EQNR Equinor ASA

By Dominic Chopping

Norway's Equinor ASA said Monday that with its partners it has received permission to increase gas exports from two fields on the the Norwegian continental shelf to supply the tight European market.

Production permits for the Oseberg and Troll fields have each been increased by one billion cubic meters, Equinor said.

The permits will see production from Oseberg increase to six billion cubic meters for the year starting 1 October, from five billion cubic meters in the current year. Troll production will rise to 37 billion cubic meters from 36 billion cubic meters.

Equinor said it took steps in June to evaluate and develop concepts for enhancing production and exports to the European market, which has resulted in the enhanced production permits from the Ministry of Petroleum and Energy.

"The production permits allow us to produce more gas from these two important fields this fall and through the winter," said Helge Haugane, Equinor's senior vice president for Gas & Power.

"We believe that this is very timely as Europe is facing an unusually tight market for natural gas. At Equinor we are working on measures to increase exports from our fields on the Norwegian continental shelf."

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

September 20, 2021 06:32 ET (10:32 GMT)

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