Equinor (EQNR) and Partners Greenlight $2B+ North Sea Energy Project

Equinor ASA (NYSE:EQNR) is one of the best high growth stocks. Equinor, alongside its Fram partners, announced on June 26 plans to invest over $2 billion in a new deepwater development in the North Sea. The Fram Sør venture, backed by an investment of more than NOK 21 billion, will merge several offshore discoveries via a tieback to Troll C. Equinor filed its plan of development and operation with Minister Terje Aasland on June 26.

According to Geir Tungesvik, Equinor’s Executive VP for Projects, Drilling, and Procurement:

“Fram Sør will contribute to security of energy supply from the Norwegian continental shelf (NCS) to Europe. The development will put new oil and gas resources on stream by connecting new infrastructure to existing facilities that provide good and robust profitability…”

The development will drive engagement across Norway’s supply chain, generating around 4,500 full-time job positions during its execution. Equipped with fully electric subsea tree systems, the project aims to improve environmental performance and subsea visibility. Recoverable assets are estimated at 116 million barrels of oil equivalent, three-quarters of which is oil, and production is planned for the end of 2029.

Equinor ASA (NYSE:EQNR) is a globally integrated energy company engaged in the exploration, production, and distribution of petroleum and alternative energy sources.

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