The low oil price has cut a significant slice from the value of the Johan Sverdrup field, which is estimated to be worth USD 11 billion. Yet the agreement on Friday between the partners in the field, including Statoil and Maersk Oil, is absolutely crucial.
BY TOMAS KRISTIANSEN
The Johan Sverdrup oil field, estimated to be the biggest field on the Norwegian Continental Shelf in 40 years, is crucial to all five partners, according to British analyst agency WoodMackenzie, which mainly performs commodity analyses.
Belgian shipping family Saverys acquires additional shares in Euronav and now only needs a small increase of its equity position to block a full merger between the tanker operator and rivaling company Frontline.