Equinor Receives Approval for Drilling Operations at Verdande

Core Insights - Equinor ASA has received approval to commence exploration and production activities in the Verdande development within the Norne field in the Norwegian Sea [1][10] Group 1: Project Overview - The Norne field, discovered in 1992, is located approximately 80 kilometers north of the Heidrun field at a water depth of 380 meters [2] - Production at the Norne field using the FPSO Norne began in 1997, and Equinor plans to leverage existing infrastructure for the Verdande subsea development [3] - The Verdande project requires an estimated NOK 5 billion in investments to maintain production levels at FPSO Norne and optimize the use of existing subsea infrastructure [4] Group 2: Stakeholder Information - Equinor holds a 59.3% interest in the Verdande license, with partners including Petoro (22.4%), Vår Energi (10.5%), Aker BP (7%), and PGNIG Upstream Norway (0.8%) [5][10] Group 3: Operational Details - Equinor hired the Transocean Encourage rig to advance drilling activities in the Verdande field, which is anticipated to begin operations in the fourth quarter of this year [4]