Equinor strengthens its position in the northern North Sea
Equinor has signed an
agreement to acquire equity interest in five discoveries in the Troll,
Fram and Kvitebjørn area in the North Sea on the Norwegian continental
shelf (NCS) from Wellesley Petroleum AS. Since 2019, Equinor has made seven
discoveries in this area.
The transaction adds to Equinor’s equity share in the following discoveries:
An additional 18.8% in Grosbeak, 45% in Toppand, 40% in Atlantis and 20%
in Røver Nord and Røver Sør.
"With this transaction, we strengthen our position in one of our
core areas on the Norwegian continental shelf. These discoveries can be
put into production with low costs and low CO2 emissions by being
connected to the suitable infrastructure in the area. Discoveries close
to infrastructure are important for our ambition to maintain production
at current levels from the NCS beyond 2030,” says Kjetil Hove, executive
vice president for Exploration and Production Norway.
Although a mature part of the Norwegian continental shelf, the Troll and
Fram area has emerged as an exploration hotspot over the last years, and
Equinor has made a number of discoveries in this area, including Swisher,
Toppand and Røver Nord and Sør.
Equinor has started field developments projects to coordinate the development
of these discoveries in collaboration with partners.