Adds quote, detail in paragraphs 2-5

OSLO, June 19 (Reuters) - Equinor EQNR.OL and its partners will invest just over 4 billion Norwegian crowns ($410 million) in a new subsea development that will increase gas production from Norway's Troll field in the North Sea, the company said on Friday.

The TWIN project was agreed with partners Petoro, Shell SHEL.L, TotalEnergies TTEF.PA and ConocoPhillips and is expected to contribute a total of around 11 billion standard cubic metres of gas from Troll.

The companies have an ambition to start production as early as 2028, said Gunnar Nakken, Equinor's senior vice president for projects and subsea in Norway.

"By simplifying, increasing standardisation and reusing existing infrastructure and equipment, we are reducing costs and enabling faster production, in line with our new ways of working," Nakken said in a statement.

The TWIN project, consisting of two wells in a template and a pipeline connected to existing subsea facilities, is the third step of Troll phase 3, which produces gas from the Troll West reservoir, Equinor said.

($1 = 9.7534 Norwegian crowns)