Equinor Announces Fourth Discovery in Norwegian North Sea, Enhancing Gas Production
Posted 10/11/2023 13:59
Equinor ASA has reported its fourth discovery on the Norwegian side of the North Sea in 2023, marking a gas find on the Gina Krog oil and gas field. The discovered gas well, with recoverable resources of up to 16 million barrels of oil equivalent (MMboe), is set to commence production as early as 2023. The gas will be exported to the European market, contributing to the Gina Krog field's extended lifetime and increased profitability.
The Gina Krog production platform, operational since June 30, 2017, will facilitate the onstream production of the new discovery. Equinor anticipates that this finding will not only strengthen the profitability of Gina Krog but also play a crucial role in the broader Sleipner area, located about 19 miles northwest of the Gina Krog field.
Camilla Salthe, Senior Vice President for Field Life Extension at Equinor, emphasized the significance of the discovery in supporting the Gina Krog project's electrification efforts. The electrification of oil and gas production projects helps reduce greenhouse gas emissions by avoiding the use of fossil fuels in operations.
The recent discovery, drilled by the Noble Lloyd Noble rig, is the first on the Gina Krog field since 2011 and represents Equinor's fourth discovery in the Norwegian North Sea and fifth overall in Norway in 2023.
Earlier in August, Equinor announced commercially viable results from a well in the North Sea's Troll/Farm area, marking the ninth discovery in 12 attempts in the region since 2019. The recoverable resources from this discovery primarily consist of petroleum and gas.
Despite the challenges faced by the wind industry and increased costs, Equinor remains optimistic about making discoveries with economic viability. The company's exploration efforts are aligned with its commitment to finding more gas on the Norwegian continental shelf, emphasizing the importance of discoveries near existing infrastructure for commercial development with low carbon emissions.
Equinor, with its headquarters in Stavanger, operates the Gina Krog project with a 58.7 percent stake. The company continues to focus on developments like the Eirin field, aiming to connect it to the Gina Krog platform, extend the platform's life, and contribute to gas supply for Europe. The Gina Krog platform has played a crucial role in providing gas to Europe, especially during the 2021 energy crisis.
Norway, as a major pipeline gas exporter, has maintained its position in the European Union, contributing significantly to the region's gas supply. The country's collaborative efforts with authorities and ongoing exploration activities align with its role as a key gas supplier for Europe.