Equinor and its Fram partners have announced a major investment exceeding Nkr21 billion ($2.94 billion) in the new Fram Sør subsea development, aiming to bolster energy supply security from the Norwegian Continental Shelf (NCS) to Europe.
The consortium comprises Equinor Energy (45 per cent), Vår Energi (40 per cent), and INPEX Idemitsu Norge (15 per cent). Production is scheduled to commence at the end of 2029.
The Fram Sør project will consolidate several discoveries, including Echino South and Blasto, to export oil and gas via the Troll C platform in the North Sea.
Recoverable volumes are estimated at 116 million barrels of oil equivalent, with 75 per cent oil and 25 per cent gas.
The development and operation plan has been officially submitted to Norway’s Minister of Energy, Terje Aasland.
Geir Tungesvik, Equinor Projects, Drilling & Procurement executive vice-president, said: “The development will put new oil and gas resources on stream by connecting new infrastructure to existing facilities that provide good and robust profitability.
“The project will generate activity for the Norwegian supply industry, with an estimated employment effect of 4,500 full-time equivalents (FTEs) during the development period.”
A technological milestone for the NCS, Fram Sør will implement all-electric Christmas trees, eliminating the need for hydraulic fluid from the platform and improving subsea equipment monitoring.
This innovation is expected to enhance operational efficiency and reduce environmental risks.
The project’s CO₂ intensity is projected at approximately 0.5 kg of CO₂ per barrel of oil equivalent, significantly lower than the NCS average of 8 kg and the industry average of 16 kg per barrel.
Kjetil Hove, Equinor Exploration & Production Norway executive vice-president, highlighted the company’s broader ambitions: “We have a large portfolio of projects that will phase in discoveries to our producing fields. Equinor expects to put more than 50 such projects on stream by 2035.”
The investment is expected to support the Norwegian supply industry throughout both the development and operational phases, with contracts valued at around Nkr18 billion ($2.73 billion) to be awarded, pending regulatory approval.
In related news, Equinor and Shell have established a new company, Adura, described as the “UK North Sea’s largest independent oil and gas producer”.
Formed from the merger of Equinor and Shell’s UK offshore assets, Adura is headquartered in Aberdeen and aims to sustain domestic oil and gas production while ensuring energy security for the UK and beyond.
