Petoro, together with the licensees Equinor, Vår Energi and Total Energies, has decided to develop the Kristin Sør field. On June 30, the partners handed over the development plan to State Secretary Tony C. Tiller.
Kristin Sør is an oil and gas development in the Norwegian Sea. An investment decision has been made for the first phase. This includes Kristin Q and Lavrans. These are planned to be developed with subsea templates connected to the Kristin platform.
This decision helps to provide significant value to society and the owners, says CEO of Petoro Kristin Kragseth. - The resources in our portfolio will be utilized in a good way, at the same time as we use existing infrastructure. This provides even better resource deployment and the highest possible value creation. Such developments will be a key part of the future on the Norwegian shelf, says Kragseth.
Kristin Sør has planned to start up in 2024.
About Petoro
Petoro is a state-owned limited company which manages the SDFI in the Norwegian oil and gas sector. These holdings comprise a third of Norway’s oil and gas reserves and associated facilities.
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 Vår Energi
Vår Energi, jointly owned by Eni (69.85%) and by HitecVision (30.15%), represents the next generation oil and gas operators on the Norwegian Continental Shelf (NCS).
We operate fields in the Barents Sea, the Norwegian Sea and the North Sea, and will continue to explore, develop and produce resources and reserves from our portfolio.
About TotalEnergies
TotalEnergies is a broad energy company that produces and markets energies on a global scale: oil and biofuels, natural gas and green gases, renewables and electricity. Our 105,000 employees are committed to energy that is ever more affordable, clean, reliable and accessible to as many people as possible. Active in more than 130 countries, TotalEnergies puts sustainable development in all its dimensions at the heart of its projects and operations to contribute to the well-being of people.