SSE and Equinor developing plans for hydrogen storage in West Yorkshire

 SSE Thermal and Equinor are developing plans for one of the world’s largest hydrogen storage facilities at their existing Aldbrough site on the East Yorkshire coast. The facility could be storing low-carbon hydrogen as early as 2028.The existing Aldbrough Gas Storage facility, which was commissioned in 2011, is co-owned by SSE Thermal and Equinor, and consists of nine underground salt caverns, each roughly the size of St. Paul’s Cathedral. Upgrading the site to store hydrogen would involve converting the existing caverns or creating new purpose-built...

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European gas prices hit decade highs

 NBP is at 75p/therm (~33% increase YTD)TTF is at €30.4/MWh (~65% increase YTD)Despite the sharp rise in European gas prices and arbitrage opportunity for US LNG into Europe, LNG cargoes are being pulled to Asia where prices remain elevated and fetching premiu...

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Norway's offshore electrification grid

The Utsira High network powers a number of key fields on the Norwegian Continental Shelf including:Johan Sverdrup (Equinor)Edvard Grieg (Lundin)Ivar Aasen (Akerbp)Gina Krog (Equinor)Gudrun (Equinor)Sleipner (Equin...

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BP close to selling Shearwater

NEWS: BP is rumoured to be close to finalising a sale of its 28% stake in the Shearwater field to Tailwind Energy, a North Sea explorer headed by ex-CNOOC veteran Steve Edwards and financing to be obtained from shareholder Mercuria.BP has previously agreed to sell the asset to Premier Oil in 2020 but that deal fell through as a result of the collapse on oil prices and COVID-19. Premier Oil had also agreed to buy BP's Andrew asset at the time.BP is also divesting the Andrew asset and it is understood that is being sold to another par...

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HyWind Scotland takes the crown for highest UK wind farm load factor

 For its third consecutive year, Hywind Scotland – the world’s first floating offshore wind farm – reaches the highest average capacity factor for any wind farm in the UK.With an average capacity factor of 57.1% in the twelve month period to March 2020, the floating offshore wind farm set a new record in the UK.During its first two years of operation, the wind farm achieved an average capacity factor of 54%. That compares to an offshore wind...

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Tullow: Dry well offshore Suriname

 Tullow had announced that the Goliathberg-Voltzberg North exploration well, on Block 47 (TLW 50%), offshore Suriname was drilled to a ~5,000m TD and encountered good quality reservoir but only minor oil shows.The well will now be plugged and abandoned. Tullow operated the well and was partnered with Petroandina Resources and Ratio Suriname Limited.This does not have a direct read across to Tullow's Guyana acreage but is clearly not helpful...

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Equinor: all three UK low-carbon projects receive government funding to mature concepts

All three of Equinor’s projects to deliver deep cuts in emissions from industries and support clean growth on the UK’s east coast have received public funding from UK authorities. With a combination of private and public funding, Equinor and its partners will now progress these projects in order to create the world’s first net zero industrial cluster by 2040.On 17 March 2021 the UK Government announced the funding awards under the UK’s Industrial...

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Hibiscus acquires 85% interest in Eagle to consolidate around Anasuria

Hibiscus has announced that its indirect wholly-owned subsidiary, Anasuria Hibiscus UK ('AHUK') has executed a Sale & Purchase Agreement ('SPA') with EnQuest in respect of certain interests in the UK Continental Shelf Petroleum Production Licence Number P238 Block 21/19a, Eagle Pre-Producing Area ('Eagle Field'). The Eagle Field is located approx. 6.4 km to 15 km from various Anasuria facilities, and due to its proximity, facilitates a potential...

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Long awaited deal finally announced: NEO acquires ExxonMobil UK

NEO Energy and HitecVision have announced the signing of a transaction that puts NEO Energy among the top five oil and gas companies in the UK.NEO Energy is acquiring a major portfolio of non-operated oil and gas assets in the Central and Northern North Sea from ExxonMobil. Following completion, NEO’s expected proforma 2021 production will be circa 70,000 barrels of oil equivalent per day (boepd), growing organically to more than 80,000 boepd in...

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OGA launches full investigation into possible licence breach

The Oil and Gas Authority (OGA) has opened an investigation into a possible breach of reporting requirements under a licence. The investigation follows an Enquiry which concluded that there was sufficient evidence of a breach to go ahead.The investigation will now among other things: gather and assess further information to enable the OGA to reach a decisionoffer the company concerned the opportunity to provide written representationsdecide how the case should be resolvedThe investigation follows the publication in October 2020 of the...

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Partial electrification of Sleipner approved

The Ministry of Petroleum and Energy has approved a revised plan for development and operation (PDO) for partial electrification of the Sleipner field centre. The field centre will be tied to the Utsira High area solution, and Sleipner is expected to cut emissions by more than 150,000 tonnes of CO₂ per year.“Partial electrification of the Sleipner field centre will contribute to major cuts in emissions from our activities and provide significant...

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Equinor selected for largest-ever US offshore wind award

Equinor has been selected to provide New York State with offshore wind power in one of the largest renewable energy procurements in the U.S. to date.Under the award, Equinor and incoming strategic partner BP will provide generation capacity of 1,260 megawatts (MW) renewable offshore wind power from Empire Wind 2, and another 1,230 MW of power from Beacon Wind 1 – adding to the existing commitment to provide New York with 816 MW of renewable power...

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