Equinor ASA’s EQNR Troll field in the North Sea has achieved a milestone, delivering a record-breaking 42.5 billion standard cubic meters (bcm) of natural gas in 2024. This represents an almost 10% rise from its prior peak of 38.8 bcm in 2022, further cementing its position as a key pillar of Europe's energy infrastructure.

Kjetil Hove, Equinor's executive vice president for Exploration & Production Norway, emphasized the importance of this milestone, noting that the Troll field continues to play a vital role in Europe's energy security. He attributed the achievement to decades of dedicated efforts toward efficient and sustainable resource recovery.

The record production stems from a combination of high operational regularity, absence of major turnarounds and infrastructure upgrades. Notable developments include riser replacements on Troll B and a major subsea expansion in 2021, which unlocked the gas cap in the western reservoir.

Since its inception in 1996, the Troll A platform has been the primary contributor to natural gas production on the Norwegian Continental Shelf. This legacy has been bolstered by contributions from the Troll B and C platforms, which transport gas through Troll A to the Kollsnes processing plant.

Equinor has emphasized environmental responsibility alongside production efficiency. Troll A and Kollsnes have been electrified since the beginning of operations, and 2024 saw partial electrification of the Troll B and C platforms. These initiatives resulted in an estimated 90,000-ton (15%) reduction in CO2 emissions for the year.

Additionally, the Kollsnes gas processing plant underwent upgrades in collaboration with Gassco, boosting its capacity from 144.5 million to 156 million standard cubic meters per day. These enhancements have played a pivotal role in setting this year's record production.

The Troll field's consistent output ensures stability for millions of European households and industries. Helge Haugane, Equinor's senior vice president for Gas and Power Trading, emphasized that enhancing gas recovery and expanding export capacity strengthens energy security while providing long-term reliability for European customers.

With contributions from licensees Petoro, Norske Shell, TotalEnergies and ConocoPhillips, the Troll field remains a critical asset in meeting Europe's energy needs while advancing sustainability goals.

EQNR’s Zacks Rank & Key Picks

EQNR currently carries a Zacks Rank #3 (Hold).

Investors interested in the energy sector may look at some better-ranked stocks like TechnipFMC plc FTI, Sunoco LP SUN and Oceaneering International, Inc. OII. While TechnipFMC and Sunoco presently sport a Zacks Rank #1 (Strong Buy) each, Oceaneering carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

TechnipFMC is a leading manufacturer and supplier of products, services and fully integrated technology solutions for the energy industry. It focuses on the subsea segment in offshore basins worldwide. FTI’s growing backlog ensures strong revenue visibility and supports margin improvements.

Sunoco is a leading wholesale motor fuel distributor in the United States, boasting a vast distribution network spanning 40 states. With long-term contracts servicing more than 10,000 convenience stores, it distributes over 10 fuel brands, ensuring a stable revenue stream. Sunoco is poised to benefit from the strategic acquisitions aimed at diversifying its business portfolio.

Oceaneering International delivers integrated technology solutions across all stages of the offshore oilfield lifecycle. With a geographically diverse asset portfolio and a balanced revenue mix between domestic and international operations, the company effectively mitigates risk. As a leading provider of offshore equipment and technology solutions to the energy sector, OII benefits from strong relationships with top-tier customers, ensuring revenue visibility and business stability.

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