Norway Oil Coffers About to Get Giant Boost From the North Sea - Bloomberg:
Equinor ASA has started its Johan Sverdrup oil field, a rare mega-project in the North Sea that’s been a boon for Norway’s offshore industry and now promises to deliver a huge production boost for the country.
Discovered in 2010 in an area that had been disregarded by most explorers, the site started production on Saturday and is set to reach 440,000 barrels a day by next summer. That represents a 33% addition to Norway’s production in the first half of this year, a spike in output not seen since the 1980s.
It’s hard to overstate the importance of Sverdrup for its owners, the Norwegian state and the country’s entire oil industry.
No comments:
Post a Comment