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Equinor awarded 26 new production licences on the Norwegian continental shelf (NCS)

Around 80 percent of the exploration wells will be drilled in known, mature areas.

Equinor awarded 26 new production licences on the Norwegian continental shelf (NCS)

Source: Equinor

Moscow, January 10 - Neftegaz.RU. Equinor has been awarded 26 new production licences by the Ministry of Petroleum and Energy (MPE) in the 2022 Award in Predefined Areas (APA) – 18 licences as operator, and eight as partner.

The production licences are divided as follows:

  • 16 in the North Sea,
  • 9 in the Norwegian Sea,
  • 1 in the Barents Sea.

In 2023 the company plans to participate in 25 exploration wells, most of them around existing infrastructure.

Jez Avery, Equinor’s senior vice president for subsurface in Exploration & Production Norway said:
  • Around 80 percent of the exploration wells will be drilled in known, mature areas.
  • Discoveries near existing infrastructure require less volume to be commercially developed, and can be quickly put on stream and with low CO2.
  • We thus maximize the value creation from existing infrastructure that has been developed over a long period on the NCS.
  • Exploration is essential to our ambition to transform the NCS from and oil and gas province to a broad energy province.
  • New gas volumes will be key to enabling the development of new value chains for hydrogen for Europe

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