Equinor has agreed to acquire Sval Energi’s 11.8% share in the Halten East project, the Norwegian company announced Nov. 7. This acquisition increases Equinor’s ownership in the development to 69.5%.
Approved in May 2022 and on track to start production in 2025, Halten East is an ongoing offshore development located in the Kristin-Åsgård area in the Norwegian Sea.
The development consists of six gas discoveries and three prospects, which will use the existing infrastructure and processing capacity at the Åsgard B platform. The project’s recoverable reserves are estimated to be around 100 MMboe, with 60% being gas that will be exported to Europe via the Kårstø processing plant.
The first phase of the project, which will be carried out between 2024 and 2025, will consist of drilling six wells for five discoveries. The second phase, which will begin in 2029, includes a sidetract to one discovery and three optional wells for the prospects.
Equinor is the owner and operator of the Halten East, with Vaar Energi holds 24.6% and Norway’s Petoro holding the remaining 5.9%.