Equinor secures 39 production licenses in latest APA round

Offshore staff

STAVANGER — Equinor was awarded 39 new production licenses by the Ministry of Energy in this year's Awards in Predefined Areas (APA) round.

Equinor was awarded 18 production licenses in the North Sea, 13 in the Norwegian Sea, and 8 in the Barents Sea. Equinor is the operator of 14 of the awarded licenses and a partner in 25.

Equinor is the operator of, or participating in, 20-30 exploration wells on the Norwegian Continental Shelf (NCS). About 80% of the company's exploration will be near existing infrastructure and in known geology, and about 20% are new ideas that are being developed based on continuous development of the company's knowledge of the geology offshore.

Jez Averty, Equinor's senior vice president for subsurface, the NCS, said, "Continued active exploration is necessary in order to reduce the production decline that will occur on the NCS. Phasing in oil and gas from new discoveries will secure long-term activity and contribute to energy security in the European and UK energy transition."

In Norway, Equinor is the operator of 35 offshore platforms, and processing and export infrastructures that have largely been paid off.

"We are modernizing the infrastructure on the NCS with an eye to the energy transition," Averty added. "Based on our plans for electrification and continued cuts in our own greenhouse gas emissions, the production from new discoveries in brownfield areas will not increase our production and transportation emissions. For discoveries that will require new development solutions, we will aim at technological solutions with low emissions. Equinor's energy transition plan, committed to cutting emissions in line with the Paris Agreement, also includes phasing in production from new discoveries."

The authorities increased this year's round of awards by 92 blocks in the northwest of the Norwegian Sea and west of the Barents Sea.

"Equinor’s Snøhvit Future and Johan Castberg projects are underdevelopment in the North. We now focus on exploration to uncover the potential for gas in the Barents Sea, working closely with Vår Energi and Aker BP to explore as much as possible with good rig utilisation," Averty concluded.

01.16.2024