{"id":143120,"date":"2021-10-29T13:33:36","date_gmt":"2021-10-29T13:33:36","guid":{"rendered":"https:\/\/precoinnews.com\/?p=143120"},"modified":"2021-10-29T13:33:36","modified_gmt":"2021-10-29T13:33:36","slug":"equinor-sees-its-investment-in-noaka-oil-and-gas-at-up-to-4-2-billion","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/markets\/equinor-sees-its-investment-in-noaka-oil-and-gas-at-up-to-4-2-billion\/","title":{"rendered":"Equinor sees its investment in NOAKA oil and gas at up to $4.2 billion"},"content":{"rendered":"

OSLO (Reuters) – Equinor plans to invest 25-35 billion Norwegian crowns ($3-$4.2 billion) to develop the so-called NOAKA oil and gas fields with partners in the North Sea, it said on Friday.<\/p>

FILE PHOTO: Equinor’s flag in Stavanger, Norway December 5, 2019. REUTERS\/Ints Kalnins<\/figcaption>

The NOAKA (North of Alvheim Krafla Askja) project is set to come on stream in 2027 and would become the largest oil and gas development off the coast of Norway since 2019, when Equinor\u2019s giant Johan Sverdrup field started production.<\/p>\n

The cluster of petroleum discoveries between the Oseberg and Alvheim fields could cost around $10 billion to develop in total, the other operator in the area, Aker BP, said on Thursday.<\/p>\n

Aker BP, which will operate two of the licences, North of Alvheim and Fulla (NOA Fulla), said its part of the investments could total 40-55 billion Norwegian crowns.<\/p>\n

Equinor will operate the Krafla licence, and the partnership, which also includes Poland\u2019s Lotos, will coordinate processing, exports and electrification of the offshore platforms.<\/p>\n

\u201cWe can confirm that we have chosen a concept (for Krafla). It would be produced with (an) unmanned production platform,\u201d an Equinor spokesperson said in an email.<\/p>\n

Krafla will process and export oil via Aker BP\u2019s production platform at NOA, while it would send natural gas directly for processing at an onshore plant in Norway, from where it will be exported to Europe.<\/p>\n

Aker BP on Thursday revised NOAKA\u2019s overall estimate of gross recoverable reserves to around 600 million barrels of oil equivalent (boe) from \u201cmore than\u201d 500 million boe previously.<\/p>\n

Aker BP said it targeted production of 250-370 million boe from the NOA Fulla area during the field\u2019s lifetime, while Equinor said it aimed to produce about 300 million boe in the Krafla area.<\/p>\n

Aker BP Chief Executive Karl Johnny Hersvik said on Thursday Aker BP saw a significant potential to increase NOAKA\u2019s reserves further in the future.<\/p>\n

Equinor and Aker BP plan to present two separate development plans for the Krafla and the NOA Fulla areas respectively by the end of 2022.<\/p>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

OSLO (Reuters) – Equinor plans to invest<\/p>\n","protected":false},"author":3,"featured_media":143119,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23054],"tags":[],"yoast_head":"\nEquinor sees its investment in NOAKA oil and gas at up to $4.2 billion - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/markets\/equinor-sees-its-investment-in-noaka-oil-and-gas-at-up-to-4-2-billion\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Equinor sees its investment in NOAKA oil and gas at up to $4.2 billion - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"OSLO (Reuters) – Equinor plans to invest\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/markets\/equinor-sees-its-investment-in-noaka-oil-and-gas-at-up-to-4-2-billion\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-10-29T13:33:36+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/10\/Equinor-sees-its-investment-in-NOAKA-oil-and-gas-at-up-to-4.2-billion.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/markets\/equinor-sees-its-investment-in-noaka-oil-and-gas-at-up-to-4-2-billion\/\",\"url\":\"https:\/\/precoinnews.com\/markets\/equinor-sees-its-investment-in-noaka-oil-and-gas-at-up-to-4-2-billion\/\",\"name\":\"Equinor sees its investment in NOAKA oil and gas at up to $4.2 billion - 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