Equinor's headquarters in Oslo
Equinor streamlines its offshore strategy
Exploration is providing mixed fortunes for IOCs amid higher costs, prompting firms to look towards M&A and safer plays
Norway’s Equinor has seen mixed fortunes from its offshore exploration in recent months, exemplifying a trend among IOCs that has seen recent high-profile successes coming alongside failures and setbacks—serving as a reminder that offshore exploration is risky. Domestically, Equinor’s exploration efforts in 2024 include drilling a dry hole at Harden sor, the sixth well to be drilled in production licence (PL) 248C in the Norwegian North Sea. This was followed by the firm delineating the Heisenberg oil and gas discovery in wells 35/10-11 S and A and also proving the presence of oil in the Hummer prospect—the first and second wells drilled in PL 827 SB. “Equinor’s performance in Norway has gen
Also in this section
23 January 2026
A strategic pivot away from Russian crude in recent weeks tees up the possibility of improved US-India trade relations
23 January 2026
The signing of a deal with a TotalEnergies-led consortium to explore for gas in a block adjoining Israel’s maritime area may breathe new life into the country’s gas ambitions
22 January 2026
As Saudi Arabia pushes mining as a new pillar of its economy, Saudi Aramco is positioning itself at the intersection of hydrocarbons, minerals and industrial policy
22 January 2026
New long-term deal is latest addition to country’s rapidly evolving supply portfolio as it eyes role as regional gas hub
