Equinor, alongside its Fram partners, has announced an investment of more than Nkr21bn ($2bn) in the new Fram Sør subsea development to enhance energy supply security from the Norwegian Continental Shelf (NCS) to Europe.
The Fram partners are Equinor Energy (45%), Vår Energi (40%) and INPEX Idemitsu Norge (15%).
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The Fram Sør project will unite several discoveries, including Echino South and Blasto, to export oil and gas via the Troll C platform in the North Sea, with recoverable volumes estimated at 116 million barrels of oil equivalent.
The development and operation plan for the project has been officially submitted to Norway’s Minister of Energy, Terje Aasland.
Production is set to commence at the end of 2029.
Equinor Projects, Drilling & Procurement executive vice-president Geir Tungesvik said: “The development will put new oil and gas resources on stream by connecting new infrastructure to existing facilities that provide good and robust profitability.
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By GlobalData“The project will generate activity for the Norwegian supply industry, with an estimated employment effect of 4,500 full-time equivalents (FTEs) during the development period.”
The Fram Sør field development includes a technological breakthrough on the NCS in the form of all-electric Christmas trees, which removes the necessity for hydraulic fluid from the platform and enhances the monitoring of subsea equipment, stated Equinor.
The CO₂ intensity for this development is estimated at around 0.5kg of CO₂ per barrel of oil equivalent, significantly lower than the NCS average of 8kg and the industry average of around 16kg.
Equinor Exploration & Production Norway executive vice-president Kjetil Hove said: “We have a large portfolio of projects that will phase in discoveries to our producing fields. Equinor expects to put more than 50 such projects on stream by 2035.”
The investments in Fram Sør will not only support the Norwegian supply industry during the development phase but also throughout its operational life. Contracts valued at around Nkr18bn will be awarded, subject to regulatory approval.
In related news, a new company named Adura has been formed by the joint venture between Equinor and Shell, which has been referred to as the “UK North Sea’s largest independent oil and gas producer”.
In December 2024, Equinor and Shell announced they would merge their UK offshore oil and gas assets and expertise.
Adura, headquartered in Aberdeen, is set to sustain domestic oil and gas production and ensure energy security in the UK and beyond.
