Equinor divests interests in the Gina Krog area

Equinor is selling 19.5% interests in production licenses PL 048E, which is the Eirin field, and PL 1201 to PGNiG Upstream Norway AS (PGNiG). With this, the ownership between Equinor and PGNiG in these licenses will be balanced with the Gina Krog field.
The plan for development and operation (PDO) for Eirin was approved in January 2024, and the field will be developed as a subsea facility tied back to the Gina Krog platform. The subsea template is under construction in Egersund and is scheduled for installation in the summer of 2024.

"Balanced partnerships will make it easier to coordinate decisions in the licences to optimise production and enhance value creation from the area. Together with the electrification of the platform, the Eirin development will extend the lifetime of the Gina Krog field, which supplies gas to Europe with low emissions from production and transport," says Camilla Salthe, Equinor's senior vice president for late-life fields.
Production licence PL 1201 was awarded in this year's Awards in Predefined Areas (APA). Any discoveries in this licence could make use of Eirin's infrastructure and be tied back to the Gina Krog platform. The economic effective date for the transfers is 1 January 2024. Closing of the transaction is conditional upon ministry approval.
Latest news
Equinor first quarter 2025 results
Equinor delivered adjusted operating income* of USD 8.65 billion and USD 2.25 billion after tax in the first quarter of 2025. Equinor reported net operating income of USD 8.87 billion and net income at USD 2.63 billion. Adjusted net income* was USD 1.79 billion, leading to adjusted earnings per share* of USD 0.66.
Equinor to commence second tranche of the 2025 share buy-back programme
Equinor (OSE: EQNR, NYSE: EQNR) will after the annual general meeting 14 May 2025 commence the second tranche of up to USD 1,265 million of the share buy-back programme for 2025, as announced in relation with the first quarter results 30 April 2025.
Key information relating to cash dividend for first quarter 2025
Key information relating to the cash dividend to be paid by Equinor for first quarter 2025.