The Norwegian Ministry of Petroleum and Energy approved a 19 billion Norwegian kroner plan submitted by Equinor ASA, formerly Statoil ASA, that will increase the recovery from the Snorre field by about 200 million barrels, according to a July 5 news release.
Slated to begin production in 2021, the Snorre expansion project involves a comprehensive subsea development, upgrading of the Snorre A installation, increased gas injection and gas import for injection.
The Snorre field in the Tampen area in the northern part of the North Sea was originally expected to produce no later than 2014, but its life has been extended beyond 2040.
Subject to final regulatory approval, contracts have been awarded for the subsea production system to TechnipFMC PLC, fabrication and installation of the pipeline bundle system to Subsea 7 SA, Snorre A modifications to Aibel AS, drilling and well operations to Transocean Ltd. and marine installations to Deep Ocean.
As of July 4, 2018, US$1 was equivalent to 8.12 Norwegian kroner.