Statoil Estimates Reduced Capex for Johan Sverdrup Development

Source: www.gulfoilandgas.com 9/25/2015, Location: Europe

Statoil, the operator for the Johan Sverdrup development, has presented a preliminary capex estimate for the first phase of the development to the partnership. The updated estimate is showing reduced capital expenditures as a result of positive market response in contracts and purchase orders.

In the Plan for Development and Operations (“PDO”), which was submitted to the Ministry of Petroleum and Energy (“MPE”) on 13 February 2015 and approved by the MPE on 20 August 2015, capex for the first phase development was estimated at NOK 117 billion in real terms (NOK 2015) and NOK 123 billion in nominal terms.

Overall capex for the first phase has in the updated capex estimate been reduced by NOK 9 billion from NOK 123 billion to NOK 114 billion in nominal terms, assuming the same currency assumptions as in the PDO. The contingency level (in NOK) is maintained in the updated estimate and reflects risks in scope, schedule and project execution.


Cameroon >>  6/30/2022 - Victoria Oil & Gas Plc provides the following update in relation to its Annual Report and Accounts and trading position.

Annual Report and...

Canada >>  6/30/2022 - International Petroleum Corporation ("IPC" or the "Corporation") announces that the Swedish Financial Supervisory Authority approved the prospectus in...

Canada >>  6/30/2022 - Trillion Energy International Inc. is pleased to announce the closing of its previously announced increased best efforts marketed public offering (the...
Netherlands/Holland >>  6/30/2022 - With the help of a syndicate of 12 international relationship banks, Vopak was able to successfully extend its EUR 1 billion senior unsecured revolvin...

Norway >>  6/30/2022 - In line with the objective for the share buy-back programme which was executed by Equinor ASA in three tranches in the period 28 July 2021 until 25 Ma...
United Kingdom >>  6/30/2022 - Orcadian Energy Plc is pleased to announce that, further to its announcement of 7 a.m. (London time) today, it has successfully completed and closed t...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2021 Universal Solutions All rights reserved. - Terms of Service - Privacy Policy.