Equinor will drill 3,000 new oil wells

Equinor's headquartersEquinor's headquarters at Fornebu in Bærum.Photo: Tor Erik Schrøder / NTB scanpix

Equinor must have more exploration and production wells in order to maintain production.Therefore, the company will drill 3,000 wells over the next ten years.

 

That is almost as many wells as the company has drilled since its inception nearly 50 years ago.

After 2030, the Norwegian continental shelf is transitioning to a more mature phase.

It makes it necessary to take measures that address declining production from the big fields,wrote Equinor in a message on Tuesday.

“The Norwegian continental shelf still has great potential, but ensuring value creation and thousands of jobs for decades to come will not be an easy task. We are talking about more major changes than ever before. It is necessary to become a broad energy company,” said Arne Sigve Nylund, Executive Vice President for Development and Production Norway.

He said Equinor, in addition to several wells, will prolong the life of over 20 installations and drill 20-30 exploration wells annually, and actively look for gas.

Even today, the fields of Equinor on the Norwegian shelf produce two to three times longer than was assumed at start-up.

 

© NTB scanpix / #Norway Today

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