Equinor completes the 10 percent stake of Ørsted

Equinor and its partners are investing NOK 13 billion in the third phase of Johan Sverdrup, one of the world’s most carbon-efficient oil fields. New subsea infrastructure will increase recovery by 40–50 million barrels of oil equivalent (boe).

Equinor has struck oil in exploration well 7220/7-CD-1H, Drivis Tubåen, on the Johan Castberg field in the Barents Sea.

The name of the UK North Sea’s largest independent oil and gas producer has been revealed today, marking a major milestone in the creation of the new company.