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EurOil: Equinor, partners sign off on $1.4bn gas field development

Norway’s Equinor and its partners announced this week that they had signed off on a NOK14.8bn ($1.44bn) plan to develop an Arctic gas discovery off the country’s coast.

The discovery, Irpa, will yield around 20bn cubic metres of gas for export to Europe via the Aasta Hansteen platform some 80 km east of the find. Under a water depth of around 1,300 metres, Irpa, formerly known as Asterix, is one of the deepest finds to be developed offshore Norway.

“The Irpa development will use available processing capacity on the Hansteen platform when production gradually declines and at the same time contribute to extending the life of the Hansteen field,” Norway’s energy ministry said in a statement.

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