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Equinor, partners start Utgard field production ahead of schedule

A consortium led by Equinor ASA started production at the North Sea's Utgard gas and condensate field ahead of schedule.

The field, which will produce around 43,000 barrels of oil equivalent per day at its plateau, was initially targeted to start production by the end of 2019. It has an expected lifetime beyond 2025.

The project had a reduced cost from 3.5 billion Norwegian kroner to 2.6 billion kroner, according to a Sept. 17 news release from Equinor.

The field development is composed of two wells from a subsea template tied back to the Sleipner field by a pipeline and an umbilical. The wells are on each side of the Norwegian border.

Utgard will be remote-operated from Norway's Sleipner field, in which the well stream will be processed before dry gas is transported to the market through the Gassled pipeline system. Liquids will also be sent through a pipeline to Kårstø for export to Europe.

The project spans the Norwegian and U.K. continental shelves.

Equinor acquired the rights to develop the U.K. side in 2016, but the field was discovered in 1982.

Equinor subsidiaries Equinor Energy AS and Equinor UK Ltd. hold a 38.44% stake each, with Equinor Energy serving as project operator. Lotos Exploration and Production Norge A/S owns a 17.36% interest, while KUFPEC Norway AS has a 6.2% stake.

As of Sept. 16, US$1 was equivalent to 8.97 Norwegian kroner.