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.
Recommended Reading
Could Carbon Capture be Mission Impossible?
2022-11-29 - CCUS has the potential to decarbonize 45% of remaining emissions from carbon-intensive industries, according to McKinsey & Co. research, but achieving that level of reduction is mission impossible with the current level of investment.
TC Energy Sees Higher Costs for Coastal Gaslink Pipeline in 2023
2022-11-29 - Long-delayed natural gas pipeline’s costs to exceed current $7 billion estimate, company says.
Forty Under 40: Preshit Gawade, Baker Hughes
2022-11-29 - Today's featured Forty Under 40 honoree is Preshit Gawade, Ph.D., who serves as executive director of new energies at Baker Hughes in Houston.
BP Weighs Ending its 70-Year-Old Statistical Review of World Energy
2022-11-28 - CEO Bernard Looney has radically shifted BP’s focus since taking office in 2020 and its Statistical Review of World Energy report has been seen by some BP executives as detrimental to the company’s new direction, sources told Reuters.
Italy Applies 50% Windfall Tax on Energy Companies’ Extra Income
2022-11-28 - By 0930 GMT, shares in Eni SpA and Enel were down respectively around 2% and 1.7%, underperforming Italy's blue chip index, but broadly in line with Europe's STOXX index for the energy sector which fell 1.7%.