Equinor awards contracts, gets licences

STAVANGER, June 18, 2018 – Equinor has awarded NOK 30 billion (USD 3.67 billion) worth of contracts to Baker Hughes, Halliburton and Schlumberger, the Norwegian major announced on Monday.

In a separate press release, the company said it had been offered seven licences in Norway’s 24th licensing round, in five of which it will be operator while in the remaining two it would hold a partner position.

 

The licences are located on Norwegian continental shelf, where the contracts awarded to the US companies are to be executed as well.

“This award is in line with Equinor’s exploration strategy, securing us access at scale,” said Nicholas Ashton, Equinor’s head of exploration on the shelf.

“Exploration on the Norwegian continental shelf (NCS) is becoming ever more challenging. It is important to Norway and the companies to map remaining commercial resources both in the Norwegian Sea and the Barents Sea.”