Equinor and Wellesley Petroleum have entered into an agreement to initiate a joint exploration project (JEP) on the Norwegian Continental Shelf (NCS), aiming to increase high-pressure, high-temperature (HPHT) exploration activity.
The collaboration seeks to address the anticipated decline in production on the NCS over the next decade by targeting exploration activities close to current infrastructure.
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Under this arrangement, the companies will combine their technical expertise, regional knowledge and operational capabilities to advance HPHT prospects more rapidly and identify the most viable drilling candidates.
The project will centre on selected core areas in the northern North Sea where deeper and less explored targets are located.
Through joint efforts in data sharing, interpretation and technical analysis, Equinor and Wellesley intend to strengthen the quality of their exploration portfolio and advance prospects towards production more efficiently.
The companies plan to drill up to 15 exploration wells between 2027 and 2030. Wellesley will operate up to five HPHT wells each year, focusing on licences where both companies are already involved as partners and working closely with other licence holders.
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By GlobalDataWellesley’s recent experience in delivering HPHT wells, together with Equinor’s long-standing position as a NCS operator and infrastructure owner, will support ongoing exploration efforts.
The joint exploration project does not create a joint venture, partnership or any new legal entity. Both operators will retain full independence and continue to work within existing licence structures.
All drilling activities under the project will require approval from production licence partnerships under standard licence protocols.
Earlier this week, Equinor concluded its investigation into a well control incident on the Deepsea Bollsta drilling rig at the Troll field, around 65km west of Kollsnes near Bergen, which involved a release of around 930kg of gas.
Last month, Equinor, along with partners Petoro and OMV, made an oil and gas discovery in production licence 277 in the Norwegian North Sea, following the drilling of the 33/12-N-3 HH wildcat well.
