Equinor to invest $940 million in Halten East development
- Norwegian offshore project aims to develop around 16 million standard cubic meters of oil equivalent at Eldfisk field
The Halten East area in the Norwegian Sea, containing six small gas and condensate discoveries, will be developed as a subsea tie-back to the Åsgard B platform, with first production expected in 2025 Equinor and its partners Vår Energi, Spirit Energy and Petroo have agreed Invested nearly $940 million in the Halten East development in the Norwegian Sea.
The project involves the development of an area near the Åsgard field. There are six small gas and condensate mines in the area. With the help of existing facilities and infrastructure, these findings will be linked to the ÅsgardB platform. The estimated recoverable reserves in the Halten East area are approximately 16 million standard cubic meters of oil equivalent. 60% of this is natural gas, which will be transported to Europe via the Kårstø processing centre. Equinor and its partners have submitted a development and operating plan for the Halten East development to the Norwegian Ministry of Petroleum and Energy.
Geir Tungesvik, Executive Vice President of Projects, Drilling and Procurement at Equinor said: “Gas is an important energy carrier in Europe. HaltenEast will generate significant value by leveraging the existing gas infrastructure on the Norwegian continental shelf. A great example of how to work with production license partners and government authorities to find smart solutions for optimal resource development from NCS." The Halten East project is planned to be carried out in two phases.
The first phase will see six wells drilled in 2024-2025. The second phase is planned for 2029. Equinor said the production target for the first two wells is 2025. Subsequently, other wells will be brought into production upon completion. The company has contracted Technip FMC to install pipelines and subsea structures. Keywords: engineering construction, engineering news
Equinor also awarded NOK 3.6 billion drilling, professional services, drilling services and ÅsgardB platform module retrofit contracts. Separately, Equinor announced a new oil discovery 5km southeast of the Johan Castberg field in the Barents Sea through the drilling of Snøfonn Nord exploration well 7220/8-2S.Editor/XingWentao