The Norwegian oil and gas company Equinor has filed a plan for development and operation (PDO) for Verdande offshore development in the Norwegian Sea to the Ministry of Petroleum and Energy.
According to Equinor, the subsea development secures important oil volumes for the Norne production vessel. Verdande will be put on stream in the fourth quarter of 2025.
Comprising the Cape Vulture and Alve North-East discoveries, Verdande is located in the Norwegian Sea at water depths of 350-380 meters, around 300 kilometers 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.
The Verdande investments total NOK 4.7 billion (2022-value), or currently around $472,7 million.
“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 1300 full-time equivalents, distributed on three years in the development period from 2023 to 2025,” says Grete Birgitte Haaland, senior vice president for exploration and production north in Equinor.
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.
The development solution consists of a subsea template tied back to the Norne vessel via new tubing. The oil will be lifted by a tanker and the gas will be piped via Åsgard Transport to Kårstø.
Verdande license owners 1are Equinor Energy AS – operator - (59.3 %), Petoro AS (22.4 %), Vår Energi ASA (10.5 %), Aker BP ASA (7.0 %), PGNIG Upstream Norway AS (0.8 %).