Troll, A Platform in the North Sea. Source: Wikimedia Commons, Swinsto101, CC BY-SA 3.0
Norway is ranked seventh among the greenest countries in the world, but this does not stop it from increasing oil and gas production at new fields, thereby exporting CO2 emissions to oil-importing countries.
Equinor has decided to invest NOK 21 billion (USD 2,078 billion) in new oil project in the North Sea and approved the largest project on the Norwegian continental shelf since 2022.
The project ensures activity for the Norwegian supplier industry, with an estimated employment effect of 4,500 man-years during the development period, says Geir Tungesvik, Executive Vice President for Projects, Drilling and Procurement at Equinor, in a press release.
Equinor yesterday submitted a plan for development and operation for the oil and gas discoveries that make up the Fram South project to Energy Minister Terje Aasland.
It is gratifying that the licensees have decided to further develop the Fram area. This is a good example of how important existing infrastructure is.
This is stated by Energy Minister Terje Aasland (Ap) in a press release.
On Thursday, the plan for development and operation was handed over to Energy Minister Terje Aasland (Ap).
By linking the discoveries to the Troll C platform, the companies have found a good and profitable development solution, which will contribute great value to the community, says Aasland.
Combined Under One Development Plan
The project is part of the Fram field, which is a subsea development that is connected to the Troll field. Fram South is planned to be developed together under one development plan.
Total investments for the overall development are estimated at approximately NOK 21 billion. Which is also the largest in scope since 2022.
Background
The Fram field was discovered in 1990 and came on stream in 2003, and is located approximately 20 km north of Troll. The PDO for Fram West was approved by the Ministry in 2001 and the PDO for Fram East was approved in 2005. Fram South consists of several oil and gas discoveries that were discovered in the period 2014–2021.
The development solution is four new subsea templates that are tied back to the Troll C platform for processing and export. The licensees estimate that approximately 51 percent of the investments in the project will go to Norwegian suppliers. Total employment impacts are estimated at around 4,500 man-years throughout the development period.
The investments in Fram South will contribute to activity for the Norwegian supplier industry in both the development and operational phases.
Most suppliers have Norwegian billing addresses, but some of the work is taking place abroad.
The Fram South project is a combined development of several discoveries that will export oil and gas via Troll C. Recoverable volumes are estimated at 116 million barrels of oil equivalents, of which around 75 percent is oil and 25 percent is gas.
Planned production start is at the end of 2029.
Source: NRK (in Norwegian)
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