Equinor Awarded 26 New Production Licenses on Norwegian Continental Shelf
19 January 2022 - 1:58AM
Dow Jones News
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.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
January 18, 2022 09:43 ET (14:43 GMT)
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