EnergyWatch

Equinor hit by major bills and delays on prestige projects

The price tags on Martin Linge and Njord Future will become larger than expected for the oil outfit, shows Norway's new state budget.

Photo: Equinor

The Covid-19 pandemic along with an unanticipated volume of work have raised costs for oil fields Martin Linge, Njord Future and Johan Castberg, all of which are operated by Equinor, the oil giant informs Wednesday in connection with the release of Norway's latest state budget.

"I will emphasize that 2020 has been a very challenging year also for our industry. Together with our suppliers we have worked hard to mitigate the consequences of Covid-19. Safety and infection control measures are our number one priority, and I am impressed by the work that has been done," writes Geir Tungesvik, Equinor's acting executive vice president for Technology, Projects & Drilling, in a press statement.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Ørsted aims to be number one on carbon capture

The utility hopes to win the Danish carbon capture and storage tender with a plan to capture 400,000 tonnes of CO2 by 2025 from the company’s biomass-fired combined heat and power stations.

Nordex downgrades forecast

The German turbine manufacturer has had a rougher start to 2022 so far than expected, prompting the company to downgrade guidance by EUR 200m at minimum.

Further reading

Related articles

Latest News

See all jobs