🇳🇴 Equinor awarded 39 new production licences on the Norwegian continental shelf

Equinor was awarded 18 production licences in the North Sea, 13 in the Norwegian Sea, and 8 in the Barents Sea. Equinor is the operator of 14 of the awarded licenses, and a partner in 25.

“We are pleased with the award. These licences give Equinor and our partners new opportunities to further develop the Norwegian continental shelf (NCS) as an energy province. We are familiar with the geology and confident that we will make new discoveries,” says Jez Averty, Equinor’s senior vice president for subsurface, the Norwegian continental shelf.

“Continued active exploration is necessary in order to reduce the production decline that will occur on the NCS. Phasing in oil and gas from new discoveries will secure long-term activity and contribute to energy security in the European and UK energy transition,” Averty says.

In Norway, Equinor is the operator of 35 offshore platforms with low production emissions, and processing and export infrastructures that have largely been paid off. Infrastructure-led discoveries can be rapidly developed, at low cost, and with low greenhouse gas emissions from production and transportation.

“We are modernising the infrastructure on the NCS with an eye to the energy transition. Based on our plans for electrification and continued cuts in our own greenhouse gas emissions, the production from new discoveries in brownfield areas will not increase our production and transportation emissions. For discoveries that will require new development solutions, we will aim at technological solutions with low emissions. Equinor’s energy transition plan, committed to cutting emissions in line with the Paris Agreement, also includes phasing in production from new discoveries,” says Averty.

The authorities increased this year’s round of awards by 92 blocks in the northwest of the Norwegian Sea and west of the Barents Sea.

“Equinor’s Snøhvit Future and Johan Castberg projects are underdevelopment in the North. We now focus on exploration to uncover the potential for gas in the Barents Sea, working closely with Vår Energi and Aker BP to explore as much as possible with good rig utilisation,” adds Averty.

Originally published on 16 January by Equinor.

Announcements are published as a service to readers. The sender is responsible for all content.

Announcements for publication can be submitted to [email protected].