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Norway’s state-owned energy giant Equinor has obtained a drilling permit for operations in the Barents Sea on the Norwegian Continental Shelf (NCS), which will be conducted with a semi-submersible rig owned by Transocean , an offshore drilling contractor.
The Norwegian Offshore Directorate has granted Equinor a drilling permit for the wellbore 7220/5-EC-2 H in production licence 532 , which is valid from May 15, 2009, until the same date in 2049.
Equinor is the operator of the licence with a 46.3% interest, with its partners, Vår Energi and Petoro, holding the remaining 30% and 23.7% stakes, respectively. The drilling activities will be undertaken with the Transocean Enabler rig.
The 2016-built rig, which can accommodate 130 people, has been on a drilling assignment with the Norwegian giant for years. The total value of the original 19-well contract with eight-well options was estimated at $415 million in 2023, with the fixed part accounting for $295 million.
The 7220/5-EC-2 H well is expected to be spud in April. Last month, Equinor made an oil discovery in the Barents Sea off the coast of Norway, with a semi-submersible rig owned by COSL Drilling Europe.