Equinor Starts Troll Phase 3 Project in the North Sea
Troll Phase 3 will be producing the Troll West gas cap and recoverable volumes from Troll Phase 3 are estimated at as much as 347 billion cubic metres of gas
On 30th August 2021, Equinor announced that the production has started from the Troll phase 3 project in the North Sea. According to the company, Troll Phase 3 project has a break-even price below 10 dollars and CO2 emissions of less than 0.1 kg per barrel oil equivalent. All the new wells are tied to the in to the Troll A platform and Troll Phase 3 will extend the life of the platform beyond 2050.
Troll Phase 3 will be producing the Troll West gas cap and recoverable volumes from Troll Phase 3 are estimated at as much as 347 billion cubic metres of gas. It is equivalent to approximately 2.2 billion barrels. Equinor has invested around USD 920 million ( NOK 8 billion) on the project.
Arne Sigve Nylund, executive vice president of Projects, Drilling and Procurement said, “Troll phase 3 is one of the most profitable projects throughout Equinor’s entire history, while at the same time featuring production with record-low CO2 emissions. This is thanks to large gas reserves and a development solution mostly based on existing infrastructure, such as pipelines, the processing plant at Kollsnes and, not least, the Troll A platform which receives power from shore. The project has been executed without serious injuries, which is extremely important.”
Equinor, Petoro, Shell, TotalEnergies and ConocoPhillips are the partners in the Troll project. Equinor operates the Troll platform with a share of 30.58%. Petoro AS holds 56% share, AS Norske Shell 8.10%, TotalEnergies EP Norge AS 3.69%, and ConocoPhillips Skandinavia AS 1.62% share.
Kjetil Hove, Equinor’s executive vice president for Exploration and Production Norway said, “Troll phase 3 will extend the life of Troll A and the Kollsnes processing plant beyond 2050, and the plateau period by 5-7 years. This will help secure jobs offshore, at Sandsli and at Kollsnes for both Equinor and its suppliers for several decades into the future.
Troll is Norway’s largest gas producer with around two-third of the reserves still left in the ground. After more than 20 years of production, 65% of the gas has still not been recovered.
