Equinor, Aker BP, Var Energi Join Forces in Search For Norwegian Discoveries
By Dominic Chopping
A group of Norwegian energy producers has joined forces as they seek to pool resources in their search for some of the largest remaining opportunities on the country's continental shelf.
Equinor, Aker BP and Var Energi said Monday that they are forming a strategic exploration collaboration to increase the chances of major discoveries that can support new standalone field developments.
The companies will combine expertise, data, technology and exploration capacity, as they plan to mature and test a portfolio of 20-25 exploration opportunities over the next four to five years. They will target the drilling of around five exploration wells annually.
"Some of the largest remaining opportunities come with higher geological uncertainty, greater complexity and larger investment requirements," they said in a joint statement.
"By sharing risk and combining capabilities, the companies can pursue and test more of these opportunities than they would individually."
They added that major new discoveries could support future energy supplies, help sustain activity and expertise in the Norwegian supplier industry, and help maintain energy supplies to Europe as production on the Norwegian continental shelf is expected to decline after 2035 without new discoveries and developments.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
August 24, 2026 08:10 ET (12:10 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy Before They Rise Further
2 Undervalued Stocks to Buy Before They Rebound
The 10 Best Companies to Invest in Now
The 10 Best Dividend Stocks
United States