January 17, 2025 [Tank Storage Magazine]- The Ministry of Energy has awarded Equinor 27 new production licences in this year’s awards in Predefined Areas (APA). Equinor was awarded 20 licences in the North Sea, six in the Norwegian Sea and one in the Barents sea. Equinor is the operator of seven of the licences and a partner in 20.

Jez Averty, Equinor’s senior vice president for subsurface, the Norwegian continental shelf says: ‘There are still substantial resources on the Norwegian continental shelf (NCS). Together with our partners, we need to explore more to contribute to European energy security and maintain our position as a reliable supplier of oil and gas. The annual award of pre-defined areas is crucial to ensure high export levels over time. We will continue to make robust investments, and our ambition is to drill around 250 exploration wells by 2035. In order to do this, we need regular access to acreage.’

Equinor operates 35 offshore platforms that together make up an extensive network of amortised production, processing and export infrastructure. Discoveries in areas with existing infrastructure can be developed rapidly, at lower costs, and with lower greenhouse gas emissions from production and transport. As regards discoveries that require new development solutions, Equinor will prioritise solutions that yield low emissions.

Averty concludes: ‘Despite most exploration wells being drilled near existing infrastructure, it is important that we also explore new areas and new ideas and concepts with the potential for more major discoveries. Our confidence in the Norwegian shelf remains strong and we are prepared to take steps to secure the future energy supply.’

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