Equinor Set to Acquire Shell’s Stake and Operatorship in the Linnorm Gas Discovery, Norwegian Sea

Equinor has reached an agreement to take over Shell’s equity and operatorship in the Linnorm gas discovery located in the Norwegian Sea. As per the agreement, Equinor will acquire a 30% interest in the PL 255 license, which encompasses the Linnorm discovery, contingent on assuming operatorship from A/S Norske Shell. The transaction is anticipated to be finalized in the first quarter of 2024. Discovered in 2005, the Linnorm discovery is the largest undeveloped gas find in the Norwegian Continental Shelf (NCS). It is estimated to hold approximately 25-30 billion cubic meters (bcm) of recoverable gas resources.

To put this into perspective, the volume of gas in Linnorm surpasses the remaining reserves in each of the currently producing fields of Aasta Hansteen, Martin Linge, and Gina Krog. Following the acquisition, Equinor plans to continue exploring options for connecting Linnorm to its existing installations in the region, specifically the Kristin or Åsgard B facilities, which are operated by Equinor.