[ad_1]
The oil giant is growing onshore in Russia through a collaboration with the state-dominated Rosneft.
TINER: Snow and cold freeze the pieces in the Kharyaga field in Russia, where Equinor is already a partner. Equinor is now increasing its presence in the country by one billion purchases.
Equinor.
Equinor has entered into an agreement with Rosneft, in which the Russian state is the largest owner, increasing the company’s presence on land in Russia.
Through this agreement, Equinor has acquired a 49 percent stake in LLC Krasgeonac joint-stock company, which holds 12 conventional (ie, non-shale) exploration and production licenses on eastern Siberian lands.
Equinor is raising about $ 550 million for the shares. This corresponds to almost NOK 4.9 billion at the current exchange rate. The cash portion of the payment is $ 325 million.
28 years in Russia
“As part of this agreement, Equinor has reallocated its remaining exploration obligations in the Okhotsk Sea and therefore has no outstanding obligations in that area,” the company writes.
One of the 12 licenses Equinor now obtains, the North Danilovsky development, began production in July this year. Production is expected to reach 40,000 barrels of oil per day by 2024, and the plan is then to increase to 70,000 barrels of oil per day.
Equinor has been present in Russia for 28 years, where it has 70 employees and an office in Moscow. In 2012, the company, then called Statoil, partnered with Rosneft, which is the base of its operations in Russia.
Here you can see where Equinor’s activities are located in Russia, including through the new agreement to acquire LLC Krasgeonac (KGN).
Equinor.
also read
PST: Espionage against the Norwegian oil sector
