EQNR's North Sea Wells Indicate Strong Potential for Carbon Storage

Core Insights - Equinor ASA has successfully drilled two appraisal wells in the North Sea, indicating potential for carbon dioxide storage [1][2][4] - The drilling operations utilized the DeepSea Stavanger rig, suitable for harsh environments, and the wells may support the Smeaheia carbon storage project [2][3] - Preliminary results from injection tests at both wells are positive, providing valuable data for future investment decisions [3] Company Developments - The wells 32/7-1 and 32/4-4 are the first drilled under exploration licence EXL 002, awarded in June 2022, and are part of efforts to evaluate commercial CO2 storage feasibility [4] - Equinor Low Carbon Solutions has highlighted the suitability of the reservoir for CO2 injection and storage [1][3] Industry Context - The drilling of these wells represents a significant step in the Norwegian Continental Shelf's exploration for commercial CO2 storage solutions [4] - The results from these wells will contribute to the broader energy transition and carbon management strategies within the industry [1][3]