Newsletters | Request Trial | Log in | Advertise | Digital Issue   |   Search
  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search
Related Articles
Norway may have already reached peak oil supply
Castberg may not be enough to offset declines in other fields, while its vastly different quality has far-reaching implications for buyers
Equinor hones its ‘high-grade’ global portfolio
The Norwegian energy company is concentrating its efforts on specific regions and assets that meet strict cost and carbon criteria
Equinor streamlines its offshore strategy
Exploration is providing mixed fortunes for IOCs amid higher costs, prompting firms to look towards M&A and safer plays
Norwegian North Sea proving resilient
Low carbon intensity and sizeable projects such as Johan Castberg coming onstream in late 2024 suggest a robust outlook at least until 2030
North Sea production to see minor boost
Taxation strategies in UK and Norway to continue to play important role for a region in which significant volumes of medium sour have offset the loss of similar quality Russian barrels and balanced the influx of US light sweet grades
Longboat splits attention between Norway and Malaysia
CEO Helge Hammer speaks to Petroleum Economist about the company’s recent activities and its expansion plans
Wintershall eyes Algeria in post-Russia reboot
The German producer is focusing on the North African country as it looks to strengthen its gas portfolio following its exit from Russia, COO Dawn Summers says in an interview with Petroleum Economist
Core areas key for Norwegian APA awards
The winners of new NCS acreage stress synergies with existing portfolios
Norway’s end-2022 PDO race heats up
The number of projects benefitting from tax breaks is set to top 20
Norway ends gas year at four-year high
A September dip fails to dent highest output since 2018
The Oseberg C platform in the North Sea
Norway Equinor
Charles Waine
26 July 2021
Follow @PetroleumEcon
Forward article link
Share PDF with colleagues

Equinor pounces on Grosbeak discovery

Norwegian firm trades offshore acreage for operating role in the field

Private-equity backed Wellesley Petroleum has agreed to an asset swap deal with operator Equinor on the Norwegian continental shelf, reducing its footprint in several licences in exchange for a greater stake in strategic offshore discoveries. Equinor will acquire a 40pc operating stake in three licences: PL090 JS, PL248 I and PL925. The Grosbeak discovery straddles all three, and Wellesley is targeting first oil for 2025. The find is set to miss out on the tax incentives being offered for projects green lit by the end of next year, however. "Grosbeak is unlikely to take FID before the end 2022, although we await the new operator’s schedule," Wellesley CEO Chris Elliott tells Petroleum Econom

Also in this section
Petroleum Economist: May 2025
9 May 2025
The May 2025 issue of Petroleum Economist is out now!
LNG gets political
7 May 2025
From China blocking US LNG to Trump demanding that various countries import more of the fuel, the politicisation of LNG is on the rise
Bad omens for Chinese oil demand
6 May 2025
Sino-US trade tensions could see crude consumption crumble despite recent buying behaviour
India revamps retail fuel business
5 May 2025
The country is seeing a notable increase in petroleum product retail outlets, with private operators gaining market share

Share PDF with colleagues

Rich Text Editor, message-text
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
COPYRIGHT NOTICE: PDF sharing is permitted internally for Petroleum Economist Gold Members only. Usage of this PDF is restricted by <%= If(IsLoggedIn, User.CompanyName, "")%>’s agreement with Petroleum Economist – exceeding the terms of your licence by forwarding outside of the company or placing on any external network is considered a breach of copyright. Such instances are punishable by fines of up to US$1,500 per infringement
Send

Forward article Link

Rich Text Editor, txt-link-message
Editor toolbarsBasic Styles Bold ItalicParagraph Insert/Remove Numbered List Insert/Remove Bulleted List Decrease Indent Increase IndentLinks Link Unlinkabout About CKEditor
Send
Sign Up For Our Newsletter
Project Data
Maps
Podcasts
Social Links
Featured Video
Home
  • About us
  • Subscribe
  • Reaching your audience
  • PE Store
  • Terms and conditions
  • Contact us
  • Privacy statement
  • Cookies
  • Sitemap
All material subject to strictly enforced copyright laws © 2025 The Petroleum Economist Ltd
Cookie Settings
;

Search

  • Upstream
  • Midstream & Downstream
  • Gas & LNG
  • Trading & Markets
  • Corporate & Finance
  • Geopolitics
  • Podcasts
Search