Equinor Forges Ahead on Both Offshore Wind and Oil Drilling

Stavanger, Norway-based Equinor this week trumpeted a major oil discovery in the North Sea, less than a month after announcing a breakthrough offshore wind deal. The company, which a year ago changed its name from Statoil in a bid to reflect interests beyond oil, said it had found up to 28 million barrels of recoverable crude on the Norwegian continental shelf. “These are profitable barrels that can be quickly tied in to existing infrastructure and generate substantial revenues for society,” said Nick Ashton, Equinor’s senior vice president for exploration in Norway and the U.K., in a statement. The discovery had been made from Equinor’s Visund A platform in association with partners Petoro, ConocoPhillips and Repsol, Equinor said. The partners will now consider how to develop the resource.

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