Page 13 - EurOil Week 26 2021

EurOil PROJECTS & COMPANIES EurOil

Equinor FIDs two fields, gets

approval to develop third

NORWAY NORWEGIAN oil company Equinor has taken The fields could be developed in additional
a final investment decision (FID) on developing phases in the future, and the nearby Erlend and
The projects will all be two gas discoveries, while getting approval from Ragnfrid discoveries might also play a role.
tied back to existing the authorities for a third, larger oil project. Equinor noted that Kristin South’s CO2 inten-
platforms. The company and its partners Petoro, sity was less than 1 kg CO2 per boe, and those
TotalEnergies and Var Energi have signed off emissions will mainly be released during drilling
on exploiting the Lavrans and Kristin Q dis- activities.
coveries, collectively known as Kristin South.
Capital expenditure for the project’s first phase Breidablikk approval
is estimated at NOK6.5bn ($760mn). The two Equinor also announced on June 29 that its plan
discoveries will flow gas via a shared pipeline for development and operation of the Breidab-
to the Kristin platform, helping to extend its likk field in the North Sea had been approved by
lifetime until at least 2034, and possibly up to Norwegian authorities.
2042. The project is valued at NOK18.6bn in
Production from the first three wells is slated investment and is on track to start produc-
to start in 2024, and two more will be added the tion in the first half of 2024. Equinor and
following year. The first phase aims to recover its partners Petoro, Var Energi and Cono-
6.2bn cubic metres of gas in total, or 58.2mn coPhillips filed the plan in September 2020
barrels of oil equivalent (boe). and expect to recover around 200mn barrels
“The decision to develop the Kristin South of oil from the site. The company described
area will generate substantial value for society Breidablikk as one of the largest undevel-
and the owners,” Equinor said, noting it had oped oil discoveries on the Norwegian Con-
already dished out contracts worth NOK2.2bn tinental Shelf (NCS).
for the project. “Extending the productive life The field will host 23 producing wells at four
by using the infrastructure we have on the NCS subsea templates tied back to the Grane plat-
for satellite developments is very important form, where the oil will be processed before
and ensures good profitability and low CO2 being pumped to the Sture terminal. Like most
emissions.” of Equinor’s new projects, Breidablikk will be
Lavrans was found in 1995 and while it is electrified, reducing its Scope 2 emissions.
large, it is also geologically complex and will Contracts for the field have already been
therefore require horizontal drilling. Kristin Q awarded to Aker Solutions, Wood, Technip-
represents the southern section of the Kristin FMC, Odfjell Drilling, Schlumberger, Alcatel
field and has a high-pressure, high-temperature Submarine Networks, Floatel International, H
reservoir. Butting and Mitsui. ™

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