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Equinor Awarded 26 New Production Licenses on Norwegian Continental Shelf

By Dominic Chopping


Norwegian energy major Equinor ASA said Tuesday that it has been awarded 26 new production licenses by Norway's Ministry of Petroleum and Energy, with 12 licenses as operator and 14 licenses as partner.

Of the 26 production licenses, 12 are in the North Sea, 10 in the Norwegian Sea and four in the Barents Sea, it said.

"Exploration is essential to secure continued value creation on the Norwegian continental shelf," said Jez Averty, Equinor's senior vice president for subsurface in exploration & production Norway.

"We continue an active exploration strategy but focus on maximizing value creation over growth and volume. At least 80% of our exploration resources and investments will be concentrated around existing infrastructure - so-called near-field or infrastructure-led exploration," Mr. Averty added.

In 2022, Equinor plans to take part in around 25 exploration wells, mainly near existing infrastructure. Most of the wells will be drilled in the North Sea, some in the Norwegian Sea and a few in the Barents Sea, it said.


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(END) Dow Jones Newswires

January 18, 2022 09:43 ET (14:43 GMT)

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