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Released September 08, 2021 | GALWAY, IRELAND
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Written by Martin Lynch, European News Editor for Industrial Info (Galway, Ireland)--Norway's oil major Equinor (NYSE:EQNR) (Stavanger) has announced that production is underway from its "highly profitable" Troll Phase 3 project in the North Sea.
With a break-even price below US$10 per barrel and CO2 emissions of less than 0.1 kilogram per barrel oil equivalent (boe), the company claimed it is one of its most profitable projects in the company's history, while featuring the lowest CO2 emissions. Startup of the US$925 million project was delayed by months due to COVID-19, but the new wells have now been tied into the Troll A platform, and this phase is expected to extend the platform's life past 2050. Troll Phase 3 consists of eight wells in two templates, a new pipeline and umbilical connecting the templates to Troll A as well as a new gas processing module on the platform. Troll is Norway's largest gas producer, with large reserves still left in the ground. Equinor estimates that after more than 20 years of production, 65% of the gas has still not been recovered.
Recoverable volumes from Troll Phase 3, which will produce the Troll West gas cap, are estimated at as much as 347 billion cubic metres (Bcm) of gas--which in oil equivalent amounts to 2.2 billion barrels. The annual export volume from Troll is equivalent to approximately 8% of the European Union's (EU's) gas consumption, and the latest phase will reinforce Norway's ability to secure gas deliveries to Europe in the coming decades.
"Troll Phase 3 is one of the most profitable projects throughout Equinor's entire history, while at the same time featuring production with record-low CO2 emissions. This is thanks to large gas reserves and a development solution mostly based on existing infrastructure, such as pipelines, the processing plant at Kollsnes and, not least, the Troll A platform which receives power from shore. The project has been executed without serious injuries, which is extremely important," said Arne Sigve Nylund, executive vice president of Projects, Drilling and Procurement.
The Troll A platform, which has been operating for more than 25 years, was also the first platform on the Norwegian continental shelf to be electrified. "Troll Phase 3 will extend the life of Troll A and the Kollsnes processing plant beyond 2050, and the plateau period by 5-7 years," said Kjetil Hove, Equinor's executive vice president for Exploration and Production Norway. "This will help secure jobs offshore, at Sandsli and at Kollsnes for both Equinor and its suppliers for several decades into the future."
Earlier this year, Industrial Info reported that Equinor and its partners announced plans to invest US$165 million to develop the Asgard oil field in the Norwegian Sea and implement the Åsgard B low-pressure project. For additional information, see March 17, 2021, article--Equinor Pushes Ahead with Asgard Oil Field Project.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
With a break-even price below US$10 per barrel and CO2 emissions of less than 0.1 kilogram per barrel oil equivalent (boe), the company claimed it is one of its most profitable projects in the company's history, while featuring the lowest CO2 emissions. Startup of the US$925 million project was delayed by months due to COVID-19, but the new wells have now been tied into the Troll A platform, and this phase is expected to extend the platform's life past 2050. Troll Phase 3 consists of eight wells in two templates, a new pipeline and umbilical connecting the templates to Troll A as well as a new gas processing module on the platform. Troll is Norway's largest gas producer, with large reserves still left in the ground. Equinor estimates that after more than 20 years of production, 65% of the gas has still not been recovered.
Recoverable volumes from Troll Phase 3, which will produce the Troll West gas cap, are estimated at as much as 347 billion cubic metres (Bcm) of gas--which in oil equivalent amounts to 2.2 billion barrels. The annual export volume from Troll is equivalent to approximately 8% of the European Union's (EU's) gas consumption, and the latest phase will reinforce Norway's ability to secure gas deliveries to Europe in the coming decades.
"Troll Phase 3 is one of the most profitable projects throughout Equinor's entire history, while at the same time featuring production with record-low CO2 emissions. This is thanks to large gas reserves and a development solution mostly based on existing infrastructure, such as pipelines, the processing plant at Kollsnes and, not least, the Troll A platform which receives power from shore. The project has been executed without serious injuries, which is extremely important," said Arne Sigve Nylund, executive vice president of Projects, Drilling and Procurement.
The Troll A platform, which has been operating for more than 25 years, was also the first platform on the Norwegian continental shelf to be electrified. "Troll Phase 3 will extend the life of Troll A and the Kollsnes processing plant beyond 2050, and the plateau period by 5-7 years," said Kjetil Hove, Equinor's executive vice president for Exploration and Production Norway. "This will help secure jobs offshore, at Sandsli and at Kollsnes for both Equinor and its suppliers for several decades into the future."
Earlier this year, Industrial Info reported that Equinor and its partners announced plans to invest US$165 million to develop the Asgard oil field in the Norwegian Sea and implement the Åsgard B low-pressure project. For additional information, see March 17, 2021, article--Equinor Pushes Ahead with Asgard Oil Field Project.
Industrial Info Resources (IIR), with global headquarters in Sugar Land, Texas, six offices in North America and 12 international offices, is the leading provider of global market intelligence specializing in the industrial process, heavy manufacturing and energy markets. Industrial Info's quality-assurance philosophy, the Living Forward Reporting Principle, provides up-to-the-minute intelligence on what's happening now, while constantly keeping track of future opportunities. Follow IIR on: Facebook - Twitter - LinkedIn.
