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Equinor commences billion-euro expansion

The Norwegian oil giant aims to set up production at the Breidablikk field with an investment of nearly NOK 20 billion. The find is deemed the most interesting one in the Norwegian sector to not yet have been developed.

Photo: Equinor

Equinor means to expand its Breidablikk find, connected to Grane, in order to exploit the 200 million barrels of oil equivalent expected held in the field, the oil outfit confirms in a press release Monday morning.

The investment comes to NOK 18.6 billion (EUR 1.7 billion). The project is thereby the largest one to be approved since Norwegian politicians in June agreed to award the nation's oil firms with tax cuts due to the coronavirus and oil price crises.

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