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April 28, 2022

Peon Conventional Gas Field, Norway

By Carmen

Peon is a conventional gas development located in deepwater in Norway and is operated by Equinor Energy. Discovered in 2005, Peon lies in block 35/2P (PL 318), 35/1P (PL 269), and 6203/10P (PL 318 C), with water depth of around 1,260 feet.

The project is currently in feasibility stage and is expected to start commercial production in 2026.

Field participation details

The field is owned by Equinor, Inpex, Idemitsu Kosan and Petoro.


Production from Peon

Production from the Peon conventional gas development project is expected to begin in 2026 and is forecast to peak in 2027, to approximately 283 Mmcfd of natural gas. Based on economic assumptions, the production will continue until the field reaches its economic limit in 2065.


Remaining recoverable reserves

The field is expected to recover 123.55 Mmboe, comprised of 741.31 bcf of natural gas reserves.


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.

Methodology

Information on the field is sourced from GlobalData’s fields database that provides detailed information on all producing, announced and planned oil and gas fields globally. Not all companies mentioned in the article may be currently existing due to their merger or acquisition or business closure.

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