Equinor and its operating co-owner, Shell Offshore Inc., a subsidiary of Shell plc, have reached the final investment decision for the Sparta deepwater development, located in the US Gulf of Mexico (GOM). Equinor holds a 49 percent interest in the field.

With a designed capacity of 100,000 barrels of oil equivalent per day (boe/d) at peak, Sparta is expected to begin production in 2028. Expected ultimate recoverable resources are currently estimated at above 250 million barrels.

The development plan includes eight production wells tied back to a semi-submersible floating production unit. The Sparta platform is a replication of the Shell-operated Vito project (Equinor 36.89% partner) and Whale project, enabling a standardized and cost-efficient design approach.

"We are pleased to reach this important milestone and advance the Sparta development together with Shell,” says Philippe Mathieu, executive vice president for Exploration and Production International.

“Sparta marks the third final investment decision in our international upstream business this year, underlining our commitment to invest in long-term reliable energy supply. The US is a core area for our international business, where we continue to create significant value with good carbon efficiency.”

Sparta will serve as a new hub in a key producing region that delivers some of Equinor’s most valuable barrels with a relatively low average intensity of carbon emissions. The platform will feature all-electric compression equipment, allowing for significantly reduced emissions intensity from production.

Equinor delivered 149,000 barrels of oil equivalent per day in Q3 2023 from 10 producing assets in the US Gulf of Mexico, and continues to seek new opportunities as part of a growing US portfolio that includes offshore wind and low carbon solutions projects.

Facts about Sparta:
   - Originally discovered in 2012
   - Project located 171 miles (275 kilometers) offshore Louisiana, straddling four blocks if the Garden Banks area of the US Gulf of Mexico
   - Shell Offshore Inc., a subsidiary of Shell plc, is the operator (51.0%) with Equinor (49.0%) as partner.
   - Eight subsea wells tied back to a semi-submersible floating production unit with a designed peak production capacity of 100,000 barrels of oil equivalent per day.
   - Water depth of approximately 4,300 feet (1,310 meters)
   - Reservoir depth of approximately 30,000 feet (9,100 meters)

About Equinor

Equinor (OSE:EQNR, NYSE:EQNR), is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re the largest operator in Norway, among the world’s largest offshore operators, and a growing force in renewables. Driven by our Nordic urge to explore beyond the horizon, and our dedication to safety, equality and sustainability, we’re building a global business on our values and the energy needs of the future.

About Shell plc

Shell plc is incorporated in England and Wales, has its headquarters in London and is listed on the London, Amsterdam, and New York stock exchanges. Shell companies have operations in more than 70 countries and territories with businesses including oil and gas exploration and production; production and marketing of liquefied natural gas and gas to liquids; manufacturing, marketing and shipping of oil products and chemicals and renewable energy projects.