Equinor Commences Production at Breidablikk Field

Equinor, the Norwegian energy major, announced that production at the Breidablikk field in the North Sea began on Friday, marking a remarkable achievement by starting four months ahead of schedule and remaining within budget.

Originally, according to the plan submitted in September 2020, production from Breidablikk was set to commence in the first half of 2024 after predrilling and completion of five wells. However, the project has surpassed expectations with eight wells already drilled, and additional drilling operations will continue until the end of 2025.

With investments amounting to just over 21 billion Norwegian kroner ($1.91 billion), the field holds an estimated 200 million barrels of recoverable oil.

Kjetil Hove, Equinor’s executive vice president for exploration and production Norway, expressed optimism about the impact of Breidablikk on the market, stating, “At its peak, Breidablikk is expected to contribute 55,000-60,000 barrels of oil daily, predominantly to European markets.”

Equinor operates the field with a 39% share, while partners Var Energi, Petoro, and ConocoPhillips hold shares of 34.4%, 22.2%, and 4.4% respectively.