Output from Equinor ASA’s new Johan Sverdrup oil field in the North Sea will rise to 660,000 barrels per day (bbl/d) by 2022, from 440,000 bbl/d by early 2020, a company executive said Sept. 9.
Output from the field will start up in October and the company is in the process of issuing a sales tender for crude from the field this week, Equinor’s Senior Vice President of Marketing and Trading Tor Martin Anfinnsen told reporters on the sidelines of the Asia Pacific Petroleum Conference.
The first cargo will be for 600,000 barrels and the tender will be issued on behalf of all stakeholders in the field, he said.
Plains All American’s Cactus II pipeline became the first major energy project to be denied an exclusion to the tariff on imported steel.
The parties must now renegotiate a deal that would transfer Breitburn's Permian reserves to investors including Elliott and WL Ross through their participation in a $775 million rights offering.
Sustained lower oil prices may lead to Permian consolidation, the return of tough times to other shale plays and U.S. E&Ps helping rebalance global inventories.