Equinor strengthens position in five North Sea discoveries

March 1, 2023

Equinor has agreed to acquire Wellesley Petroleum’s equity interest in five discoveries in the Norwegian North Sea.

Offshore staff

STAVANGER, Norway — Equinor has agreed to acquire Wellesley Petroleum’s equity interest in five discoveries in the Norwegian North Sea.

All are in the Troll, Fram and Kvitebjørn area; in total, Equinor has made seven discoveries in this region since 2019.

The transaction will give the company an additional 18.8% in Grosbeak, 45% in Toppand, 40% in Atlantis, and 20% in Røver Nord and Røver Sør.

All can be developed at relatively low costs and with low CO₂ emissions, Equinor claimed, via tie-ins to existing offshore infrastructure in the area. Infrastructure-led discoveries can help the company maintain production its fields in Norway at current levels beyond 2030, said Kjetil Hove, executive vice president for E&P Norway.

Equinor has started working on a coordinated development with its partners in the various licenses.

03.01.2023