Norwegian Continental Shelf

The energy unit of the London-based multinational chemical company is seeking to bolster its ownership of operated offshore assets.

The Norwegian Petroleum Directorate and Equinor have announced the biggest discovery so far this year on the Norwegian Continental Shelf. Three wildcat wells drilled in the Blasto prospect near the Fram field confirmed the find and were then permanently plugged and abandoned.

With its third capacity increase in 2 years of production, the third-largest oil field on the NCS is proving to be a powerhouse for Norway.

Equinor plans to cut its global exploration staff by 30% in the next 3 years and plans to drill 30–40 wells globally this year. Ongoing labor strikes have led to the operator shutting in four of its platforms.

Equinor awarded multimillion-dollar contracts to Aker Solutions and Wood for work on the oil field in the Norwegian Continental Shelf. It said about 70% of the contracts for the development phase is expected to go to Norwegian companies.

Vår Energi is looking to extract another 136 million BOE from the Balder Field. Production is anticipated in 2H 2022.

A new licensing round will open up 136 blocks in the Arctic Barents Sea.

The complete paper describes the overall project execution of the Aasta Hansteen field development on the Norwegian Continental Shelf (NCS) north of the Arctic Circle. It is the deepest field yet developed on the NCS in 1300 m of water.

Equinor has chosen four suppliers for inspection services on all offshore installations on the Norwegian Continental Shelf and onshore plants in Norway. The frame agreements, estimated at $383 million, are scheduled to be signed soon.

With its $4.5-billion acquisition of ExxonMobil’s remaining portfolio on the Norwegian Continental Shelf now official, Var Energi says it hopes to realize its ambitious growth plans.