Equinor adds equity interest in five North Sea discoveries

March 1, 2023

Equinor has agreed to acquire equity interest in five discoveries in the Troll, Fram, and Kvitebjørn area in the North Sea on the Norwegian Continental Shelf from Wellesley Petroleum.

OGJ editors

Equinor has agreed to acquire equity interest in five discoveries in the Troll, Fram, and Kvitebjørn area in the North Sea on the Norwegian Continental Shelf (NCS) from Wellesley Petroleum AS.

The transaction adds to Equinor’s equity share in the following discoveries: An additional 18.8% in Grosbeak, 45% in Toppand, 40% in Atlantis, and 20% in Røver Nord, and Røver Sør.

The discoveries can be put into production with low costs and low CO₂ emissions by being connected to infrastructure in the area, said Kjetil Hove, executive vice-president for exploration and production, Norway.

The Troll and Fram area, while a mature part of the NCS, has become an exploration hotspot, Equinor said, having made discoveries in this area, including Swisher, Toppand, and Røver Nord, and Sør.

Equinor has started field developments projects to coordinate the development of these discoveries in collaboration with partners.

Upon completion, subject to customary government and license approvals and expected in first-half 2023, Equinor’s interest in the discoveries will be: