Equinor ASA has submitted a plan to Norwegian regulators outlining a $14 billion-plus project for the country’s first planned deepwater development to boost long-term natural gas supply to Europe.

Equinor and its partners told regulators they could tap the Irpa gas field in the Vøring Basin deep below the Norwegian Sea. Discovered in 2009 and previously named Asterix, Irpa is estimated to contain 124 million boe in gas and condensate.

Executive Vice President Geir Tungesvik, who oversees Projects, Drilling and Procurement, said “the development of Irpa will contribute to predictable and long-term deliveries of gas to customers in the EU and the UK.”

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