Equinor Submits $953 Million Plan For North Sea's Troll Field
July 03 2018 - 6:05AM
Dow Jones News
By Dominic Chopping
Norway's Equinor ASA (EQNR.OS) and its partners on Tuesday
submitted a plan for further development of the Troll field on the
Norwegian continental shelf, a plan with an estimated spending of
7.8 billion Norwegian kroner ($953 million) that will extend the
the productive life of the field to beyond 2050.
"The third phase of the Troll development realises 2.2 billion
barrels of oil equivalent, it has a break-even of less than $10 per
barrel," said Margareth Ovrum, executive vice president for
Technology, Projects and Drilling of Equinor.
"This is probably one of the most profitable and robust projects
in the company's history."
Since it came on stream in 1995 the Troll field has generated an
estimated NOK1.4 trillion in revenues, equivalent to NOK175 million
per day on average, Equinor said.
Partners on the Troll field include Equinor as operator with a
30.58% interest, Petoro with 56%, Norske Shell with 8.10%, Total
E&P Norge with 3.69% and ConocoPhillips Skandinavia with
1.62%.
-Write to Dominic Chopping at dominic.chopping@wsj.com; Twitter:
@domchopping @WSJNordics
(END) Dow Jones Newswires
July 03, 2018 05:50 ET (09:50 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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