Equinor sees new hope in the north after the disappointment last year

The Barents Sea is the future of the Norwegian oil industry, says the industry itself.

It is also in these little explored areas that the opportunity to make great discoveries is the largest

Back after downturn [19659010] first exploration drilling in the Barents Sea for several years . The company had then paused in the north after the search in 2013 and 2014 only gave a conclusion of twelve attempts.

Expectations last year were high, but the result was still disappointing. Only one conclusion of importance was made in the five wells

– We hoped to make a great discovery that could defend an independent development. At the same time, we were aware of the uncertainty. The Barents Sea is huge and we must be patient, says Morten Eek, press contact in Sysla

Well of exploration in the Barents Sea

• 2018: 10 (estimate)
• 2017: 15
• 2016: 4
• 2015: 7
• 2014: 13
• 2013: 10
• 2012: 5
• 2011: 7
• 2010: 1
• 2009: 0 [19659005] 2008: 8
• Source: Norwegian Petroleum Directorate

Now Equinor is ready for new attempts. In August, drilling of the first of four exploration wells begins.

A well in the Barents Sea costs an average of 200 million NOK at Equinor. Thus, the company invests more than two billion dollars in exploration for more than two years.

– This year, we also hope to make great discoveries, but we know that uncertainty is great. However, this year's exploration is completely independent from last year, so we start with white sheets, says Eek.

Morten Eek aboard Songa Enabler. Photo: Fredrik Refvem

Programming next year

This year it is the Skruis well with the greatest expectation.

– This is a good prospect in a known area. Skruis is close to the Johan Castberg field, which is already under construction and will begin production in 2022. The proximity allows to put into production can be linked to Castberg.

Even though this year 's exploration has not started yet, Equinor is already planning more exploration next year.

– We will look regardless of how this year goes and works Morten Eek

– It is important for us to clarify the potential. Other areas of the Norwegian continental shelf are well known and mature. But we have a long-term approach, says Eek

– Important with major discoveries

In the annual resource report released earlier this summer, the Norwegian Petroleum Directorate highlights the importance of the sea from Barents. "The new discoveries in the Barents Sea are becoming increasingly important as production in the south begins to fall around 2025."

– We are excited. The year 's wells will test other tanks and exploration models than last year. Wenche Tjelta Johansen, Deputy Director of Exploration at the NDP

She does not hide the fact that what happened last year was a slowdown for Equinor and others companies.

a little disappointing. But as all new exploration targets will be tested this year, this year's campaign has nothing to do with last year.

Ten wells in total

– Is it crucial to make significant discoveries this year? the results. At the same time, there are still vast areas in the Barents Sea that have not been studied. As a result, there will be tremendous undisturbed potential, regardless of the situation this year. At the same time, there may be a psychological effect here. If no discovery is made, some companies might lose confidence and it is therefore important to find results, says Tjelta Johansen.

According to the DO study, ten exploration wells will be drilled in the Barents Sea this year. b, e, w, n, t, p) {if (f.fbq) return; n = f.fbq = function () {n.callMethod n.callMethod.apply (n, arguments) n.queue .The button (argument)}, if f._fbq = n (f._fbq!); n.push = n; n.loaded = 0; n.version = 2.0 & # 39 ;; n.queue = [] t = b.createElement (e); t.async = 0; t.src = v; s = b.getElementsByTagName (e) [0]; s.parentNode.insertBefore (t, p)} (window, document, "script" https: //connect.facebook.net/en_US/fbevents.js'); FBQ (& # 39 ;, & # 39; 218355265574934 & # 39;); FBQ (& # 39; View & # 39; page); [ad_2]
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