Equinor to boost gas production from Norway's Troll gas field (updated)

TotalEnergies SE

Yesterday 08:15

Companies investing $410 million to expand output
Startup of new wells expected in 2028
Owners are Equinor, Petoro, Shell, TotalEnergies, ConocoPhillips 
Norway is Europe's biggest gas supplier
Adds daily volume in paragraph 3

    OSLO, June 19 (Reuters) - Equinor EQNR.OL and its partners will invest just over 4 billion Norwegian crowns ($410 million) in a new subsea development that will boost gas production from Norway's offshore Troll field, the company said on Friday.
Norway is Europe's biggest supplier of natural gas, meeting around 30% of the continent's annual demand, and the North Sea Troll field is its largest gas resource.
The expansion will lift Norway's output of gas by between 2 million and 2.5 million cubic metres (mcm) per day for the first eight years, a company spokesperson said, corresponding to just under 1% of the country's daily production.

        The TWIN project agreed with partners Petoro, Shell SHEL.L, TotalEnergies TTEF.PA and ConocoPhillips is expected to contribute a total of around 11 billion standard cubic metres of gas from Troll, Equinor said in a statement.
The companies aim to start production from the new development as early as 2028, said Gunnar Nakken, Equinor's senior vice president for projects and subsea in Norway.
"By simplifying, increasing standardisation, and reusing existing infrastructure and equipment, we are reducing costs and enabling faster production in line with our new ways of working," Nakken said in the statement.

PROJECT IS THIRD STAGE OF TROLL PHASE 3
The TWIN project, consisting of two wells in a seabed template and a pipeline connected to existing subsea facilities, is the third step of Troll phase 3, which produces gas from the Troll West reservoir, Equinor said.
It follows the announcement last month that Norway's petroleum safety regulator had given Equinor permission to start gas production from the now completed second phase of Troll phase 3.
Operator Equinor owns a 30.55% stake in Troll, while state company Petoro holds 55.93%, Shell 8.19%, TotalEnergies 3.69% and ConocoPhillips 1.64%.
($1 = 9.7534 Norwegian crowns)

 (Reporting by Terje Solsvik; Editing by Nora Buli)
 ((terje.solsvik@thomsonreuters.com; +47 918 666 70;))