Equinor and partners submit plan for Phase 3 of gigantic Troll field; 2.2B boe, breakeven >US$10/bbl
Equinor and the partners in the Troll licence submitted the plan for Phase 3 development of the gigantic Troll field on the Norwegian continental shelf (NCS) to the Ministry of Petroleum and Energy.
Troll A platform in the North Sea.
The third phase of the Troll development realizes 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.—Margareth Øvrum, executive vice president for Technology, Projects and Drilling of Equinor
The capital expenditures for the project are estimated at NOK 7.8 billion (US$970 million), helping extend the productive life of the Troll field beyond 2050.
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.Gunnar Nakken, Equinor’s senior vice president for Operations West
The annual export volume from Troll is estimated to 8% 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. The development of Troll Phase 3 will have a very high Norwegian content, estimated at approximately 70%.