Troll Phase 3 Advances, Pending FID
Partners in the giant Troll gas field have exercised an option regarding delivery by Aker Solutions of a new module for the Troll phase 3 project, said operator Equinor (formerly Statoil) May 16. Sanction however will not occur before 3Q2018
The contract – valued at kroner 1bn ($124mn) - covers engineering, procurement, construction and installation (EPCI) of the new processing module on the Troll A platform. The option was contained in a contract for front-end engineering (Feed) awarded to Aker Solutions last September.
Equinor said the 1200-metric ton processing module, to be built in Egersund but designed in Bergen, will be installed on the platform in summer 2020. Troll phase 3 project is due on stream in 2021.
The final contract award, however, is subject to the Troll partnership’s final investment decision (FID) and government approval of Troll Phase 3. Partners plan to take that FID and submit the development plan (PDO) in 3Q2018. The project should extend Troll plateau gas production by about seven years and involves the development of gas reserves from the Troll West structure.
Troll phase 3 will also realise 2.2bn barrels of oil equivalent at a breakeven of less than $10/b and with CO2 intensity of 0.1 kg/boe making it among the most carbon-efficient offshore Norway, said Equinor. It operates Troll with a 30.58% interest; partners are state Petoro 56%, Shell 8.1%, Total 3.69% and ConocoPhillips 1.62%.
Even after 20 years’ production, less than half of Troll’s original 1432.76bn m3 of gas reserves have been produced. (Banner photo is the Troll A platform; Photo credit: Equinor / Harald Pettersen)