Equinor and Partners Submitting Plan for the Record-breaking Troll Project
Tuesday 3 July 2018
Equinor and the partners in the Troll licence submit the plan for further development of the gigantic Troll field on the Norwegian continental shelf (NCS) to the Ministry of Petroleum and Energy.
The capital expenditures for the project are estimated at NOK 7.8 billion, helping extend the productive life of the Troll field beyond 2050.
The expected future value creation from Troll is estimated at NOK 1,650 billion.
A large share of the Troll cashflow goes to the Norwegian State through taxes, and the State’s direct financial interests. The Troll field has thus added more than NOK 1,000 billion to the State revenues.
Gas to Europe
The annual export volume from Troll is estimated to 8 % of EU’s gas consumption.
The gas is produced on the Troll A platform, which is electrified. The production therefore generates very low CO2 emissions. The gas is piped to Kollsnes, where it is cleaned, dried and compressed before being transported to Europe in the Zeepipe pipelines.
The development of the Troll field has also been important to the development of the oil and gas industry, particularly in Norway. The development of Troll Phase 3 will have a very high Norwegian content, estimated at approximately 70%.
Equinor will today sign contracts within marine installations and subsea facilities worth a total of approximately NOK 750 million with the companies Allseas, Nexans and Deep Ocean.
Earlier this year the partnership awarded contracts for subsea facilities and the construction of a new processing module on the Troll A platform to Aker Solutions.