Equinor and Partners to Invest $2.1 Bln in Norway Oil, Gas Field

By Reuters

(Reuters) – Equinor  and its partners Vaar Energi  and Inpex Idemitsu will invest more than 21 billion Norwegian crowns ($2.08 billion) to develop Norway’s Fram South oil and gas field, the companies said on Thursday.

Production is scheduled to start at the end of 2029, field operator Equinor said in a statement.

“Fram South will contribute to security of energy supply from the Norwegian continental shelf (NCS) to Europe,” said Geir Tungesvik, Equinor’s executive vice president for Projects, Drilling & Procurement.

The project will export oil and gas via Equinor’s existing Troll C platform in the North Sea.

Equinor holds a 45% stake in the field, while Vaar Energi has 40% and Inpex Idemitsu Norge the remaining 15%.

($1 = 10.0849 Norwegian crowns)

Reporting by Jagoda Darlak, editing by Terje Solsvik

Share This:

---

More News Articles