Equinor Announces Small Yet Economically Viable Gas Discovery in the North Sea, Offshore Norway
Posted 06/11/2023 12:35
Equinor, a prominent Norwegian oil and gas company, has uncovered a gas reserve within the license area encompassing the Gina Krog field in the North Sea, offshore Norway. While the discovery is relatively modest, Equinor has affirmed that gas production can commence as early as 2023.
The estimated recoverable volumes from the gas discovery range between 5 and 16 million barrels of oil equivalent. Notably, the strategic use of existing infrastructure on the Gina Krog platform renders the discovery commercially feasible. The drilling operation was executed using the Noble Lloyd Noble rig, with Equinor operating the well alongside partners KUFPEC and PGNiG.
Preparations have already been initiated at the Gina Krog site, ensuring a swift start to production from the well during the fourth quarter of 2023. Equinor emphasized that this discovery will contribute to extending the field's lifespan and bolstering its profitability, thereby benefiting the broader Sleipner area. The gas extracted will be swiftly transported to Europe, providing commendable profitability and minimal CO2 emissions during production.
Camilla Salthe, Equinor's Senior Vice President for field life extension, highlighted the significance of exploring mature areas on the Norwegian continental shelf, especially in the context of optimizing existing infrastructure. The collaboration between the Gina Krog partnership and Norwegian authorities during the 2021 energy crisis resulted in the successful maximization of gas export to Europe, underscoring the operational flexibility of the field.
With Equinor acting as the operator (58.7%), and KUFPEC Norway AS (30%) and PGNiG Upstream Norway AS (11.3%) serving as partners, this marks the first commercially significant discovery in the Gina Krog license area since 2011. The successful exploration aligns with Equinor's ongoing efforts to maximize the potential of mature fields and drive sustainable energy production in the region.