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
Norway’s Equinor has seen mixed fortunes from its offshore exploration in recent months, exemplifying a trend among IOCs that has seen recent high-profile successes coming alongside failures and setbacks—serving as a reminder that offshore exploration is risky. Domestically, Equinor’s exploration efforts in 2024 include drilling a dry hole at Harden sor, the sixth well to be drilled in production licence (PL) 248C in the Norwegian North Sea. This was followed by the firm delineating the Heisenberg oil and gas discovery in wells 35/10-11 S and A and also proving the presence of oil in the Hummer prospect—the first and second wells drilled in PL 827 SB. “Equinor’s performance in Norway has gen
Also in this section
24 October 2024
Producers in the region see significant gains to be made by boosting output using the infrastructure already in place
23 October 2024
Markets have seen no material disruption from the war so far, but as the fighting goes on it is a matter of when, not if
23 October 2024
Majors in the region are pushing boundaries and could see significant upside, but longer-term risks remain
22 October 2024
Angola is unlikely to meet the official timeline for an IPO of state-owned oil giant Sonangol in 2026