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Equinor, Partners Agree on Concept for Massive Ringvei Vest Project in North Sea

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Equinor (EQNR) and its partners have agreed on a subsea development concept for the Ringvei Vest project in the Norwegian North Sea, the company said on Thursday.

The tie-back to the Troll B platform holds an estimated 240 million barrels of oil equivalent, marking one of the shelf's largest early-phase developments, it stated.

The project scope encompasses drilling 13 wells across six subsea templates. The asset mix includes the Grosbeak, Swisher, Mulder, Kveikje, Toppand, Rover Sor, and Rover Nord discoveries, alongside the Gronngylt prospect, it said.

From the Troll B hub, produced crude will be piped to the Mongstad refinery, while natural gas will stream to the Kollsnes processing plant, the company noted.

Equinor said that while a decision on continuation is slated for the end of the year, definitive timelines for the final investment decision, the plan for development and operations and the start of production are not yet finalized.

"Equinor aims to increase our equity production from the Norwegian Continental Shelf to 1.3 million barrels per day in 2035," Kjetil Hove, Equinor's Executive Vice President for Exploration and Production Norway, said.

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