Edition:
United Kingdom

Equinor to drill more Fram wells for NOK 1.9 bln


Friday, 25 May 2018 

May 25 (Reuters) - Equinor ASA ::EQUINOR AND ITS PARTNERS MAKE INVESTMENTS IN FRAM FIELD THAT WILL ALMOST DOUBLE REMAINING RESERVES.HAVE DECIDED TO DRILL THREE NEW WELLS ON FIELD FOR NOK 1.9 BILLION ($234.39 MILLION).THREE WELLS WILL GIVE 70 MILLION NEW BARRELS OF OIL AND GAS, THANKS TO HIGHER GAS PROCESSING CAPACITY ON TROLL C.START-UP OF NEW GAS MODULE IS EXPECTED IN AUTUMN OF 2019.NEW GAS MODULE WILL ENABLE ACCELERATED RECOVERY OF RESOURCES IN FRAM AREA, WHICH HAS PREVIOUSLY BEEN LIMITED BY TROLL C GAS PROCESSING CAPACITY.BOOSTING PRODUCTION, THREE NEW WELLS WILL REPRESENT NET EARNINGS THAT AT CURRENT PRICES WILL CREATE VALUE OF A TOTAL OF NOK 18 BILLION.SCHEDULED TO START AT TURN OF YEAR 2018/2019, DRILLING OF THREE WELLS WILL TAKE AROUND ONE YEAR. 

Company Quote

4070.0
-65.0 -1.57%
20 Nov 2018