• 2018 July 9 14:07

    Norwegian Ministry of Petroleum and Energy OKs PDO for Snorre Expansion Project

    The Ministry of Petroleum and Energy has approved the plan for development and operation (PDO) for the Snorre Expansion Project. Investments of just above NOK 19 billion (2017) will increase recovery from the Snorre field by almost 200 million barrels and extend the field life beyond 2040, Equinor said in a press release.

    Snorre Expansion Project is the largest project for improved recovery on the Norwegian continental shelf and provides valuable production and activity benefitting Equinor, partners and society. The project involves a comprehensive subsea development, upgrading of the Snorre A installation, increased gas injection and gas import for injection.

    “Equinor has worked closely with partners and suppliers to realise the development. I am pleased that the plan for development and operation has been approved,” says Margareth Øvrum, Equinor’s executive vice president for Technology, Projects and Drilling.

    The Snorre field was originally estimated to produce until 2011–2014. Now the field life has been extended beyond 2040, and the recovery rate increases from 46 to 51 per cent.

    Scheduled to start production in 2021, the Snorre Expansion Project will be operated and maintained by the existing Snorre organisation in Stavanger. Supplies will still be handled by Fjordbase in Florø.

    Equinor estimates that around 80% of the investments, which are just above NOK 19 billion, will include Norwegian companies. Based on analyses made by Agenda Kaupang approximately 23,000 man-years will be carried out in Norway in the project phase.

    Subject to final regulatory approval, the partners have awarded contracts for the subsea production system to TechnipFMC, fabrication and installation of the pipeline bundle system to Subsea 7, Snorre A modifications to Aibel, drilling and well operations to Transocean and marine installations to Deep Ocean.

    “The project will provide jobs in many places along the Norwegian coast and operation of the Snorre field for 25 more years,” says Arne Sigve Nylund, Equinor’s executive vice president for Development and Production Norway.




2018 December 18

18:21 Uniper SE and MOL enter into agreement on FSRU project in Germany, and one additional LNG transportation agreement
18:00 Throughput of Chinese ports grew by 4.3% to 8.47 billion tonnes in 11M’18
17:46 Rolls-Royce to deliver advanced ship technology to two more expedition cruise vessels for Mystic Cruises
17:43 Aircraft carrier HMS Queen Elizabeth enters LR class
17:27 SOL adds Finnish port of Pietarsaari/Jakobstad to the Zeebrugge route network
17:04 Finnpilot Pilotage BoD decided for no increase in the pilotage fees for 2019
16:42 GTT bags yet another tank design order for LNGC duo
16:38 PRA starts construction of new plastics recycling facility at the Port of Amsterdam
16:25 Arctia and Meritaito join forces to expand their range of services
16:09 Crowley integrates DFTS management into government solutions group to unify supply chain services
15:42 KN enhances its relations with American LNG giants
15:18 BW Group Limited purchased 137,000 shares
14:53 Icebreakers of FSUE Rosmorport assisted 680 ships in navigation season 2018-2019
14:28 Shell Oman and Port of Duqm ink agreement to develop fuel bunkering facilities
14:11 Golar LNG receives LNTP for an FLNG vessel for Greater Tortue / Ahmeyim Project P1, West Africa
13:47 WEG and Praxis sign MoU to support Damen Saab bid for the Brazilian Navy
13:41 Eni gets approval of the investment plan for Merakes Development Project in Indonesia
13:22 Sovcomflot closes USD 264 million long-term revolving credit facility
12:58 Bunker prices are flat at the Far East ports of Russia (graph)
12:40 Antwerp, Belgium will host the 3rd European Environmental Ports Conference on 12-13 June 2019
12:19 Keppel receives limited notice to proceed for GIMI FLNG
11:57 3 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on December 17-18
11:35 Terna’s MONITA HVDC Project: Nexans reaches key milestone with successful completion of submarine power cable
11:10 Container throughput of port Hong Kong (China) down 5.4% to 17.96 million TEUs in Jan-Nov’18
10:46 Bunker sales at the port of Singapore in 11M’18 down 1.8% Y-o-Y to 45.49 million tonnes
10:23 Maersk announces rate increase for Far East to North Europe trade
10:05 Brent Crude futures price down 1.53% to $58.72, Light Sweet Crude – down 1.61% to $49.39
09:47 Austal export opportunity supported by Australian Government financing
09:31 Rosatom drafted Rules for providing navigational and hydrographic support in NSR waters
09:14 Baltic Dry Index is up to 1,406 points

2018 December 17

18:23 Sembcorp Marine retains its position as Asia’s top cruise ship repair and upgrade solutions provider with newbuilds projects delivered in 2018
18:02 USPA announced tenders for dredging in Mariupol and Berdiansk seaports
17:48 SITC holds naming and delivery ceremony for M/V SITC SENDAI
17:37 ONE to implement LSF surcharge in China and Taiwan
17:15 NCSP Group's consolidated cargo turnover for January-October totaled 116,946 thousand tons
16:41 Moody's reaffirms Panama Canal's A2 long-term rating with stable outlook
16:26 Port of Oakland shatters 11-year-old record for November imports
15:54 Yamal LNG will build one more natural gas liquefaction facility
15:27 Nor-Shipping and Nordic Innovation team up for “Sea Meets Land” funding initiative
15:17 PETRONAS releases Annual Activity Outlook report for 2019-2021
14:56 NOVATEK elects a new member to the Management Board
14:37 Average wholesale prices for М-100 HFO down to RUB 15,328 in RF spot market
14:13 Damen’s triple delivery for Murjan Al Sharq Marine Contracting
13:41 Pacific Fleet and Indian Navy warships practice inspection operation as part of Indra Navy 2018 Russian-Indian naval exercise
13:19 Queen Máxima christens Van Oord's TSHD Vox Amalia
12:58 9 icebreaker escort operations performed in eastern part of Gulf of Finland during 24 hours on December 16-17
12:36 Samsung Heavy Industries secures yet another contract for an LNGC
12:23 Saab secures shipping safety contract for Shangai container port
12:00 Composit supports the 6th Forum of Dredging Companies as its Sponsor
11:42 Milaha unveils large plans to upgrade its shipyard in Mesaieed
11:01 IBIA welcomes decision by IMO’s MSC to add new item to its agenda to address concerns about fuel safety
10:43 SENER to design passenger vessel for Tanzanian ferry operator
10:17 Brent Crude futures price down 0.02% to $60.27, Light Sweet Crude – up 0.21% to $51.58
09:58 Port of Singapore throughput in 11M’18 grew by 0.4% Y-o-Y to 575.44 million tonnes
09:40 Floating regasification plant “Marshal Vasilevsky” arrives in Kaliningrad
09:15 Baltic Dry Index is up to 1,401 points

2018 December 16

16:09 Navios Acquisition completes acquisition of Navios Midstream
15:23 Thun Tankers names environmentally adapted tanker Thun Evolve
13:21 Traxens trials IoT network in port environment for first time, at MSC Terminal Valencia
12:32 Executives must watch both sea and air amid trade war tensions, warns Xeneta