Investing 10 billions in the Oseberg field

[26.11.2021]
Cecilie Point Pedersen (from left), TotalEnergies, Wenche Tjelta Johansen, The Norwegian Petroleum Directorate, Stein Wolden, ConocoPhillips, Kjell Morrisbak-Lund, Petoro, Marte Mjøs Persen, Minister of Petroleum and Energy, and from Equinor Arild Gjerstad, Cecilie Aarskog Bekkeheien and Kjetil Hove. (Photo: Arne Reidar Mortensen / Equinor ASA)
Cecilie Point Pedersen (from left), TotalEnergies, Wenche Tjelta Johansen, The Norwegian Petroleum Directorate, Stein Wolden, ConocoPhillips, Kjell Morrisbak-Lund, Petoro, Marte Mjøs Persen, Minister of Petroleum and Energy, and from Equinor Arild Gjerstad, Cecilie Aarskog Bekkeheien and Kjetil Hove. (Photo: Arne Reidar Mortensen / Equinor ASA)
The Oseberg partners have made an investment decision of NOK 10 billion in further development of the field.
The partners will reduce CO2 emissions from the Oseberg Field Center and the Oseberg South Platform, while at the same time increasing gas production from Oseberg. Amended plan for development and operation (PDO) was handed over to Minister of Petroleum and Energy Marte Mjøs Persen.

With the significant gas reserves that can be recovered from the field, this is a very important development for Norway. Only Snøhvit and Troll can boast of larger gas reserves. Thus, this is an important milestone in the field's journey from an oil producer to a significant gas exporter.

The Oseberg field is today the field on the Norwegian shelf with the largest emission of CO2, and with this upgrade, the field's power needs will increase. This makes it extra important and not least absolutely crucial that the installations also become partial electrified. In addition, arrangements are being made for an opportunity to fully electrify Oseberg in the future. These are key measures for Norway to achieve its climate goals. Electrification is an investment that gives quick results in the form of large cuts in CO2 emissions.

-This upgrade of Oseberg helps us to produce oil and gas with as low emissions as possible. We are increasing gas production from Oseberg at the same time as we, through electrification, reduce CO2 emissions by around 320,000 tonnes per year, says Kristin Kragseth, CEO of Petoro.

Oseberg Unit partnership: Equinor (operator), Petoro, TotalEnergies and ConocoPhilips.
 

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