Equinor has submitted the Verdande development and operation plan to the Ministry of Petroleum and Energy. This project is designed to ensure higher oil production on the Norne vessel.
The Verdande project for oil in the Norwegian Sea
The Verdande project is a subsea development project to secure large volumes of oil to the Norne production vessel. It will be operational from the fourth quarter of 2025. Equinor is the main owner of the Verdande license with 59.3% of the shares.
Verdande will make use of the Cape Vulture and Alve North-East discoveries, located in the Norwegian Sea. These are located at depths between 350 and 380 meters. Discovered in 2017 and 2020, they are estimated to contain 36.3 million barrels of recoverable oil equivalent.
The development of Verdande is based on a proven technology, resulting from similar satellite developments on the Norne field. Verdande consists of a subsea jig connected to the Norne vessel by a new casing.
According to Equinor’s vice president for exploration and production in the north, Verdande will allow good use of the Norne’s excess capacity.
The benefits of the project
According to the promoters of this oil exploitation project in the Norwegian Sea, Verdande will have important local and regional benefits.
In terms of employment, Verdande’s development should lead to the creation of 1,300 jobs at the national level. These creations will take place over three years during the development period from 2023 to 2025.
In addition, Equinor conducted a study on the ripple effect of the project. It is clear that Verdande will be a socio-economically profitable and viable project. It will also help improve the energy efficiency of the Norne ship.
In addition, this project will contribute to meeting the energy demand of European customers. This is a crucial point in the current context, especially with the European sanctions on Russian oil.
