One of the benefits of being a relatively new energy company, is that we don’t need to carry around lots of old projects that don’t necessarily fit in today’s or tomorrow’s portfolio. We are quite picky when it comes to getting involved in licences or renewable projects, and that is something our investors truly appreciate. We can choose projects that are sustainable and beneficial at the same time – for us, and for the rest of the world.
Our strategy is to limit the oil and gas business to the Norwegian Continental Shelf. We have extensive NCS know-how, our employees have long exploration experience, and we already have access to a good working infrastructure, as well as a valuable human network.
When it comes to renewables though, we look broader. We have invested in one wind farm in Finland, and we see that wind power gives us a quite predictable cash flow. We are currently working on our new renewables strategy, and we’re looking forward to sharing our plans with you.
The Dvalin field is located 15 km northwest of the Heidrun field. It consists of two separate structures. Dvalin East segment was proven in 2010, and Dvalin West segment was proven in 2012. The final investment decision was made in 2016 and the PDO was approved in June 2017.
The Duva oil and gas field is located 14 km northeast of the Gjøa field. To maximise synergies, the Duva development project is being coordinated with the redevelopment of Gjøa P1.
The Nova Development is located in the northern part of the North Sea, 17 km southwest of the Gjøa field. It was discovered in 2012 and appraised by three additional wells.
We explore, we produce, and we transport. Sval holds a 15.6% interest in Gassled and 13.3% in the Polarled pipeline. Gassled is the world’s largest offshore gas pipeline network, linking gas producing fields in the North Sea and the Norwegian Sea to the UK and continental Europe.
With a capacity of 132 MW Metsälamminkangas is the third largest wind farm in Finland and will via Fingrid, Finland’s national power grid, provide green energy to the integrated Nordic power market, including the ongoing electrification of the Norwegian oil and gas industry.