Equinor awarded 17 new production licences on the Norwegian continental shelf

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(Image Courtesy: Equinor)

Equinor has been awarded 17 new production licences by Norway’s Ministry of Petroleum and Energy in the 2020 Award in Predefined Areas (APA) – 10 licences as operator and 7 licences as partner.

Nick Ashton, Senior VP (Exploration Norway), Equinor (Image Courtesy: Ole Jørgen Bratland)

“We are pleased about the awards that will be an important supplement to our exploration portfolio and form the basis for future discoveries to be realized in line with Equinor’s climate roadmap,” says Nick Ashton, Equinor’s senior vice president for exploration Norway.

The MPE announced today that Equinor has been awarded 8 production licences in the North Sea and 9 licences in the Norwegian Sea.

The annual APA rounds are a central part of the NCS success story. Since the authorities introduced the APA rounds at the beginning of the 21st century, several discoveries have been made in mature areas with geology we know and already developed infrastructure.

Due to their location, these resources can often be realised with high profitability and create considerable value for society, and they can be produced with a low carbon footprint per barrel.

At the same time, we are experiencing a rapid technological development. New digital tools trigger more ideas and many new opportunities. Several of Equinor’s exploration wells in the past years are a direct result of this work.

“We are living in very exciting times. Digitalization gives us new insight into the underground and an opportunity to find more oil and gas. At the same time, we are facing ever stricter requirements for CO2 emissions throughout the value chain, from discovery to consumption, and we must succeed in both areas. This is not an easy task, but it is highly rewarding to help solve it,” says Ashton.

Sea News, January 20

Baibhav Mishra
Author: Baibhav Mishra