Equinor has decided to sell a stake in a gas field located in the North Sea. This agreement aims to extend the life of the Gina Krog field. With this transaction, PGNiG Upstream Norway has increased its presence offshore Norway.
Equinor’s participation in Campo de Gas
PGNiG will acquire 19.5% of Equinor’s PL 1201 and PL 048E production licenses. These licenses contain the Eirin gas field, located 250 kilometers west of Stavanger. This move seeks to balance ownership between the two companies in these licenses, complementing the Gina Krog field.
According to Camilla Salthe, Equinor’s senior vice president of late fields, these balanced partnerships will allow better coordination in decision making to optimize production and increase the value of the area. Salthe said,“Balanced partnerships will facilitate the coordination of licensing decisions to optimize production and enhance the area’s value creation.”
The Plan of Development and Operation (PDO) for the Eirin field, which connects subsea to Gina Krog, received approval in January 2024. Subsea infrastructure is currently under construction in Egersund, with installation scheduled for summer 2024.
Eirin gas field condensate
From the Eirin Gas Field it will export through a new pipeline from Gina Krog to the Sleipner A platform. The gas will be transported by pipeline to the same platform for further processing. to the same platform for further processing.
The marketable gas will be exported from the Sleipner A facility via Gassled to the market, while the unstabilized condensate will be sent to the Kårstø terminal. It is anticipated that the field will begin contributing to Equinor’s gas volumes starting next year.
Equinor’s emissions on the Norwegian Continental Shelf (NCS) are expected to be reduced by the electrification of the Sleipner field center. In addition, activities on the Gudrun platform, where the expansion of two wells is underway, and in other associated fields.
Salthe also noted that, along with the electrification of the platform, the development of the Eirin field will help extend the life of the Gina Krog field. This field supplies gas to Europe with low production and transportation emissions.
Global projects
Production license PL 1201 was awarded in this year’s round of predefined area awards (PAAs). The company details that any findings in this license could be leveraged by Eirin’s infrastructure and establish a connection to the Gina Krog platform. The economic effective date of the transfers is January 1, 2024, and the closing of the transaction is subject to ministerial approval.
Recently, the company announced the departure of its new FPSO from Aker Solutions’ Stord shipyard, destined for an oil project in the Barents Sea. In addition, Equinor plans to invest more than $1 billion to upgrade gas infrastructure in the Troll West area along the second stage of the Troll Phase 3 (TP3 II) project.
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Source: Offshore Energy
Photo: Equinor
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