The transaction accelerates development of the 195 million barrel Peon gas discovery while bolstering Equinor’s Troll-Fram area holdings.
Equinor will transfer a 32.5% stake in the Peon gas discovery and operatorship to Vår Energi in exchange for interests in producing assets, including a 5% share in the Fram field. The deal also includes stakes in Grosbeak, Mulder, and Grønngylt prospects, part of the Ringvei Vest development.
Peon holds estimated recoverable resources of 105–195 million barrels of oil equivalent, ranking among the largest undeveloped gas discoveries on the Norwegian Continental Shelf. The development plan involves a tie-back to the Gjøa hub, extending its operational life and supporting regional gas production.
The swap aims to optimize resource development and leverage existing infrastructure, with Peon’s output processed through the Kårstø facility. Equinor highlighted the deal’s role in advancing one of the NCS’s key undeveloped gas assets.