Equinor Extends Drilling; Well Service Contracts Worth NOK 17 Bln

(RTTNews) - Equinor ASA (EQNR), a Norwegian energy company, on Monday announced the extension of key drilling and well service agreements worth around NOK 17 billion to support continued production on the Norwegian continental shelf.

The contracts have been awarded to Baker Hughes Norge AS (BKR), Halliburton AS (HAL) and SLB Norge AS, along with additional suppliers for specialist services.

The agreements include NOK 8.3 billion for integrated drilling and well services and approximately NOK 4.3 billion per year over two years for specialist service framework agreements.

The extensions involve one-year options for integrated services and two-year options for framework agreements, ensuring continued drilling activity and stable energy supply to Europe.

The company said the agreements are expected to support around 2,500 jobs and help maintain production levels, with new wells projected to contribute significantly to output in the coming years.

Equinor closed trading 2.55% lesser at $39.71 on the New York Stock Exchange. In the overnight, the stock closed traded 0.20% higher at $39.79.