Equinor Strengthens its Position in the Northern North Sea
The operator adds equity interests in five discoveries in the region.
Norway’s Equinor 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. 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,” said says Kjetil Hove, executive vice president for exploration and production Norway. “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.”
Although a mature part of the NCS, the Troll and Fram area has emerged as an exploration hotspot over the past years, and Equinor has made several discoveries in this area, including Swisher, Toppand, and Røver Nord and Sør.
Equinor has started to coordinate the development of these discoveries in collaboration with partners. Since 2019, the operator has made seven discoveries in this area.