Norwegian energy major Equinor will invest more than NOK 21bn ($2.1bn) in the North Sea Fram Sør subsea development.
The Fram Sør project is a combined development of several discoveries that will export oil and gas via the Troll C platform. Recoverable volumes are estimated at 116m barrels of oil equivalent, 75% of which is oil and 25% is gas. Production is scheduled to start at the end of 2029.
The CO2 intensity for the Fram Sør development is very low and stands at an estimated 0.5 kg of CO2 per barrel of oil equivalent. The average for the NCS is 8 kg.
The field development will use all-electric Christmas trees that eliminate the need for hydraulic fluid supplied from the platform and improve monitoring capabilities of the subsea equipment. A first on the NCS.
“We have a large portfolio of projects that will phase in discoveries to our producing fields. Equinor expects to put more than 50 such projects on stream by 2035,” said Kjetil Hove, Equinor’s EVP for exploration and production in Norway.
The Fram Sør investments will contribute to 4,500 full-time equivalents in Norway through the development period. Most of the suppliers are Norwegian, but some of the construction will take place abroad. In total, the contracts will have a value of about NOK 18bn ($1.8bn).
Equinor is the operator of the Fram field with a 45% stake, while its partners Vår Energi and Inpex hold 40 and 15%, respectively.
