Equinor Makes Gas Find in the North Sea
November 06 2023 - 6:32AM
Dow Jones News
By Dominic Chopping
Equinor has made a commercially viable gas discovery by the Gina
Krog field in the North Sea, it said Monday.
The Norwegian energy major said the discovery is small, with
recoverable volumes estimated to be between 5 million and 16
million barrels of oil equivalent, but gas production can start as
early as the fourth quarter of 2023.
"The discovery will help extend the lifetime and strengthen the
profitability of Gina Krog," said Camilla Salthe, senior vice
president for field life extension at Equinor.
"It will quickly bring new gas to Europe with good profitability
and low carbon dioxide emissions from production."
Equinor said that when the energy crisis hit in 2021, there was
close collaboration with Norwegian authorities to deliver the
maximum amount of gas to Europe. The Gina Krog partnership
significantly increased its gas export by including gas previously
used in the oil-extraction process. At the same time, it
accelerated projects that could extend the lifetime of the
field.
Equinor is operator of Gina Krog with the Kuwait Foreign
Petroleum Exploration Company and Polskie Gornictwo Naftowe i
Gazownictwo as partners.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
November 06, 2023 07:17 ET (12:17 GMT)
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