Halten East is an offshore development in the Kristin-Åsgård area of the Norwegian Sea, which includes six gas discoveries and three prospects. The development will leverage existing infrastructure and processing capacity at Åsgard B.
The recoverable reserves in the Halten East project are estimated at around 100 million barrels of oil equivalents, with approximately 60% of this being gas, which will be exported to Europe via Kårstø.
“This acquisition is in line with Equinor’s strategy to optimise our portfolio on the Norwegian continental shelf, ensuring long-term value creation,” said Grete Birgitte Haaland, Senior Vice President for Exploration and Production North. "Halten East is a key project, offering strong profitability and low emissions in a core area for Equinor."
The development of Halten East will be completed in two phases. The first phase (2024-25) involves drilling six wells for five discoveries, while the second phase (2029) includes further drilling for one discovery and additional optional wells for other prospects. The Halten East Unit was approved in May 2022 and is expected to begin production next year.
The transaction is subject to regulatory approvals, with an effective date of January 1, 2024.