Norway’s Ministry of Petroleum and Energy has offered Equinor two operated -production licenses in the 25th license round, in the Barents Sea, a press release reported.

According to the statement, the two- offered production licenses are PL 1133 and PL 1134 in the Hoop area in the Barents Sea.

Equinor elaborated that this location will enable tie-in of any future discoveries to the Wisting field in the Barent Sea. The partners determined that the final investment decision for the Wisting licence will be taken by the end of 2022.

“We are pleased with the award. A steady access to acreage contributes positively to the development of the Norwegian Continental Shelf. This award brings opportunities for exploring volumes near planned infrastructure. We prioritise exploring for resources that meet our requirements both for profitability and reduced carbon emissions,” said Jez Averty, senior vice president for subsurface in Equinor.