Equinor invests $ 1.1 billion to increase gas production from North Sea field


By Dominic Chopping

Equinor ASA said on Friday that with its partners it was investing 10 billion Norwegian kroner ($ 1.1 billion) to further develop the Oseberg field in the North Sea, which was primarily an oil field to become a producer of gas.

A modified development and operation plan has been submitted to the Minister of Petroleum and Energy which will see the partners reduce carbon dioxide emissions from the Oseberg field center and the Oseberg South platform while by increasing Oseberg gas production, he said.

“This investment decision allows us to significantly increase Oseberg gas production in the future, while reducing CO2 emissions by around 320,000 [metric] ton per year, ”said Geir Tungesvik, Equinor’s senior vice president for project development.

Oil production on the field is terminal, but 60% of gas resources are still in the ground and Equinor expects Oseberg to produce more than 100 billion standard cubic meters of gas by 2040.

Equinor owns 49.3% of the field as operator, Petoro AS 33.6%, TotalEnergies EP Norge AS 14.7% and ConocoPhillips Skandinavia AS 2.4%.

Write to Dominic Chopping at [email protected]

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