Equinor (EQNR) and its partners have selected the development concept for the Ringvei Vest project in the Norwegian North Sea, which is expected to contribute about 240 million barrels of oil equivalent, the company said Thursday.

The project will pave the way for a potential joint development of seven discoveries and one prospect to the existing Troll B platform through a subsea development, the company said.

Ringvei Vest is one of the largest early-phase projects on the Norwegian continental shelf, Equinor said.

The development plan includes 13 wells across six templates, with production routed to Troll B for processing and export, the company said.

Equinor also said the project is designed to develop smaller discoveries near existing infrastructure and support long-term production from the Norwegian continental shelf.

A decision on whether to advance the project is expected by the end of 2026.

Shares of Equinor were down 2.8% in Thursday premarket trading.