Equinor and its partners reached an agreement on the development concept for Ringvei Vest, a subsea project connected to the Troll B platform in the Norwegian North Sea.
The agreement represents a significant step forward in maturing the project, as it establishes a joint solution for seven discoveries and one prospect. With this definition, the company paves the way for a potential common development of the field on the Norwegian Continental Shelf.
According to Equinor, Ringvei Vest could contribute approximately 240 million barrels of oil equivalent, positioning it as one of the largest initial development projects on the Norwegian Continental Shelf.
Ringvei Vest could produce 240 million barrels
Kjetil Hove, Equinor’s Executive Vice President for Exploration and Production in Norway, highlighted that the project is the result of a prolonged evaluation process with partners and authorities.
“We estimate that Ringvei Vest will contribute 240 million barrels of oil equivalent. A great deal of effort has been made over a long period, and I am confident that, together with our partners and the authorities, we have arrived at the best development solution, which also ensures optimal resource utilization,” Hove stated.
The discoveries included in the project are Grosbeak, Swisher, Mulder, Kveikje, Toppand, Røver Sør, and Røver Nord. Additionally, the plan incorporates the Grønngylt prospect. These resources are distributed across eight licenses with seven owners in total.
Equinor to connect subsea development to Troll B
As operator of all involved licenses, Equinor has led the area planning and evaluated different alternatives to determine which discoveries to integrate into the development and which would be the most suitable host platform.
The chosen concept involves drilling 13 wells using six subsea templates. The flow from the wells will be separated on the seabed before being transported to the Troll B platform, which will also supply power to the subsea facilities.
The wells will be controlled from Troll B. From this platform, oil will be sent to Mongstad, while gas will be transported to Kollsnes.
Existing infrastructure reduces costs and emissions
Equinor noted that the Norwegian Continental Shelf is in a mature stage, with smaller discoveries and increasing costs. Therefore, the company considers it key to develop marginal fields near existing infrastructure.
The project also includes the installation of a new compressor on Troll B to increase processing capacity. The platform receives part of its power from shore, which will allow for oil and gas production in Ringvei Vest with lower emissions.
Equinor aims to increase its own production on the Norwegian Continental Shelf to 1.3 million barrels per day by 2035.
Decision on continuation expected by year-end
The company reported on Ringvei Vest at an early stage due to the project’s magnitude and importance. However, it indicated that it is still too early to comment on the required investment level.
The decision on the project’s continuation, known as DG2, is planned for the end of the year. The timeline for the final investment decision, the submission of the development and operation plan, and the start of production has not yet been defined.
Source and photo: https://www.equinor.com/
