Norway approves PDO for Equinor’s Troll phase 3 project

10/12/2018 09:19 Oil Market

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The Norwegian Ministry of Petroleum and Energy has approved Equinor and its partners’ plan for development and operation (PDO) of the NOK7.8bn ($920m) Troll Phase 3 development in the North Sea.

According to Equinor, the Troll Phase 3 development is expected to extend the production of the Troll field to 2050 and beyond.

 

The PDO for the Troll Phase 3 development, which was submitted in July, calls for the development of the large gas reserves contained in the western part of the offshore Norwegian field.

 

Equinor project management senior vice president Torger Rød said: “With a break-even of less than USD 10 per barrel, Troll Phase 3 is one of the most profitable and resilient projects ever in our company.

 

“Thanks to the PDO approval Equinor and its partners can now deliver another 2.2 billion barrels of oil equivalent from the field with a CO2 intensity of 0.1 kilo per barrel.”

 

In May, the Troll field partners awarded a NOK1bn ($117.8m) contract to Aker Solutions for the delivery of a new processing module for the Troll Phase 3 development. Aker Solutions was also given a contract to provide subsea facilities for the project.

Source: compelo.com

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