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Equinor's Visund Nord oil recovery project comes online ahead of schedule

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Equinor's Visund Nord oil recovery project comes online ahead of schedule

Equinor's Visund Nord improved oil recovery project has come on stream two months ahead of schedule, the company said in a Sept. 5 news release.

The Visund Nord oil recovery project is comprised of two new wells in a new subsea template, which is tied back to an existing template on Visund. The oil is piped via the existing template to the Visund platform.

The project provides 13.3 million barrels of oil to the Visund field, which is 6% more than originally estimated.

"The project has a competitive break-even price and will be profitable even with an oil price well below the current level," project director Tone Kristin Børslid said.

With a 53.2% stake, Equinor Energy AS serves as operator of Visund Nord. Petoro AS has a 30% interest, while ConocoPhillips Skandinavia AS holds a 9.1%, and Repsol Norge AS has a 7.7% in the project.