Equinor ASA has started production from its Snorre oilfield expansion project ahead of time and below budget, the Norwegian energy major said on Dec. 14.

The project aiming to add almost 200 million barrels of recoverable oil reserves from the North Sea field was originally scheduled to come on stream in the first quarter of 2021.

Investments in the Snorre Expansion Project, designed to extend the field's lifetime through 2040, amount to 19.5 billion Norwegian crowns (US$2.24 billion), approximately 1 billion crowns less than originally planned, the company said.

Equinor's partners in the field are Petoro AS, Eni SpA's subsidiary Vaar Energi AS, Idemitsu Kosan Co. Ltd. and Wintershall Dea GmbH. (US$1 = 8.7114 Norwegian crowns)

Offshore