Equinor has agreed to sell a 19.5% interest in two Norwegian production licences to PGNiG Upstream Norway.
The Norwegian oil and gas company is selling stake in production licence PL 048E, which is located in the Eirin field, and PL 1201, south of Eirin.
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This transaction will balance the ownership stakes between Equinor and PGNiG in the Gina Krog field, the company said.
Equinor received development and operation plan approval for the Eirin field in January 2024.
Discovered in 1978 and situated 250km west of Stavanger at a depth of 4,000m, the field will be developed as a subsea facility.
A subsea template for Eirin is under construction in Egersund and is set for installation in summer 2024.
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By GlobalDataThe development concept for Eirin includes a subsea template tied back to the Gina Krog platform by a production pipeline and umbilical cable.
The volumes from Eirin will be processed at Gina Krog, with condensate exported to Sleipner A via a new pipeline currently under construction.
Equinor said the gas will be transported to Sleipner A for further processing, with sales gas exported via Gassled to the market.
Unstabilised condensate will be sent to the Kårstø terminal.
With the electrification of Gina Krog and partial electrification of Sleipner, the production from Eirin and Gina Krog is expected to have low emissions, estimated at 3kg of CO₂ per barrel of oil equivalent.
Production licence PL 1201, awarded in this year’s Awards in Predefined Areas, could utilise Eirin’s infrastructure for any future discoveries, potentially tying them back to the Gina Krog platform.
Equinor senior vice-president for late-life fields Camilla Salthe said: “Balanced partnerships will make it easier to coordinate decisions in the licences to optimise production and enhance value creation from the area.
“Together with the electrification of the platform, the Eirin development will extend the lifetime of the Gina Krog field, which supplies gas to Europe with low emissions from production and transport.”
The economic effective date for the transfers is 1 January 2024, with the deal’s closure subject to ministry approval.
Last month, Equinor and its partners committed to a Nkr12bn ($1.13bn) investment in the North Sea Troll gas field to boost production.
