Norway's Equinor and its partners in the Troll licence have submitted the plan for further development of the massive Troll field on the Norwegian continental shelf (NCS) to the Ministry of Petroleum and Energy.
The capital expenditures for the project is estimated at NOK 7.8 billion ($955.9 million), helping extend the productive life of the Troll field beyond 2050.
“The third phase of the Troll development realises 2.2 billion barrels of oil equivalent, it has a break-even of less than USD 10 per barrel and a carbon intensity of 0.1 kg per barrel. This is probably one of the most profitable and robust projects in the company’s history,” said Margareth Øvrum, executive vice president for Technology, Projects and Drilling of Equinor.
“The further development of Troll will also strengthen Norway’s ability to supply Europe with gas. The gas from Troll will ensure reliable, profitable and carbon-efficient gas supply equivalent to the consumption of 50 million households in Europe for 30 years in the future,” said Gunnar Nakken, Equinor’s senior vice president for Operations West.
The annual export volume from Troll is estimated to 8 per cent of EU’s gas consumption.
The gas is produced on the Troll A platform, which is electrified. The production therefore generates very low CO2 emissions. The gas is piped to Kollsnes, where it is cleaned, dried and compressed before being transported to Europe in the Zeepipe pipelines.
The development of the Troll field has also been important to the development of the oil and gas industry, particularly in Norway. Earlier this year the partnership awarded contracts for subsea facilities and the construction of a new processing module on the Troll A platform to Aker Solutions.