Equinor Submits Plan for Further Development of Troll Field
Equinor has submit the plan for development of the next phase of the gigantic Troll field on the Norwegian continental shelf (NCS) to the Ministry of Petroleum and Energy.
“The third phase of the Troll development realizes 2.2 billion barrels of oil equivalent, it has a break-even of less than USD 10 per barrel and a carbon intensity of 0.1 kg per barrel. This is probably one of the most profitable and robust projects in the company’s history,” said Margareth Øvrum, executive vice president for Technology, Projects and Drilling of Equinor.
The capital expenditures for the project are estimated at NOK 7.8 billion, helping extend the productive life of the Troll field beyond 2050.
“The Troll operations have generated great value for the whole society. Since it came on stream in 1995 the Troll field has generated an estimated NOK 1400 billion in revenues, equivalent to NOK 175 million per day in average. In the future we estimate that Troll will create even greater value,” added Gunnar Nakken, Equinor’s senior vice president for Operations West.
The expected future value creation from Troll is estimated at NOK 1,650 billion, Equinor noted.
“The further development of Troll will also strengthen Norway’s ability to supply Europe with gas. The gas from Troll will ensure reliable, profitable and carbon-efficient gas supply equivalent to the consumption of 50 million households in Europe for 30 years in the future,” Nakken said.
The annual export volume from Troll is estimated to 8 % of EU’s gas consumption.
The gas, produced on the Troll A platform, is piped to Kollsnes, where it is cleaned, dried and compressed before being transported to Europe in the Zeepipe pipelines.
In addition Equinor will today sign contracts within marine installations and subsea facilities worth a total of approximately NOK 750 million with the companies Allseas, Nexans and DeepOcean.
Earlier this year the company awarded contracts for subsea facilities and the construction of a new processing module on the Troll A platform to Aker Solutions.