EQNR - Equinor partners plan $2B Breidablikk oilfield development

Equinor (EQNR) and its partners in Norway's Breidablikk oil discovery in the North Sea, including ConocoPhillips (COP) and Eni's (E) Vaar Energi unit, say they have agreed on an NOK18.6B ($1.95B) development plan for the field.Equinor estimates the field contains 200M barrels of oil, with production scheduled to begin in H1 2024.The plan includes deployment of remote-control technology designed to cut costs, with subsea installations only rather than a traditional platform, taking advantage of the field's proximity to the older Grane oil platform and an extensive pipeline network.Equinor recently was upgraded at RBC, saying the company has one of the clearest low-carbon strategies in the sector, which continues to be underappreciated by the market.

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Equinor, partners plan $2B Breidablikk oilfield development