Equinor has entered an agreement to acquire an 11.8% share in the Halten East Unit from Sval Energi, raising its ownership stake to 69.5%. Located in the Kristin-Åsgård area of the Norwegian Sea, Halten East is a promising development encompassing six gas discoveries and three prospects, utilizing existing infrastructure at Åsgard B. The project is estimated to hold about 100 million barrels of recoverable oil equivalents, with around 60% being gas that will be exported to Europe via Kårstø.
The development will proceed in two phases, with initial drilling for five discoveries set for 2024-25 and a second phase in 2029 for further exploration. Production is on track to begin next year, pending regulatory approvals, with the transaction effective from January 1, 2024. This acquisition bolsters Equinor’s strategic position and reinforces its contribution to Europe’s energy supply.
