Verdande is a conventional oil development located in deepwater in Norway and is operated by Equinor Energy. According to GlobalData, who tracks more than 34,000 active and developing oil and gas fields worldwide, Verdande was discovered in 2017, lies in block 6607/12P (PL 127), 6608/10P (PL 128), 6608/10P (PL 128 D), and 6607/12P (PL 127 C), with water depth of around 1,230 feet. Buy the profile here.
The project is currently in approval stage and is expected to start commercial production in 2025. Final investment decision (FID) of the project was approved in 2022. The development cost is expected to be $476 m.
Production from Verdande
Production from the Verdande conventional oil development project is expected to begin in 2025 and is forecast to peak in 2026, Based on economic assumptions, the production will continue until the field reaches its economic limit in 2058.
Contractors involved in the Verdande conventional oil field
Some of the key contractors involved in the Verdande project as follows.
EPC Contractors: DeepOcean Group Holding and Subsea 7
Other Contractors: Transocean and TechnipFMC
About Equinor Energy
Equinor Energy AS (Equinor Energy) is a wholly-owned subsidiary of Equinor ASA. The company provides oil and gas exploration and production services. It extracts, refines, and transports natural gas, crude oil, and wind power for manufacturing of synthetic fabrics, plastics, asphalt, cosmetics, and medicines. Equinor Energy is headquartered in Stavanger, Norway.
For more details on the Verdande Conventional Oil Field, buy the profile here.