Fossil Energy – Norwegian Sea
Equinor and Halten East partners Vår Energi, Spirit Energy and Petoro have decided to invest about NOK 9 billion in the development of the area neighbouring to the Åsgard field in the Norwegian Sea.
The area consists of six gas and condensate discoveries and option on another three prospects. The partnership today submits the plan for development and operation to the Ministry of Petroleum and Energy.
“Gas is an important energy carrier for Europe. Halten East utilises the existing gas infrastructure on the Norwegian continental shelf (NCS) and will add important volumes that will generate substantial value. The project is a good example of how Equinor works with partners and government authorities across production licences to find smart solutions for optimal resource exploitation from the NCS,” says Geir Tungesvik, Equinor’s executive vice president, Projects, Drilling & Procurement.
Halten East is a collective name for several small-size discoveries and prospects. Finding economically viable development alternatives for each individual project was difficult. In 2020 the licensees in the four licences therefore agreed to develop the area as a unit.
Recoverable reserves in Halten East are estimated at almost 16 million Sm3 of oil equivalent, or around 100 million barrels of oil equivalent, 60 percent of which is gas piped via Kårstø to Europe.
The project is planned to be executed in two phases. In the first phase of the development, six wells will be drilled in the period 2024-2025, whereas phase two is planned to be developed in 2029.Production start from the two first wells is scheduled for 2025. Subsequently, the wells will be put on stream as they are completed.
