Norway’s Equinor will lead production in the North Sea over the coming seven years a new report by GlobalData has discovered.
The report that focused on the North Sea area including the UK, Norway, Denmark and the Netherlands found Equinor will be leading a number of big projects due to come online between 2018 and 2025.
Jonathan Markham, upstream analyst for GlobalData, said: “Equinor are expected to have the most production coming online from new projects in the area over the next few years, increasing its total production from the North Sea to over 1.1 million barrels of oil equivalent per day (boe/d) by 2023 and extending its already considerable lead in production from the North Sea.”
The Norwegian energy giant has outlined its plans for the Mariner project later this year and recently acquired Rosebank field west of Shetland, which is one of the largest undeveloped areas within the region.
Markham said: “Mariner, Verbier and the UK portion of Utgard in the North Sea are forecast to add around 85,000 boe/d to Equinor’s production by 2023.
“Rosebank in West of Shetlands has not been included in this report as the transaction is not completed yet, but would be expected to add an additional 40,000 boe/d by 2025.”
The Johan Sverdrup development was also noted as a key asset for Equinor, once complete.
He added: “The major contributor to Equinor’s production will be Johan Sverdrup in the North Sea, which is forecast to provide over 40% of the production from new projects, peaking at nearly 270,000 boe/d for Equinor’s stake in the development.”