The Snorre Expansion Project has been approved by the Norwegian Ministry of Petroleum and Energy in favor of Equinor’s development and operation.
The plan foresees Equinor’s investments on the Snorre field of approx 2.3$bln to enhance the field production by approx 200 million barrels, increase its recovery rate from 46 to 51%, and extend its life cycle beyond 2040 (the field was originally estimated to produce until 2014). Scheduled to start producing in late 2021, the Snorre Project will be run by the current Snorre team in Stavanger, whereas supplies will be handled by Fjordbase in Florø.
Equinor estimates that around 80 per cent of the investments will come from Norwegian companies.
“Equinor has worked closely with partners and suppliers to realise the development. I am pleased that the plan for development and operation has been approved,” affirmed Margareth Øvrum, Equinor’s VO of Technology, Projects and Drilling.
The Snorre Expansion Project is the largest one for enhanced recovery on the Norwegian continental shelf, which involves a massive subsea development and growth of gas injection.