Core Insights - Equinor ASA (EQNR) and partners are investing over NOK 21 billion (~$2 billion) in the Fram Sør subsea oil and gas project, enhancing Europe's energy security through increased production from the Norwegian Continental Shelf (NCS) [1][10][11] Investment and Production Details - The Fram Sør project is expected to recover approximately 116 million barrels of oil equivalent, with 75% being oil, and production is slated to begin by the end of 2029 [2][10] - The project consolidates several discoveries in the Troll-Fram area, including Echino South and Blasto, ensuring robust profitability and efficient use of existing infrastructure [3] Environmental Impact - Fram Sør boasts an ultra-low carbon footprint, with CO2 intensity estimated at just 0.5 kg per barrel of oil equivalent, significantly lower than the NCS average of 8 kg and the global industry average of 16 kg [4][5] - The project will utilize fully electric subsea Christmas trees, enhancing environmental safety and monitoring [5] Economic Benefits - The project is expected to create approximately 4,500 full-time equivalent jobs during the development phase and generate NOK 18 billion in contracts, primarily awarded to Norwegian suppliers [6][10] Strategic Importance - The project is part of Equinor's broader strategy to mature new resources in the Fram and Troll area, reflecting strong collaboration with partners and authorities [7][11] - Fram Sør is a joint effort by Equinor Energy AS (45%), Vår Energi ASA (40%), and INPEX Idemitsu Norge AS (15%), with all contracts subject to regulatory approval [8]