EQNR - Equinor wins government OK for Norwegian Sea oil and gas fields

2023-06-28 07:47:12 ET

Equinor ( NYSE: EQNR ) said Wednesday that Norwegian authorities approved its plans for development and operation of the Irpa and Verdande fields and Andvare production well in the Norwegian Sea.

The company said the Irpa gas field will be connected to infrastructure at the Aasta Hansteen field development, while the Verdande oil field and Andvare well will be connected to Norne field infrastructure.

Equinor ( EQNR ) said the Irpa gas volumes could supply more than 2.3M U.K. households with gas for seven years.

The projects are part of the Norwegian government's approval for oil companies to develop 19 oil and gas fields with investments exceeding NOK200B (~$18.5B), part of the country's strategy to extend production for decades to come .

Norway has surpassed Russia as Europe's biggest gas supplier after Moscow cut supplies as a result of the war in Ukraine.

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