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Equinor said on Thursday that the Norwegian Ministry of Petroleum and Energy has approved the development and operation plan
for the company's Snorre expansion project in the North Sea with an investment of NOK 19 billion ($2.
3 billion), Equinor said on Thursday.
The company said the investment will increase oil production at the Snorre field by about 200 million barrels while extending the field's life beyond 2040
.
The field was discovered in 1979 and commissioned in 1992, with an initially estimated production life that could only last from 2011 to 2014
.
To date, 1.
4 billion barrels
of oil have been produced in the field.
Equinor said on Thursday that the Norwegian Ministry of Petroleum and Energy has approved the development and operation plan
for the company's Snorre expansion project in the North Sea with an investment of NOK 19 billion ($2.
3 billion), Equinor said on Thursday.
The company said the investment will increase oil production at the Snorre field by about 200 million barrels while extending the field's life beyond 2040
.
The field was discovered in 1979 and commissioned in 1992, with an initially estimated production life that could only last from 2011 to 2014
.
To date, 1.
4 billion barrels
of oil have been produced in the field.
