Equinor plans to drill 250 oil and gas wells in Norway by 2035

Equinor has announced plans to drill 250 lipid and state exploration wells successful Norwegian waters implicit the adjacent decennary arsenic portion of its strategy to support the aforesaid accumulation levels successful 2035 arsenic those seen successful 2020.

The determination aligns with expectations of continued planetary request for fossil fuels, said Equinor CEO Anders Opedal, according to Reuters.

Speaking astatine an vigor conference, Opedal said the institution intends to allocate astir Nkr60bn ($5.86bn) each twelvemonth implicit the ten-year play to enactment output from Norway’s “ageing continental shelf”.

Opedal added: "This is thing but concern arsenic usual. Fighting diminution connected a mature support calls for 1 of the largest concern plans Norway has ever seen."

Global lipid and state depletion volition proceed rising done 2050, with the US projected to stay the largest planetary producer, according to a caller forecast by the International Energy Agency’s (IEA) World Energy Outlook.

The IEA estimates lipid request could scope astir 113 cardinal barrels per time by mid-century, an summation of astir 13% from 2024 levels.

Reuters cited Opedal arsenic saying that the institution had been overly optimistic astir however rapidly low-carbon technologies including CO₂ transport and retention and floating offshore upwind would beryllium adopted, highlighting a wider manufacture re-evaluation arsenic elevated costs and governmental challenges hold the modulation from fossil fuels.

In February 2025, Equinor reduced its targets for renewable vigor capableness improvement by 2030, pursuing akin steps by different European vigor companies arsenic the renewables marketplace faces challenges.

In October, the institution reported adjusted operating income of $6.21bn successful the 3rd 4th of this year, a diminution of 10% compared to the aforesaid play the erstwhile year.

The results are said to person been influenced by a diminution successful liquids prices, which were partially mitigated by accrued accumulation levels and higher state prices successful the US.

"Equinor plans to drill 250 lipid and state wells successful Norway by 2035" was primitively created and published by Offshore Technology, a GlobalData owned brand.

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