EQNR Secures New Production Licenses in Predefined Areas of the NCS

Core Insights - Equinor ASA (EQNR) secured 35 new production licenses from the Ministry of Energy in the 2025 APA licensing round, enhancing its exploration and production capabilities in the North Sea, Norwegian Sea, and Barents Sea [1][6] - The company plans to operate 17 of the 35 licenses, with a distribution of 21 in the North Sea, 10 in the Norwegian Sea, and 4 in the Barents Sea [2][6] - Equinor aims to drill 20 to 30 exploration wells annually, focusing 80% on existing infrastructure and 20% on new concepts and frontier areas, to counteract the expected decline in oil and gas production from the Norwegian Continental Shelf (NCS) [2][3] - To maintain production levels, Equinor targets the addition of six to eight new subsea developments each year through 2035 [3] Industry Context - The upstream business of Equinor is facing pressure due to West Texas Intermediate crude prices hovering just above $60 per barrel [3] - Other major players in the integrated oil and gas sector, such as BP, Chevron, and Exxon Mobil, are also vulnerable to crude price volatility, with varying Zacks Ranks indicating their market positions [4][5]