electrified platform.

All heating and power needed for the platform will come from electrical power from shore by 2022. This accounts for an annual emission reduction of around 200,000 metric tons of CO2. The platform will be electrified together with the Johan Sverdrup Phase 2 project as part of the Utsira High Area power grid.

"We look forward to working with Lundin to fully electrify the Edvard Grieg platform," said Linda Litlekalsøy Aase, executive vice president, brownfield projects, at Aker Solutions.


Report for the nine months ended 30 September 2020
  • Strong free cash flow generation of MUSD 546 with an achieved oil price of USD 38.07 per boe for the first nine months.

  • Third quarter production of 157.5 Mboepd and free cash flow of MUSD 164

  • Full year production guidance increased from 157 Mboepd to 161 - 163 Mboepd and fourth quarter production targeting approximately 175 Mboepd

  • Edvard Grieg reserves increased by 50 MMboe to 350 MMboe gross 2P ultimate recovery and plateau production extended by a further year to late 2023

  • First nine months net carbon intensity for all assets of 2.7 kg CO2 per boe, below full year guidance of less than 4 kg CO2 per boe

  • Acquired portfolio of interests in the Barents Sea, including 10 percent working interest in high quality Wisting oil discovery and further interest in the Alta discovery from Idemitsu Petroleum Norge AS (IPN) for USD 1.80 per boe

  • High impact exploration programme commenced in October 2020, targeting more than 350 MMboe net unrisked resources from four wells

  • Nick Walker, COO, appointed President and CEO and Daniel Fitzgerald appointed COO from 1 January 2021

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