Equinor has extended a series of drilling and well service agreements worth about NOK 17 billion ($1.6 billion) to sustain production on the Norwegian Continental Shelf.
The agreements include integrated drilling and well services contracts valued at NOK 8.3 billion, along with framework agreements for specialist services estimated at NOK 4.3 billion per year over a two-year period.
Core contracts were awarded to Baker Hughes Norge AS, Halliburton AS, and SLB Norge AS, covering multiple assets across the shelf. These companies, together with other suppliers, will also support well construction and intervention activities under the specialist service agreements.
Jannicke Nilsson, chief procurement officer at Equinor, said the agreements are among the company’s largest and are essential for maintaining activity levels. She noted that new wells are key to sustaining production and ensuring stable energy supply to Europe.
Equinor stated that drilling and well operations are expected to play an increasing role in supporting output from the mature North Sea basin. The company indicated that new wells and interventions will account for a larger share of future production.
Rune Nedregaard, senior vice president for Wells at Equinor, said new wells are projected to contribute around 70% of the company’s production by 2035. He added that achieving this will require closer collaboration with suppliers, as well as expanded use of technology and standardisation.
The agreements are expected to support approximately 2,500 jobs and will cover activities on both fixed installations and mobile rigs.
