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Equinor will increase its oil production in Norway

Norwegian oil and gas company Equinor has announced the start of oil production from the Trestakk subsea field on Haltenbanken in the Norwegian Sea, which is estimated to hold recoverable resources of 76 mbl of oil and was developed at a cost of NOK 5bn (€520m). It will produce around 22,000 bbl/d (up to 44,000 bbl/d at peak production) over a 12-year period. The field is tied back to the Åsgard A floating production vessel, which will be operated until 2031 (extension from the 2019 original life time). The Trestakk license is operated by Equinor (59.1%), ExxonMobil (33%) and Vår Energi (7.9%).

In addition, Equinor and its partners in the Guydrun field have decided to invest NOK 2.5bn (€250m) in a water injection plant on the Gudrun field to improve reservoir recovery. The Gudrun field is located in the North Sea in license area PL025, about 55 km north of the Sleipner installations. It is operated by Equinor with 36%, in partnership with Neptune (25%), OMV (24%) and Repsol (15%). It is estimated to hold about 184 mboe of oil and gas resources and started to produce hydrocarbons in April 2014. Initially expected to operate until 2029, the field could produce until 2032 thanks to the enhanced oil recovery project.