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Equinor Launches First of Five Wells Offshore Norway

Equinor ASA (NYSE: EQNR), a Norwegian energy giant, has achieved a milestone with the commencement of production from the first well in its ambitious five-well tie-back project on the Norwegian Continental Shelf. This initiative is a tie-back to an existing offshore platform in the Norwegian Sea, highlighting Equinor's strategic focus on leveraging the existing infrastructure. Project Background and Milestones The journey began in 2021 when Equinor and its partners submitted the Plan for Development and Operation ("PDO") for the Lavrans and Kristin Q discoveries as satellite extensions to the Kristin field. The PDO for the first phase of the Kristin South project received approval in 2022, and production from the first Lavrans well commenced on Jul 7, 2024. Trond Bokn, Equinor's senior vice president for Project Development, emphasized that the Kristin South project illustrates the company's strategy to enhance value through the utilization of existing infrastructure on the Norwegian Continental Shelf. EQNR, in collaboration with partners and suppliers, has successfully initiated production from Lavrans. Operational Details The project saw the installation of a new subsea template tied into the Kristin platform, now processing oil and gas from the first Lavrans well. The produced gas is exported through the pipeline system to the European market, while the oil is transferred by ship via the Asgard C storage vessel. The Kristin South project's first phase includes four additional wells — three at the Lavrans field and one in the Q-segment at the Kristin field. The expected output from this phase is 6.2 GSm³ of gas and 1.9 MSm³ of oil, totaling 58.2 million barrels of oil equivalent. Grete B. Haaland, Equinor's senior vice ...