Topic
equinor
Commodities Equinor exits Japan offshore wind market, closes Tokyo office by end of 2026
Equinor has decided to end its offshore wind business in Japan and close its Tokyo office by the end of 2026, according to a company statement. The move reflects a reassessment of strategic direction with a strengthened focus on integrated power markets. Equinor stated that Japan remains an important country and that it will continue to invest in relationships in technology, commodities, and supply chain.
Commodities Equinor Acquires BP's Stake in $10bn Bay du Nord Project Offshore Canada
Norwegian energy major Equinor has reached an agreement with BP to acquire its interest in the Bay du Nord project offshore Canada, taking full ownership. The transaction reflects BP's portfolio simplification and gives Equinor flexibility to mature the project towards a final investment decision in early 2027. First oil is expected in 2031 from the Flemish Pass basin development, with an estimated investment of around CAD 14bn ($9.85bn).
Logistics DOF Secures Two-Year Equinor Contract Extension for Skandi Vega Until Q3 2029
Norwegian offshore vessel owner DOF has secured a two-year contract extension from Equinor for the anchor handling tug supply vessel Skandi Vega. The extension, exercised through options, makes the contract firm until the third quarter of 2029. The vessel has been continuously serving Equinor since its construction in 2010.
Commodities Equinor awards $1bn Norwegian rig deal to Transocean for three semisubmersibles
Swiss-based offshore drilling contractor Transocean has entered into an agreement with Equinor for the use of three Cat D harsh environment semisubmersible rigs on the Norwegian shelf. The deal represents over $1bn in contract backlog across seven rig years, with a base day rate of $399,000 that will exceed $400,000 at commencement due to adjustment provisions.
Commodities Equinor and Partners Agree on Development Concept for Ringvei Vest North Sea Tieback
Equinor and its partners have agreed on the development concept for the Ringvei Vest subsea project, a tieback to the Troll B platform in the Norwegian North Sea. The project is expected to contribute 240 million barrels of oil equivalent from eight discoveries and one prospect, spread across eight licences. Equinor aims to increase its equity production to 1.3 million barrels per day by 2035.
Technology PXGEO Partners with Equinor for Autonomous Subsea Trials
PXGEO has entered a one-year agreement with Equinor to conduct autonomous subsea inspection trials using the Saab Sabertooth. This marks PXGEO's first venture into unmanned operations, with initial tests set to take place in Norway.