Norway’s Equinor Secures Drilling Permit for North Sea Exploration Wells

Norway’s state-owned energy giant Equinor has secured a drilling permit for two exploration wells in the Norwegian sector of the North Sea. The wells, designated as 34/8-20 S and 34/8-20 A, are part of production license 554 E, which was awarded on February 17, 2023, and is valid until 2030.

Equinor holds a 40% stake in the license and operates it, with Vår Energi and Aker BP as partners, each holding a 30% interest. The drilling of the wildcat wells is scheduled to commence in August 2025 and will be carried out using the COSL Innovator drilling rig.

The COSL Innovator rig, owned by COSL Drilling Europe, was selected by Equinor in August 2023 for a two-year contract starting in the second quarter of 2025, with options for extension up to three additional years. This semi-submersible rig, built in 2012, is capable of operating in water depths of up to 750 meters.

With the upcoming drilling activity in the North Sea, Norway is poised to see increased oil and gas exploration efforts. The recent addition of new blocks in the APA 2025 round reflects the country’s commitment to expanding its energy resources through exploration and development.