Norwegian giant Equinor, formerly Statoil, has decided to invest NOK 1.9 billion (USD 230 million) in field expansion of the Fram installation in the Norwegian Sea, announced the company.
The investment will be injected into three new drillings in Fram for the expansion of available oil reserves of approximately 70 million tons of oil equivalents. According to Equinor, this corresponds to a 70 percent increase of field reserves in total. Last year, Equinor and its partners invested NOK 1 billion in a new gas module on Troll C. That investment is the financial justification to now expand Fram.
Get full access for you and your coworkers.Start a free company trial today
Already a member? Log in.