Norway's Sverdrup oilfield partially resumes output
Oilfield outage caused by power failure
Expects to resume two-thirds of capacity Tuesday morning
No suspicion of a deliberate act, Equinor says
Adds comment on the power outage in paragraphs 5-6
OSLO, Nov 19 (Reuters) -Equinor EQNR.OL has resumed partial production from its Johan Sverdrup oilfield in the North Sea following a power outage, a company spokesperson said on Tuesday.
Equinor on Monday halted output from Sverdrup, western Europe's largest oilfield, due to an onshore power outage that disrupted electricity supply to the platforms, boosting global oil prices.
The field was expected to reach two-thirds of its capacity on Tuesday morning, and Equinor was working to resume full output, the spokesperson said.
The power outage was caused by overheating in an electrical converter station at Kaarstoe, the spokesperson added.
Equinor said it did not think that the incident was caused deliberately, the spokesperson said in response to a question from Reuters.
Repair work on the converter station is ongoing, he added.
Equinor last month said the Sverdrup field was producing at a peak capacity level of around 755,000 barrels of oil equivalent per day (boed), although this is expected to begin a gradual decline from early next year.
Equinor is the operator and owns 42.63% of the Sverdrup licence while Aker BP AKRBP.OL holds 31.57%, Norwegian state-owned oil firm Petoro 17.36%, and TotalEnergies TTEF.PA holds the remaining 8.44%.
Reporting by Nora Buli, editing by Terje Solsvik and Louise Heavens
Related Assets
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
