Equinor, Wellesley Petroleum agree to HPHT exploration

Equinor and Wellesley Petroleum agreed to establish a joint exploration project aimed at increasing high-pressure, high-temperature (HPHT) exploration activity on the Norwegian Continental Shelf (NCS) and contributing to long-term production from existing infrastructure.

Equinor will bring regional knowledge, subsurface experience, and infrastructure to the project, while Wellesley will focus on its exploration model and HPHT drilling experience.

The collaboration will focus on HPHT opportunities in selected core areas of the Northern North Sea, where deeper targets remain underexplored but offer resource potential. By combining datasets, interpretations, and technical expertise, the companies aim to mature prospects more efficiently and prioritize drilling candidates.

The companies expect to drill up to 15 exploration wells from 2027–2030. Wellesley will target operating up to 3–5 HPHT wells per year, with drilling taking place in licenses where Equinor and Wellesley already work together. 

The project does not constitute a joint venture, partnership, or new legal entity. Each company retains full independence and continues to act within existing license structures and governance frameworks. All drilling decisions will remain subject to approval by the relevant production license partnerships in accordance with standard license processes.

The project will begin this yera, with the first wells planned from 2027 onwards.