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News  ›  Benzinga

Equinor Secures 35 New Norwegian Offshore Licenses

Benzinga Logo Benzinga By Nabaparna Bhattacharya
Equinor Secures 35 New Norwegian Offshore Licenses

Equinor secured 35 new Norwegian offshore production licenses across the North Sea, Norwegian Sea, and Barents Sea. The company will operate 17 of these licenses and aims to drill 20-30 exploration wells annually, with plans to advance 6-8 subsea developments yearly through 2035. The awards support Equinor's goal of sustaining production and offsetting declines in existing fields as a major European energy supplier. Stock was up 2.76% at $24.55 on the news.

Insights
EQNR   positive

Equinor secured 35 new production licenses in strategic offshore regions, will operate 17 of them, and achieved 14 discoveries in 2025. The new acreage supports the company's expansion plans to increase subsea developments and sustain production through 2035, directly addressing long-term growth and energy supply stability. Stock price increased 2.76% on the announcement.