Equinor takes Stake in Wellesley O&G Finds

The Troll A platform in the North Sea. (Photo: Harald Pettersen / Equinor)
The Troll A platform in the North Sea. (Photo: Harald Pettersen / Equinor)

Equinor agreed to buy oil and gas stakes in five discoveries in the Troll, Fram and Kvitebjoern areas of the North Sea from Wellesley Petroleum AS.The amount for the purchase was undisclosed

The transaction strengthens Equinor's position in a core area on the Norwegian continental shelf (NCS) that has emerged as an "exploration hotspot" in recent years, the company said in a statement.

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

Equinor’s ownership before and after transaction:

  • Atlantis – license PL878/878B/878C
    Before: 40% – After: 80%
  • Grosbeak – license PL248I
    Before: 40% – After: 55%
  • Grosbeak – license PL925
    Before: 40% – After: 85%
  • Røver Nord/Sør – license PL923/PL923B
    Before: 40% – After: 60%
  • Toppand – license PL630/PL630CS
    Before: 50% – After: 95%

(Reuters & OE)

Current News

Seatrium Names Adrian Teng CFO

Seatrium Names Adrian Teng CFO

Governments Take Action to Keep Offshore Wind Projects on Track

Governments Take Action to Kee

Iberdrola and Masdar to Invest $16 Billion in Green Energy

Iberdrola and Masdar to Invest

Exxon's CEO Sets Ambitious Agenda on Tight Timeline

Exxon's CEO Sets Ambitious Age

Subscribe for OE Digital E‑News

Offshore Engineer Magazine