Norway Approves Development of Equinor's Kristin South Project
2/2/2022
OSLO (Reuters) — Norway has approved plans to develop several Equinor-operated gas and condensate discoveries in the Norwegian Sea, the ministry for petroleum and energy said on Wednesday.
Equinor and its partners plan to invest 6.5 billion Norwegian crowns ($742 million) to develop several discoveries in the Kristin field and nearby, estimated to hold 58 MMboe.
The project, known as Kristin South Phase 1, is expected to start production in 2024, with gas to be exported to Europe via an existing offshore pipeline system, while the oil will be shipped, the ministry said.
Equinor and its project partners – Petoro, Eni's Norwegian subsidiary Vaar Energi and TotalEnergies – submitted the plan in June.
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Pipeline Project Spotlight
Owner:
Gaz-System, Energinet
Project:
Baltic Pipe
Type:
Baltic Pipe will transport Norwegian natural gas from the Norwegian North Sea via Denmark to Poland.
Length:
560 miles (900 km)
Capacity:
110 Bcf per annum
Start:
Q2 2020
Completion:
Q4 2022
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