Verdande to secure higher production on the Norne vessel

Source: press release, 6 December 2022

The subsea development secures important oil volumes to the Norne production vessel
The subsea development secures important oil volumes to the Norne production vessel (illustration: Equinor)

Equinor has, on behalf of the partnership, submitted the plan for development and operation (PDO) for Verdande to the Ministry of Petroleum and Energy.

The subsea development secures important oil volumes to the Norne production vessel. Verdande will be put on stream in the fourth quarter of 2025.

“Verdande will provide important local and regional ripple effects. It will also help meet the energy demanded by European customers,” says Geir Tungesvik, Equinor’s executive vice president for Projects, Drilling & Procurement.

Comprising the Cape Vulture and Alve North-East discoveries, Verdande is located in the Norwegian Sea at water depths of 350-380 metres, around 300 kilometres south-west of the city of Bodø in North Norway.

The discoveries were proven in 2017 and 2020 respectively and contain a total of 36.3 million barrels of recoverable oil equivalent.

“Verdande will provide good utilisation of excess capacity on the Norne vessel, and its resources contributes to an economic extended lifespan beyond 2026,” says Grete Birgitte Haaland, senior vice president for exploration and production north in Equinor.

The Verdande investments total NOK 4.7 billion (2022-value).

“According to a ripple effect study carried out by Bodø Science Park the national employment effects of the Verdande development are calculated at close to 1,300 full-time equivalents, distributed on 3 years in the development period from 2023 to 2025,” says Haaland.

Verdande will be operated and maintained as an integrated part of Norne. This includes activities at the supply base in Sandnessjøen, the helicopter base in Brønnøysund and use of local companies in engineering services and fabrication in North Norway.