The Norwegian energy company Equinor (formerly known as Statoil) has submitted a NOK7.8bn (€820m) development plan for the Troll giant oil and gas field offshore Norway. The company wishes to extend the asset's productive life beyond 2050 and expects it to deliver 2.2 Gboe during the third phase of its development. Equinor owns a 30.58% operating interest in the Troll field, while the remainder is shared between Petoro (56%), Shell (8.1%), Total (3.69%) and ConocoPhillips (1.62%).
Troll has also been Norway’s biggest oil producer for the past five years and is the largest offshore gas field in the country, with reserves of 1,890 bcm and a production of 33 bcm in 2016 (around 30% of the total), covering around 8% of the total European Union's annual gas consumption. Equinor estimates that even after 20 years of production, approximately 65% of its reserves have still not been recovered. The further development (third phase) of the Troll field will enable Norway to reinforce its ability to supply Europe with gas.