Final Investment Decision for Sparta in the US Gulf of Mexico
Equinor and its operating co-owner, Shell Offshore Inc., a subsidiary of Shell plc, have reached the final investment decision for the Sparta deepwater development, located in the US Gulf of Mexico (GOM). Equinor holds a 49 percent interest in the field.
With a designed capacity of 100,000 barrels of oil equivalent per day (boe/d) at peak, Sparta is expected to begin production in 2028. Expected ultimate recoverable resources are currently estimated at above 250 million barrels.
The development plan includes eight production wells tied back to a semi-submersible floating production unit. The Sparta platform is a replication of the Shell-operated Vito project (Equinor 36.89% partner) and Whale project, enabling a standardized and cost-efficient design approach.
“We are pleased to reach this important milestone and advance the Sparta development together with Shell,” says Philippe Mathieu, executive vice president for Exploration and Production International.
“Sparta marks the third final investment decision in our international upstream business this year, underlining our commitment to invest in long-term reliable energy supply. The US is a core area for our international business, where we continue to create significant value with good carbon efficiency.”
Sparta will serve as a new hub in a key producing region that delivers some of Equinor’s most valuable barrels with a relatively low average intensity of carbon emissions. The platform will feature all-electric compression equipment, allowing for significantly reduced emissions intensity from production.
Equinor delivered 149,000 barrels of oil equivalent per day in Q3 2023 from 10 producing assets in the US Gulf of Mexico, and continues to seek new opportunities as part of a growing US portfolio that includes offshore wind and low carbon solutions projects.