Equinor obtains five new exploration licenses for UK Shelf

The Oil and Gas Authority has granted Norwegian oil major Equinor five new licenses for exploration on the UK Continental Shelf, which is a major market for the oil company. 

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. Additionally, Equinor was also awarded an extension to the Frigg License in the Northern North Sea supporting the Frigg redevelopment project.

“We are pleased to have been awarded these licences in the 31st Offshore Licensing round,” comments Nick Ashton, senior vice president for exploration in Norway and the UK.

“These awards are important in continuing our high level of exploration activity on the UK Continental Shelf , in support of our ambition to be a leading energy provider to the UK,” he added.

Largest supplier

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

The Norwegain oil major is the UK’s largest supplier of crude oil and natural gas. Equinor’s gas supplies meet more than 25% of UK demand, enough to heat or power 8 million British homes and businesses every year, the company states. It is also developing the Mariner project, one of the largest upstream investments in the UK in the last 10 years with a value of more than 4.5 billion pounds.

The outlook for the oil & gas industry will be one of the key topics of the Project Cargo Summit, a two-day international conference about the transport of large and heavy cargoes, which is organised by Promedia Group on the 11th & 12th of September, 2019 in Rotterdam. For more information about this dedicated project cargo and heavy-lift event, please visit www.projectcargosummit.com.

Author: Tobias Pieffers

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