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Sverdrup keeps on giving
Equinor and its partners at Norway’s largest oilfield have pulled the trigger on a fresh $1.3b investment that will maintain high output for longer
Equinor hones its ‘high-grade’ global portfolio
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
Equinor streamlines its offshore strategy
Exploration is providing mixed fortunes for IOCs amid higher costs, prompting firms to look towards M&A and safer plays
Norwegian North Sea proving resilient
Low carbon intensity and sizeable projects such as Johan Castberg coming onstream in late 2024 suggest a robust outlook at least until 2030
North Sea production to see minor boost
Taxation strategies in UK and Norway to continue to play important role for a region in which significant volumes of medium sour have offset the loss of similar quality Russian barrels and balanced the influx of US light sweet grades
Longboat splits attention between Norway and Malaysia
CEO Helge Hammer speaks to Petroleum Economist about the company’s recent activities and its expansion plans
Wintershall eyes Algeria in post-Russia reboot
The German producer is focusing on the North African country as it looks to strengthen its gas portfolio following its exit from Russia, COO Dawn Summers says in an interview with Petroleum Economist
Core areas key for Norwegian APA awards
The winners of new NCS acreage stress synergies with existing portfolios
Norway’s end-2022 PDO race heats up
The number of projects benefitting from tax breaks is set to top 20
Norway ends gas year at four-year high
A September dip fails to dent highest output since 2018
A platform in Norway
Norway Arctic Aker BP Lundin
Peter Ramsay
9 November 2021
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Norwegian independents diverge on Barents

Aker BP gives up on Arctic exploration, but Lundin expands its presence

“The Stangnestind well was completed early in the [third] quarter and came in as a minor gas discovery, which is not considered to be commercial,” says Karl Johnny Hersvik, CEO of Oslo-listed producer Aker BP. “This actually marks the end of our exploration campaign in the Barents Sea, and we have currently no plans for further activity in the area.” In sharp contrast, its peer Lundin Energy struck a deal with Austria’s OMV at the end of October to increase its stake in the Barents Sea Wisting oil discovery from 10pc to 35pc, just over a year after the purchase of the Norwegian continental shelf (NCS) assets of Japan’s Idemitsu gave it an initial share in the field. So what is driving these

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