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Equinor Advances Johan Sverdrup Phase 4 After New Oil Finds

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Equinor ASA (EQNR) said Monday it is advancing a fourth phase of development at the Johan Sverdrup field in the North Sea after new appraisal wells confirmed additional recoverable oil volumes in the area.

The discoveries at Tonjer and Geitungen are estimated at 20-30 million barrels of oil equivalent and will be developed through a subsea tieback to existing infrastructure at Norway's largest oil-producing field, it said.

The company said the project will help sustain long-term production while keeping costs and emissions low by leveraging existing facilities. First output from the new phase is expected around 2029, subject to a final investment decision, it added.

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US, Iran Agree to Sign Deal to End War, Reopen Hormuz Strait on Friday

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Equities

Update: Market Chatter: Shell Reportedly Preparing to Launch $1 Billion Offshore Wind Farms Sale

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Equities

S&P 500 Posts Weekly Gain Amid Heightened Iran Deal Expectations, Dovish Inflation Prints

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