The Norwegian energy company Equinor has resumed operations at the Eirin gas field in the North Sea, which had been considered unprofitable for over half a century due to technical limitations. Discovered in 1978, this underwater field has been revitalized thanks to the implementation of modern technologies that allowed for extraction to begin in record time.
This is reported by Finway
Revival of Eirin: a new impetus for Norway’s energy sector
According to Equinor, the reserves at Eirin amount to about 27.6 million barrels of oil equivalent, primarily gas. The extracted resource is transported to Europe via the Gina Krog and Sleipner A platforms located in the North Sea. Connecting the Eirin underwater facility to the Gina Krog platform not only ensures stable gas supplies to European consumers but also extends the operational life of this platform from 2029 to 2036.
“Following Russia’s full-scale invasion of Ukraine, Norwegian gas has gained greater significance, and in 2023, the field’s assessment was revised,” said Equinor.
Strategic importance and investments in the future of energy
The total investment in the Eirin project amounted to 4.5 billion Norwegian kroner, equivalent to about 485 million US dollars. The Sleipner area, through which the extracted gas is exported, remains a key hub for supplying Norwegian fuel to the European market. According to Linda Kadi Hoyland, Senior Vice President of Equinor for late-stage development fields, the implementation of this ambitious project has provided the company with valuable experience in the rapid and cost-effective development of low-profitability fields.
Similar underwater projects will play an important role in the future development of the Norwegian shelf, contributing to value creation and job provision in the industry. From the project’s inception to the start of extraction, only three years have passed, highlighting the effectiveness of modern approaches in Norway’s energy sector.