Oil firms Equinor and Rosneft expect to extract some 250 million barrels of oil and 23 billion cubic meters of gas during the first part of the development of the Severo-Komsomolskoye oilfield in Russia, Equinor said on Dec. 23.
Rosneft holds a 66.67% stake, and Equinor holds the remaining 33.33%, in the joint venture company SevKomNeftegaz that owns the license.
Equinor did not say how much it would invest in the project.
Repsol will still hold a 51% stake in the block after the deal.
Chevron said on Dec. 24 it expects Saudi-Kuwaiti Neutral Zone's Wafra oilfield to return to full production within 12 months.
Saudi Arabia's energy minister said on Dec. 25 the Khafji oil field which is jointly operated with Kuwait would produce 320,000 oil barrels per day (bpd) at the end of 2020, Saudi-owned al-Arabiya TV reported.