Equinor was awarded 20 licences in the North Sea, six in the Norwegian Sea and one in the Barents sea. Equinor is the operator of seven of the licences and a partner in 20.
"There are still substantial resources on the Norwegian continental shelf (NCS). Together with our partners, we need to explore more to contribute to European energy security and maintain our position as a reliable supplier of oil and gas. The annual award of pre-defined areas is crucial to ensure high export levels over time. We will continue to make robust investments, and our ambition is to drill around 250 exploration wells by 2035. In order to do this, we need regular access to acreage," says Jez Averty, Equinor's senior vice president for subsurface, the Norwegian continental shelf.
Equinor operates 35 offshore platforms that together make up an extensive network of amortised production, processing and export infrastructure. Discoveries in areas with existing infrastructure can be developed rapidly, at lower costs, and with lower greenhouse gas emissions from production and transport.
"We have a significant portfolio of smaller discoveries near existing infrastructure. We're working alongside the supplier industry to accelerate developments and reduce costs, which will ensure that several of these discoveries can come on stream even earlier. One good example is Eirin, which will be tied back to Gina Krog. This development was approved in January 2024, and we expect production to start in the end of 2025. The gas from Eirin will have very low production emissions, since the Gina Krog platform is electrified. Moreover, it will extend Gina Krog's lifetime by seven years," Averty continues.
As regards discoveries that require new development solutions, Equinor will prioritise solutions that yield low emissions.
"Despite most exploration wells being drilled near existing infrastructure, it is important that we also explore new areas and new ideas and concepts with the potential for more major discoveries. Our confidence in the Norwegian shelf remains strong and we are prepared to take steps to secure the future energy supply," Averty concludes.
