Norwegian energy giant Equinor and its partners announced a multibillion-dollar investment to boost oil and gas production in the North Sea for European markets through the development of the Fram Sør subsea project. The initiative, valued at more than NOK 21 billion, aims to connect new discoveries to existing infrastructure in the Troll and Fram area.
Sustainable oil and gas production in the North Sea
The plan approved by the Norwegian Ministry of Energy calls for the commissioning of twelve wells by the end of 2029. These wells will be connected to the Troll C platform that is fed with energy from land, allowing to maintain an estimated CO₂ intensity of only 0.5 kg per barrel extracted versus the industry average of 16 kg. In addition to the environmental benefit, the project will take advantage of facilities already in operation to optimize costs and efficiency.
[post_relacionado]The Fram Sør development is expected to produce 116 million barrels of oil equivalent, of which 75 % will be oil and 25 % gas. The crude oil will be shipped via the Troll II pipeline to Mongstad while the gas will flow to Kollsnes via the Troll A platform. Troll A. These well-established routes ensure efficient integration into the Norwegian export system.
One of the highlights of the project is the implementation of all-electric Christmas trees, a first on the Norwegian continental shelf. Norwegian continental shelf. This technology dispenses with hydraulic fluids and improves subsea equipment monitoring, reducing environmental risks and increasing operational reliability.
Economic impact and future projection
The Fram Sør development will generate around 4,500 full-time equivalent jobs during its execution phase. Most of the contracts are for Norwegian-based companies, although international participation is also expected. Equinor expects to replicate this type of initiative in at least 50 similar projects by 2035.
The consortium is comprised of Equinor (45%), Vår Energi (40%) and INPEX Idemitsu Norge AS (15%). The water depth in the area is about 350 meters and the field is located between 1,800 and 2,800 meters below the seabed.
This move reaffirms Norway’s commitment to maintaining its leadership in offshore energy in a sustainable, efficient and strategically valuable way for Europe.
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Source and photo: Equinor