Saturday, May 25, 2024

Equinor Increases Ownership in Linnorm Discovery

December 14, 2023

View from Åsgard A in the Norwegian Sea. (Photo: Ole Jørgen Bratland / Equinor)

Equinor will acquire Shell’s equity in and operatorship of the Linnorm discovery in the Norwegian Sea. Under this agreement, Equinor will acquire a 30% interest in the PL 255 covering the Linnorm discovery, conditional upon taking over the operatorship from A/S Norske Shell. The deal is expected to close during the first quarter of 2024.

The Linnorm discovery in the Norwegian Sea was proven in 2005 and is the largest undeveloped gas discovery on the NCS. Linnorm is estimated to contain around 25-30 billion cubic meters (bcm)of recoverable gas resources. As a comparison, this is more gas than remaining reserves in each of the producing fields Aasta Hansteen, Martin Linge, and Gina Krog.

Equinor will continue to evaluate a tie-back for Linnorm to the Equinor- operated Kristin or Åsgard B installations.

The partners in PL 255 are: A/S Norske Shell 30% (operator until the transaction is completed), Petoro 30%, Equinor Energy 20 %, TotalEnergies EP Norge AS 20%.

Linnorm Discovery Fast Facts

  • 6406/9-1 Linnorm is a discovery in the central part of the Norwegian Sea, 50km northwest of the Draugen field. The water depth is around 300m. The discovery was proven in 2005 and delineated in 2007.
  • The reservoir contains relatively dry gas with high CO2 content. It is a complex and challenging reservoir with high pressure and high temperature (HPHT).
  • The reservoir is in the Ile, Tofte and Tilje Formations of Early to Middle Jurassic age, and has variable quality.

Related News