EQNR Decides on Troll West Electrification
Equinor (NYSE: EQNR) has revealed that the company and its partners - Petoro, Shell, Total, and ConocoPhillips - have decided in favor of Troll West electrification.
The companies have submitted a plan for development and operation to the minister of petroleum and energy, which includes partial electrification of the Troll B platform and full electrification of Troll C in the North Sea.
Equinor said this will cut CO2 emissions by almost half a million tons per year. NOx emissions from the field will be reduced by 1,700 tons per year, Equinor highlighted. Capital expenditures for the development total about $948 million (NOK 7.9 billion), according to Equinor.
The company said the Troll West electrification project will require substantial deliveries of goods and services and highlighted that this will generate value and jobs for Norwegian industry and the Norwegian society.
“Electrification is essential to successful reduction of the emissions from the Norwegian Continental Shelf (NCS), and we have ambitious plans for this,” Kjetil Hove, Equinor’s executive vice president for Norway development and production, said in a company statement.
“The partnership’s decision to electrify Troll B and Troll C will cut emissions substantially. The Troll area will deliver enormous volumes of low-emission energy for many decades, adding great value for the companies and for Norway,” Hove added.
Arne Sigve Nylund, Equinor’s executive vice president for technology, projects, and drilling, said, “I am very pleased that we can realize Troll B and C electrification, a project that will help cut emissions on the NCS significantly”.
“I am also pleased that we, in these challenging times, are able to sanction projects that help create great value for society and valuable activity for the suppliers. We expect that about 70 percent of the investments in this project will go to companies in Norway,” Nylund added.
Equinor describes the Troll field as a giant in the North Sea, and the most prolific field on the NCS. Troll unit partners comprise Equinor, which has a 30.6 percent operated interest, Petoro, which has a 56 percent stake, Shell, which has an 8.1 percent stake, Total, which has a 3.7 percent interest, and ConocoPhillips, which has a 1.6 percent stake.
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