Offshore staff
STAVANGER, Norway — Norske Shell has agreed to sell its 30% operated interest in the Linnorm gas discovery in the Norwegian Sea to Equinor.
Assuming regulatory approvals, the deal should close in first-quarter 2024, raising Equinor’s equity position in the license to 50%. The other partners are state-owned Petoro (30%) and TotalEnergies EP Norge (20%).
"Through this acquisition, Equinor will deepen our position in the Halten area,” said Kjetil Hove, executive vice president for Exploration and Production Norway, “where we already have producing hubs and still see attractive opportunities."
The company will assess a subsea tieback to either its Kristin or Åsgard B platforms.
Linnorm, discovered in 2005, is said to be Norway’s largest undeveloped gas resource containing an estimated 25 Bcm to 30 Bcm recoverable, more gas than the gas remaining reserves in the producing Equinor-operated Aasta Hansteen, Martin Linge and Gina Krog fields.
12.14.2023
