Equinor has signed an agreement 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. Since 2019, Equinor has made seven discoveries in this area.

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.

"With this transaction, we strengthen our position in one of our core areas on the Norwegian continental shelf. These discoveries can be put into production with low costs and low CO2 emissions by being connected to the suitable infrastructure in the area. Discoveries close to infrastructure are important for our ambition to maintain production at current levels from the NCS beyond 2030,” says Kjetil Hove, executive vice president for Exploration and Production Norway.

Although a mature part of the Norwegian continental shelf, the Troll and Fram area has emerged as an exploration hotspot over the last years, and Equinor has made a number of 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.

About Equinor

Equinor (OSE:EQNR, NYSE:EQNR), is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re the largest operator in Norway, among the world’s largest offshore operators, and a growing force in renewables. Driven by our Nordic urge to explore beyond the horizon, and our dedication to safety, equality and sustainability, we’re building a global business on our values and the energy needs of the future.

About Wellesley

Wellesley is an oil and gas exploration and development company, based in Norway. Wellesley is backed by Blue Water Energy LLP, a leading private equity investor in the energy transition.

The energy transition needs gas to displace coal and balance renewable generation, as well as the lowest CO2 oil. By exploring for these resources in Norway, Wellesley will help supply clean and secure hydrocarbons to Europe.