Norwegian oil project to be 85 percent more costly than expected

Both Njord Future and Martin Linge will be far more expensive than planned, according to new figures from the Norwegian state budget. The total overrun now amounts to more than EUR 2.9 billion. Operator Equinor refers to factors including safety.

Photo: Martin Linge

The example set by Johan Sverdrup will be hard to live up to.

Extraction at Equinor's giant oil field commenced on Oct. 5, and the price landed NOK 30.8 (EUR 3.07 billion) billion under budget. And the field has even been praised by the International Energy Agency as being unmatched.

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