Equinor ASA has put the Halten East area within the Norwegian Sea onstream, unlocking new pure gasoline for Europe.
“We’re beginning up Halten East at a time the place piped gasoline from Norway is in excessive demand and necessary for vitality safety”, Geir Tungesvik, govt vice chairman for initiatives, drilling and procurement at Equinor, mentioned in an organization assertion Monday.
“In a difficult price and inflation atmosphere, the mission has been delivered each on time and inside our price estimate”.
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Halten East, a tie-in to be developed in two phases, holds about 100 million barrels of oil equal recoverable reserves, based on the Norwegian majority state-owned vitality firm.
The event, which has an estimated funding of NOK 9 billion ($857.81 million), targets six discoveries and doubtlessly three extra prospects. It makes use of current infrastructure deployed for Åsgard, one other Equinor-operated area that began up 1999.
Section 1 of Halten East consists of six wells in 5 discoveries. Thus far the primary nicely, Gamma, has begun manufacturing. “The second part is deliberate in 2029”, Equinor mentioned. Section 2 plans so as to add a sidetrack and doubtlessly three extra wells.
The gasoline will probably be despatched to the Kårstø terminal, from which it will likely be shipped through pipeline to European patrons.
Within the third quarter of 2024 Norway continued to be the European Union’s high pipeline gasoline provider with a share of 47 p.c, based on the European Fee’s newest quarterly gasoline market report, revealed December 20, 2024. Norway has been the EU’s #1 gasoline supply because the latter half of 2022, months after Russia invaded Ukraine, based on Fee information.
“Halten East demonstrates the significance of space options and cooperation between license house owners and authorities to comprehend the complete useful resource potential on the Norwegian continental shelf”, commented Kjetil Hove, Equinor govt vice chairman for improvement and manufacturing on Norwegian waters.
Equinor operates Halten East with a 69.5 p.c stake, having acquired Sval Energi AS’ 11.8 p.c curiosity November 2024. The companions are native gamers Vår Energi ASA with a 24.6 p.c stake and Petoro AS, owned by the Norwegian state, with 5.9 p.c.
Equinor additionally holds an working stake of 35.01 p.c in Åsgard. Petoro owns 34.53 p.c, Var Energi 22.65 p.c and TotalEnergies SE 7.81 p.c.
“Collectively, we are able to develop industrial options that can proceed to ship vitality with low prices and low emissions”, Hove added. “Now we have a big portfolio of initiatives that can join discoveries to our producing hubs. Equinor expects to place over 30 such initiatives on stream on the NCS [Norwegian continental shelf] inside 2035”.
Norway-based suppliers have bagged round 90 p.c of Halten East investments, Equinor famous, including: “The event part of Halten East is estimated to offer round 3000 person-years of employment per 12 months from 2022 to 2029”.
To contact the writer, e-mail jov.onsat@rigzone.com
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