USAC - Equinor to Sell Stake in Two Norway Production Licenses | Benzinga
Equinor ASA (NYSE: EQNR) reached an agreement to divest a 19.5% interest in two of its Norwegian production licenses to PGNiG Upstream Norway.
The strategic transaction involves the production licenses PL 048E, located in the Eirin field, and PL 1201, situated just south of Eirin. Equinor currently holds a 78.2% stake in both licenses, with PGNiG holding the rest.
The Eirin field, discovered in 1978, is located 250 kilometers west of Stavanger at a depth of 4,000 meters. It boasts an estimated 27.6 million barrels of oil equivalent in recoverable reserves, primarily composed of natural gas. The field is being developed as a subsea facility, with a subsea template under construction in Egersund, scheduled for installation in the summer of 2024.
In January 2024, Equinor received a development and operation plan approval for the Eirin field. The development concept includes a subsea template connected to the Gina Krog platform via a production pipeline and umbilical cable.
The volumes from Eirin will be processed at Gina Krog, with condensate exported to Sleipner A through a new pipeline currently under construction. The gas will be transported to Sleipner A for further processing, with sales gas exported via Gassled to the market. Unstabilized condensate will be sent to the Karsto terminal.
The electrification of the Gina Krog platform, along ...