Equinor exits all Joint Ventures in Russia
(UTC)
On 27 February 2022, Equinor decided to start the process of exiting the company’s Joint Ventures in Russia.
Since then, Equinor has halted all new investments into Russia, stopped trading oil and gas products from Russia and announced an impairment of USD 1.08 billion on the balance sheet as of 31 March 2022.
Equinor has now transferred its participating interests in four Russian joint ventures to Rosneft and is released from all future commitments and obligations. An agreement to exit the Kharyaga project has also been signed.
The exit from all Joint Ventures has been completed in accordance with Norwegian and EU sanctions legislation related to Russia.
Latest news
Equinor declares commerciality in the BM-C-33 area, in Campos Basin, Brazil
Equinor has, on behalf of the BM-C-33 consortium, submitted to Agência Nacional de Petróleo, Gás Natural e Biocombustíveis (ANP), the Declarations of Commerciality and Plans of Development for two development areas in the BM-C-33 concession in Brazil’s Campos Basin.
Johan Castberg project update
The Johan Castberg partnership, consisting of Equinor, Vår Energi and Petoro, is today updating the project cost estimate. The investment estimate has increased by almost NOK 13 billion since last year.
More gas from Gina Krog with Eirin
On behalf of the partnership, Equinor has submitted a plan for development and operation (PDO) of the Eirin gas field to the Ministry of Petroleum and Energy.