Equinor and its partners have submitted a development plan to the Norwegian Ministry of Petroleum and Energy for the Phase III of Troll field, which is expected to realise 2.2 billion barrels of oil equivalent.

With estimated capital expenditures of Nkr7.8bn ($957.42m), the Phase III project is set to expand the productive life of the Troll field located on the Norwegian continental shelf (NCS) beyond 2025.

The enhanced development of the field will bolster gas supply from Norway to Europe. This gas supply is said to be equivalent to the consumption of 50 million European households for 30 years in the future.

Equinor Projects and Drilling, Technology executive vice-president Margareth Øvrum said: “The plan for development and operation for the next phase of the Troll development submitted today is highly important both to the future value creation for Norwegian society, but also to ensuring future gas deliveries to Europe.”

The company is also signing around Nkr750m ($92.05m) worth of contracts with Allseas, Nexans and Deep Ocean within marine installations and subsea facilities.

"The enhanced development of the field will bolster gas supply from Norway to Europe."

Equinor is the operator of the Troll project with a 30.58% interest, while 56% is held by Petoro, 8.10% by Norske Shell, 3.69% by Total E&P Norge and ConocoPhillips Skandinavia has 1.62%.

Last year, the partners chose a subsea concept for the Phase III, comprising building and installation of two subsea templates, a 36-inch pipeline, drilling of eight production wells and a new processing module on the Troll A platform.

The contracts to deliver subsea facilities and construct the processing module have been awarded to Aker Solutions.

While Phase I of the Troll project involved gas in East reservoir of the field and Phase II worked on West reservoir, the Phase III will see gas cap over the oil column in the West and the production will continue.