Equinor and partners to invest over $2 billion in North Sea project

Norway

STAVANGER, June 26, 2025 – Equinor and its Fram partners will invest more than USD 2 billion in a new subsea development in the North Sea, the company announced on Thursday.

The investment of over NOK 21 billion (USD 2 billion) will fund the Fram Sør project, a development combining several discoveries to be tied back to the Troll C platform. Equinor submitted the plan for development and operation to Minister of Energy Terje Aasland, today.

“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…”Equinor executive vice-president for projects, drilling and procurement Geir Tungesvik said.

The project will generate activity for the Norwegian supply industry, with an estimated employment effect of 4,500 full-time equivalents during the development period.”

The project will utilise all-electric subsea Christmas trees, a first on the NCS, to eliminate hydraulic fluid use and improve subsea monitoring. Recoverable resources are estimated at 116 million boe, 75% of which is oil. Production is scheduled for end-2029.

The total contract value is estimated at about NOK 18 billion (USD 1.7 billion).

Fram Sør is located around 20 kilometres north of Troll C and 120 kilometres northwest of Bergen in approximately 350 metres of water. Twelve wells are planned for start-up, with four additional slots for future use.

Equinor is the operator of Fram Sør with a 45% stake, alongside Vår Energi (40%) and INPEX Idemitsu Norge (15%).

Photo of the Troll C platform in the North Sea courtesy of Equinor