Equinor and partners to invest $2.1 billion in Norway oil, gas field

By Reuters June 26, 2025
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FILE PHOTO: The logo of Equinor is set up at the entrance of a building at Western Europe’s largest liquefied natural gas plant Hammerfest LNG in Hammerfest, Norway, March 14, 2024. REUTERS/Lisi Niesner/File Photo

STOCKHOLM (Reuters) -Equinor and its partners Vaar Energi and Inpex Idemitsu will invest more than 21 billion Norwegian crowns ($2.08 billion) to develop Norway‘s Fram South oil and gas field, the companies said on Thursday.

Production is scheduled to start at the end of 2029, field operator Equinor said in a statement.

“Fram South will contribute to security of energy supply from the Norwegian continental shelf (NCS) to Europe,” said Geir Tungesvik, Equinor’s executive vice president for Projects, Drilling & Procurement.

The project will export oil and gas via Equinor’s existing Troll C platform in the North Sea.

Equinor holds a 45% stake in the field, while Vaar Energi has 40% and Inpex Idemitsu Norge the remaining 15%.

($1 = 10.0849 Norwegian crowns)

(Reporting by Jagoda Darlak, editing by Terje Solsvik)