Equinor will gain access to attractive acreage in the North Sea, the Norwegian Sea and the Barents Sea, strengthening the foundation for the company's exploration activity, production and long-term value creation on the Norwegian continental shelf (NCS).
Twenty-one of the awards are located in the North Sea, ten in the Norwegian Sea, and four in the Barents Sea, 17 of the licences with Equinor as an operator.
“We are very pleased with the APA round, which facilitates our plans for a continued high level of activity within exploration. A strong year has been completed with 14 discoveries in 2025, 7 of them Equinor operated. This amounts to approximately 125 million barrels of new recoverable oil equivalent, with a potential for even more,” says Jez Averty, Equinor’s senior vice president for subsurface, the Norwegian continental shelf.
The licenses are awarded within areas with existing infrastructure and new areas.
“Our geological knowledge is high, and we are constantly learning more through further exploration. Awards in lesser-known areas, such as we have received in the northeastern part of the North Sea and in the southwestern Møre Basin, provide new and exciting opportunities,” says Averty.
Equinor plans to drill 20-30 exploration wells annually. 80 percent of the exploration will be near existing infrastructure, while 20 percent will explore new concepts and lesser-known areas.
Discovery and maturation of new resources are necessary for Equinor to develop 6-8 new subsea developments each year until 2035. This is a significant increase from the current level.
As Europe's largest energy provider, Equinor plays a key role in European energy security and energy transition.
“Access to new acreage is crucial for our ambition to maintain a high level of production and predictable energy deliveries to Europe from the NCS towards 2035. There is still a lot of energy left on the NCS, but we need new discoveries to curb the expected production decline. Phasing in oil and gas from new discoveries to existing infrastructure is a core task going forward,” Averty concludes.
