by Andreas Exarheas
Tuesday, July 03, 2018
Production from the Troll field is expected to continue until around 2060, the Norwegian Petroleum Directorate (NPD) says.
Production from the Troll field is expected to continue until around 2060, the Norwegian Petroleum Directorate (NPD) said in an organization statement released Tuesday.
The statement followed news from Equinor that it had submitted a $954.46 million (NOK 7.8 billion) plan to develop gas reserves in the western part of the field.
“There are still considerable remaining oil and gas resources to recover from Troll, and the Norwegian Petroleum Directorate is therefore still concerned with the balance in the extraction of oil and gas,” Arvid Østhus, NPD’s assistant director for development and operations in the northern North Sea, said in a statement released on the NPD website.
Troll is Norway’s biggest gas producer and has been the country’s biggest oil producer for the past five years, Equinor confirmed. The field came on-stream in 1995.
“The Troll oil and gas field is in a class by itself globally,” Margareth Øvrum, Equinor’s executive vice president for technology, projects and drilling, said in a company statement released earlier today.
Gunnar Nakken, Equinor’s senior vice president for operations West, said Troll operations have already generated “great value”.
“Since it came on stream in 1995 the Troll field has generated an estimated NOK 1,400 billion [$172 billion] in revenues, equivalent to NOK 175 million [$21.5 million] per day in average. In the future we estimate that Troll will create even greater value,” Nakken said in the same Equinor statement.
In a statement published on the company’s Twitter page, Equinor said gas from Troll “will ensure reliable, profitable and carbon-efficient gas supply equivalent to the consumption of 50 million households in Europe”.
🎉at Sandsli today when we, together with our partners, submit the plan for further development of the Troll field to @oeddep. The gas from Troll will ensure reliable, profitable and carbon-efficient gas supply equivalent to the consumption of 50 million households in Europe 🇪🇺
— Equinor (@Equinor) 3 July 2018
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