Equinor and Partners Approve $2 Billion Fram Sør Project

A new oil and gas project in the North Sea has been greenlit by Norwegian oil major Equinor and its Fram partners, which plan to invest NOK 21 billion or USD$2 billion. Equinor Energy owns 45 percent of the Fram Sør project, Vår Energi ASA holds 40 percent and INPEX Idemitsu Norge AS has 15 percent. The plan for development and operations was submitted on Thursday to Norway’s Minister of Energy. The Fram Sør project is a combined development of several discoveries that will export oil and gas via Troll C. The Troll field…