📋 Tender Overview
The licensees Equinor Petoro Var Energi and Total Energies have decided to expand Kristin Sr. Equinor which is the operator handed over the development plan to Secretary of State Tony C. Tiller.Kristin Sor is an oil and gas development in the Norwegian Sea. An investment decision has been made for the first phase of the development which includes the Kristin Q segment and Lavrans. These are planned to be developed with seabed frames connected to the Kristin platform. The total investments for this phase are estimated at around NOK 6.5 billion and production is scheduled to start in 2024.I am glad that the licensees have found good solutions for the area south of the Kristin platform. The companies have taken active steps to look at the area holistically. It is music to my ears because it makes it possible to achieve even better resource utilization and the highest possible value creation. Such solutions are an important part of the future on the Norwegian shelf says State Secretary Tony C. Tiller.The first phase of Kristin Sr includes a new seabed frame on Lavrans while on Kristin Q an already installed seabed frame will be reused. It is planned to drill four wells on Lavrans and one on Kristin Q. Lavrans has a high value potential but is a complex reservoir with uncertain production properties. The wells at Lavrans are therefore designed with long horizontal production zones.Development of Kristin Sr is about good resource utilization and use of existing infrastructure. The project has good profitability and contributes to employment nationally and regionally Tiller continues.The development is expected to have significant value creation and employment effects in Norway. Kunnskapsparken Bod has conducted a ripple effect study of the first phase of the development. The study shows that the development is expected to provide close to 4000 man-years in the period 2020-2025.The development of Kristin Sr is about ensuring good resource utilization in the area south of the Kristin platform in the Norwegian Sea. Plan for development and operation PDO describes a phased development of several discoveries in the area. Equinor Energy AS is the operator 55 3 per cent and the other licensees are Petoro AS 19.6 per cent Vr Energi AS 19.1 per cent and Total Energies EP Norge AS 6 per cent.The investment decision has been made for phase one which consists of the development of the Kristin Q segment which is part of the Kristin field and the Lavrans discovery. These are planned to be developed with seabed frames connected to the Kristin platform. The total investments for this phase are estimated at around NOK 6.5 billion. Production is expected to start in 2024.The licensees in the area have agreed on a coordinated development with ownership harmonization. This facilitates good resource development in the area which the authorities have been concerned about.Kristin Sr will need significant deliveries of goods and services from Norwegian business and industry. The project will provide new value creation and jobs in Norwegian companies. This is especially true in the development phase.A ripple effect study shows that phase one is expected to provide close to 4000 man-years in the period 2020-2025. Of these 2300 man-years are indirect employment effects in subcontractors and other companies.
