Equinor and its partners have agreed on a development concept for the Ringvei Vest project in the Norwegian North Sea, advancing plans for a large subsea tieback development that could recover an estimated 240 million barrels of oil equivalent.
The project will combine seven discoveries and one prospect into a common development linked to the Troll B platform, one of Norway's key offshore production hubs.
The resources included in Ringvei Vest comprise the Grosbeak, Swisher, Mulder, Kveikje, Toppand, Røver Sør and Røver Nord discoveries, as well as the Grønngylt prospect. The assets are spread across eight licences involving seven different owners.
“We estimate that Ringvei Vest will contribute 240 million barrels of oil equivalent. A solid effort has been put in over a long period, and I am confident that together with partners and authorities, we have arrived at the best development solution, which also ensures optimal resource utilisation,” said Kjetil Hove, executive vice president for exploration and production Norway at Equinor.
Equinor, which operates all licenses included in the project, evaluated a range of development alternatives before selecting a common solution centered on existing Troll infrastructure.
The proposed development includes six subsea templates and 13 wells. Production streams will be separated on the seabed before being transported to the Troll B platform, which will also supply power to the subsea facilities.
Oil produced from Ringvei Vest would be transported to Mongstad, while gas would be sent to Kollsnes. Plans also include installing a new compressor on Troll B to increase processing capacity.
“The Norwegian Continental Shelf is maturing, new discoveries are smaller and costs are increasing. To maintain a high activity level and reliable energy supplies to Europe, it is important to develop marginal discoveries near existing infrastructure and collaborate across licenses. Equinor aims to increase our equity production from the Norwegian Continental Shelf to 1.3 million barrels per day in 2035,” added Hove.
The company described Ringvei Vest as one of the largest projects currently in the early development phase on the Norwegian Continental Shelf.
Equinor said it was too early to disclose expected investment costs. A decision on whether to proceed with the project is planned by the end of 2026, while timelines for a final investment decision, submission of a development plan and start-up of production have yet to be determined.