EnergyWatch

Equinor extracting new oil on old fields

With three new drillings, the Norwegian oil company will be able to almost double the available resources in the Fram field, thus also increasing and utilizing last year's expansion of the nearby Troll C field.

Photo: Øyvind Hagen/Statoil

Norwegian giant Equinor, formerly Statoil, has decided to invest NOK 1.9 billion (USD 230 million) in field expansion of the Fram installation in the Norwegian Sea, announced the company.

The investment will be injected into three new drillings in Fram for the expansion of available oil reserves of approximately 70 million tons of oil equivalents. According to Equinor, this corresponds to a 70 percent increase of field reserves in total. Last year, Equinor and its partners invested NOK 1 billion in a new gas module on Troll C. That investment is the financial justification to now expand Fram. 

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