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Equinor: launches share buyback as Johan Sverdrup progresses

( - Equinor is launching a share buy-back programme of up to 5 billion dollars until the end of 2022 as the Norwegian oil group is accelerating the start-up schedule of its Johan Sverdrup giant project.

Equinor and its partners are preparing for production start from the world class field - one of the five largest oil fields on the Norwegian continental shelf - already in October this year, one month ahead of schedule.

Equinor and its partners - Lundin, Petoro, Aker BP and Total - are now progressing through the final stages of preparation for operations.

The share buy-back program will be structured into tranches. The first tranche, running from 5 September 2019 up to 25 February 2020, will reach around 1.5 billion dollars.

The Equinor share is currently up 6.8% in Oslo.

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