Norway – Oil & Gas 360

Noble secures $1.3 billion in new rig contracts, enters Norway floater market

January 27, 2026

(World Oil) – Noble Corporation has announced new contract awards totaling approximately $1.3 billion, adding backlog across nine rigs and marking the company’s entry into the Norwegian harsh-environment floater market. The awards reflect continued multi-year demand for deepwater and offshore drilling and are expected to materially improve fleet utilization over the coming years. Noble said the new contracts increase the percentage

Harbour Energy makes gas discovery in Norway’s North Sea

December 19, 2025

(Oil Price)– Harbour Energy has made a gas and condensate discovery in the Norwegian section of the North Sea, which could be tied back to existing infrastructure, the Norwegian Offshore Directorate said on Friday. Harbour Energy, as operator of the license, and its partners have proven gas condensate in the ‘Camilla Nord’ prospect, the regulator said, adding that preliminary estimates indicate

Transocean adds $89 million in new offshore drilling options across three regions

November 18, 2025

(World Oil)– Transocean has secured approximately $89 million in new firm backlog after operators in Brazil, Norway and Romania exercised contract options on three of its floating rigs, the company announced. In Brazil, Petrobras exercised a 90-day option on the Deepwater Mykonos, continuing the ultra-deepwater drillship directly into its next campaign. The extension is expected to contribute about $33 million to backlog.

Norway’s $1.9 trillion oil fund cuts stakes in energy supermajors

August 12, 2025

(Oil Price)– The world’s biggest sovereign wealth fund, Norway’s $1.9 trillion oil fund, cut its equity stakes in the biggest international oil and gas companies in the first half of the year as oil prices fell. Government Pension Fund Global, which is commonly referred to as ‘Norway’s oil fund’ because it was created with oil and gas revenues, is a

Equinor starts up Arctic oilfield Johan Castberg

March 31, 2025

(Oil Price) – Following several months of delays due to inclement winter weather in the waters in Norway’s Arctic, Equinor started up the Johan Castberg oilfield on Monday, which will add 220,000 barrels of oil per day at peak production rates. Equinor has already delayed the start-up twice, in December and in early March, due to bad weather. As Norway’s newest oilfield, Johan Castberg in

Norway will keep momentum for well drilling, natural gas in 2025, Directorate says

January 10, 2025

(World Oil) – (Bloomberg) – Norway’s oil and gas companies delivered record levels of natural gas in 2024 and will drill a similar number of exploration wells this coming year, in a push to offset production declines later in the decade. Some 40 wells are due to be drilled in 2025, on par with the 42 drilled last year, the Norwegian

Equinor discovers oil and gas near troll field in the North Sea

December 17, 2024

(Oil Price) – Equinor has made an oil and gas discovery next to the giant Troll field in the North Sea and will continue to explore the area for further potential resources close to existing infrastructure. The discovery, provisionally named Ringand, is currently estimated to contain between 2 and 12 million barrels of oil equivalent and is only 10 miles (17

Norway’s oil investment set for record high in 2024

August 15, 2024

Oil Price Higher costs and ongoing field developments are set to boost oil and gas investments to a record high offshore Norway, the top hydrocarbon producer in Western Europe, according to new data from Statistics Norway. Total investments in oil and gas activity in 2024, including pipeline transportation, are estimated at an all-time high of $24 billion (257 billion Norwegian

Norway targets U.S. oil majors as climate activist resolution boosted at TotalEnergies

May 26, 2023

Nasdaq Pressure mounted on oil majors on Friday as Norway’s giant sovereign wealth fund said it would vote against CEOs at Chevron CVX.N and Exxon XOM.N and support for a climate activist resolution at TotalEnergies’ AGM surged to over 30%. Together with peers BP BP.L and Shell RDSa.L, the companies face a vocal minority of investors demanding faster emissions cuts as a majority of shareholders supports management in reaping the

Norway’s oil fund held over $260M in failed SVB Banking Group

March 13, 2023

Oil Price Norway’s oil fund held over $263 million in Signature Bank and SVB Financial Group, the owner of Silicon Valley Bank (SVB), which failed spectacularly over the weekend, sparking government intervention. MarketWatch reports that the Norwegian sovereign wealth fund (SWF) held around $263 million in SVB Financial Group and Signature Bank, based on last week’s valuations. “This is the biggest

Equinor plans $8.8 bln development of world’s northernmost oilfield

November 10, 2021

Reuters OSLO, Nov 10 – Norway’s Equinor (EQNR.OL) said on Wednesday it plans to invest up to 75 billion Norwegian crowns ($8.80 billion) to develop the Wisting petroleum discovery, set to become the world’s northernmost oilfield. Located in the Arctic Barents Sea and containing close to 500 million barrels of oil equivalent, the Wisting development is subject to a final investment

Norway’s energy firms plan $1.7 bln oil, gas developments

June 30, 2021

Gulf Today Equinor and Aker BP set out plans to develop four oil and gas discoveries with a total price tag of 14.5 billion Norwegian crowns ($1.69 billion) as part of Norway’s efforts to maximise output from its existing fields. The Nordic nation, which began to extract oil and gas 50 years ago, believes it has still only pumped about

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