Equinor estimates capex for Phase 1 at around NOK6.5 billion ($760 million).
The Lavrans and Kristin Q discoveries will be developed via tiebacks to the Kristin semisubmersible production platform.
A new subsea template will be installed at Lavrans, while Kristin Q will be tied into an existing template. Equinor plans four wells at Lavrans and one at Kristin Q.
The Kristin field started gas/condensate production in 2005. While the platform is technically designed to operate until 2034, its service could be extended through 2042.
Production is expected to start in 2024. The gas will be exported through the piping system to the market in Europe. The oil will be transported to the market via the storage vessel Åsgard C.
Equinor expects Phase 1 to deliver 58.2 MMboe.
Equinor is the operator and holds 54.82% interest. Its partners are Petoro AS (22.52%), Vår Energi AS, (16.66%), and TotalEnergies EP Norge AS (6%).