Equinor awarded five new licences on the UK Continental Shelf

Source: press release, 4 June 2019

The OGA has awarded Equinor five licenses in the the 31st Offshore Licensing round
The OGA has awarded Equinor five licenses in the the 31st Offshore Licensing round (illustration: Equinor)

Equinor has been awarded five licences by the Oil and Gas Authority (OGA) – four as operator and one as partner.

“We are pleased to have been awarded these licences in the 31st Offshore Licensing round. These awards in this frontier licensing round are important in continuing our high level of exploration activity on the UK Continental Shelf (UKCS), in support of our ambition to be a leading energy provider to the UK,” says Nick Ashton, senior vice president for exploration in Norway and UK.

The licences are situated in the Moray Firth and East Shetland Platform, expanding upon Equinor’s current position in these areas of the North Sea. Equinor was also awarded an extension to the Frigg License in the Northern North Sea supporting the Frigg redevelopment project. The license awards include commitments for seismic surveys in several areas on the East Shetland Platform and the Moray Firth.

“The UK Offshore Licensing rounds enable us to add new opportunities to our exploration portfolio in a prolific basin, in line with our strategy to unlock the remaining potential in both underexplored and more mature areas. We believe in continued value creation on the UKCS through new discoveries and look forward to our fifth exploration well in 2019, Lifjellet, to be drilled later this year,” says Ashton.

Equinor is one of the most active explorers in the UK. Last year, in May 2018, Equinor was awarded nine new licences in the 30th Offshore Licensing round, eight as operator.