Green Light to Uniquely Profitable Project

Friday 7 December 2018

The Ministry of Petroleum and Energy has approved the plan for development and operation (PDO) of the Troll Phase 3 development. Capital expenditures of NOK 7.8 billion will help extend the productive life of the Troll field beyond 2050.

A unique oil and gas field globally Troll generates highly important to value for the Norwegian society. Since it came on stream in 1995 the field has generated an estimated NOK 1400 billion, i.e. NOK 175 million per day.

The development of Troll phase 3 is also important for Norwegian supply industry. About 70 % of the value creation will take place in Norway.

The partnership has awarded contracts within marine installations and subsea facilities totalling an estimated NOK 950 million to the companies Nexans, Deep Ocean, IKM, Allseas and Marubeni. In addition, the partnership has awarded contracts worth approximately NOK 2 billion for subsea facilities and the construction of a new processing module on the Troll A platform to Aker Solutions.

Troll partners: Equinor (30.58% - operator), Petoro (56%), Norske Shell (8.10%), Total E&P Norge (3.69%), ConocoPhillips Skandinavia (1.62%)

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