Equinor awarded 35 new NCS production licenses

Equinor has been awarded 35 new production licenses by the Ministry of Energy in this year’s Awards in Predefined Areas.

Equinor will gain access to attractive acreage in the North Sea, the Norwegian Sea and the Barents Sea, strengthening the foundation for the company’s exploration activity, production and long-term value creation on the Norwegian Continental Shelf (NCS).

Twenty-one of the awards are located in the North Sea, 10 in the Norwegian Sea, and four in the Barents Sea, 17 of the licenses with Equinor as an operator.

Equinor plans to drill 20-30 exploration wells annually. Eighty percent of the exploration will be near existing infrastructure, while 20% will explore new concepts and lesser-known areas.

Discovery and maturation of new resources are necessary for Equinor to develop 6-8 new subsea developments each year until 2035. This is a significant increase from the current level.