Norway’s €825m gas expansion

NORWAY’S largest oil and gas firm will invest €825million to further develop an offshore oil and gas field beyond 2050 to strengthen the country’s ability to supply Europe with gas.

Margareth Oevrum, vice-president of Equinor, formerly Statoil, called it ‘one of the most profitable and robust projects in the company’s history’.

She said the new development phase of the Troll field in the North Sea would yield 2.2billion barrels of oil – equivalent with a break-even cost of less than $10 per barrel.