Equinor Plans Development of 1978 Offshore Gas Discovery to Boost European Supplies
Posted 15/09/2023 13:19
Norwegian oil and gas company Equinor has submitted a plan for the development and operation (PDO) of the Eirin offshore gas field to Norway's Ministry of Petroleum and Energy.
The Eirin field, discovered in 1978, holds an estimated 27.6 million barrels of recoverable oil equivalent, primarily gas. Equinor plans to develop it as a subsea facility tied to the Gina Krog platform in the North Sea, with total investments expected to exceed NOK 4 billion (approximately $373 million).
Utilizing the Gina Krog platform's infrastructure will enable the rapid and profitable delivery of new gas to Europe with low CO2 emissions from production. This development will extend the productive life of the Gina Krog platform from 2029 to 2036 and play a crucial role in the Sleipner area's operations, according to Camilla Salthe, Equinor’s senior vice president for field life extension (FLX).
During the 2021 energy crisis, Equinor collaborated closely with Norwegian authorities to increase gas exports to Europe. This included exporting previously injected gas to enhance oil recovery. This effort highlighted the need to accelerate projects aimed at extending the field life, with Eirin being a central part of this strategy. Production is anticipated to commence as early as 2025.
The project's swift development also creates opportunities for further discoveries and new reserves in the area, as the new subsea facility will enable the integration of new fields, explained Ketil Rongved, Equinor’s vice president for FLX Projects.
By electrifying the Gina Krog platform and partially electrifying Sleipner, Eirin's production will have low emissions, with an estimated three kilograms of CO2 per barrel of oil equivalents.
Equinor holds a majority interest in the Eirin field (78.2%), with KUFPEC Norway owning the remaining 21.8%.