Equinor divests interests in the Gina Krog area, Norway

Equinor is selling 19.5% interests in production licenses PL 048E, which is the Eirin field, and PL 1201 to PGNiG Upstream Norway AS (PGNiG).
With this, the ownership between Equinor and PNGiG in these licenses will be balanced with the Gina Krog field

The plan for development and operation (PDO) for Eirin was approved in January 2024, and the field will be developed as a subsea facility tied back to the Gina Krog platform.

The subsea template is under construction in Egersund and is scheduled for installation in the summer of 2024.

Camilla Salthe, Equinor's senior vice president for late-life fields 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."

Production licence PL 1201 was awarded in this year's Awards in Predefined Areas (APA).

Any discoveries in this licence could make use of Eirin's infrastructure and be tied back to the Gina Krog platform.

The economic effective date for the transfers is 1 January 2024. Closing of the transaction is conditional upon ministry approval.

News.Az