Vår Energi and Equinor have made a gas and condensate discovery in the 6407/5-3 S well, which is known as the Lakris prospect in the Gimsan Basin on the Halten Terrace in the Norwegian Sea.

This wildcat well was drilled about 170 kilometers northwest of Kristiansund as the first exploration well in  production license 1002, which was awarded in the APA 2018 round on March 1, 2019.

The licensees in the production license are Vår Energi (operator) and Equinor, which drilled the well 6407/5-3 S using the COSL Prospector semi-submersible rig to a vertical depth of 4,225 meters below sea level and terminated in the Lower Jurassic.

The water depth at the site is 218 meters. The well, which was not formation-tested, but data and samples were collected, will now be permanently plugged and abandoned.

The objective of the well was to prove petroleum in chalk reservoir rocks in the Nise Formation, as well as in Lower Jurassic reservoir rocks in the Tilje Formation. Based on the Norwegian Offshore Directorate’s data, hydrocarbon shows were proven in the lower Tilje Formation.

The well did not encounter a sandstone reservoir in the Nise Formation, but elevated gas values were recorded in the interval. The Garn, Ile, and Tofte formations were also investigated, but the intervals were aquiferous, and the reservoir quality was moderate to poor.

The well 6407/5-3 S encountered gas and condensate in the upper Tilje Formation in heterolithic reservoir rocks, totalling 54 meters, with moderate to poor reservoir quality. The gas/water contact was not encountered in the well.

The preliminary calculations indicate the size of the discovery is between 0.2 and 0.9 million standard cubic meters of recoverable oil equivalent, which corresponds to between 1.3 and 5.5 million barrels of oil equivalent.

The latest hydrocarbon find in Norwegian waters comes months after Equinor, Aker BP, and Vår Energi teamed up to look for major hydrocarbon discoveries on the Norwegian Continental Shelf (NCS).

Norway’s state-owned energy firm Equinor has exercised priced options for additional wells for a 17-year-old semi-submersible rig owned by Scotland-headquartered Odfjell Drilling.

The 2009-built Deepsea Atlantic sixth-generation deepwater and harsh-environment semi-submersible is a dual-derrick, dynamic-positioned unit of enhanced GVA 7500 design.

Odfjell Drilling in August reported that the rig returned to work after spending a total of 106 days off-hire in following an equipment-handling incident, which occurred in April, when the blowout preventer (BOP) dropped to the seabed at an approximate depth of 1,100 meters.

While the semi-submersible was off-hire, the firm was able to recover the dropped BOP before returning the rig to the yard to carry out repairs and install the spare blowout preventer it had in stock.

It was reported today, October 16, that Equinor Energy had exercised priced options for two additional wells for Deepsea Atlantic, in direct continuation of the rig’s current contract.

The option exercise extends Deepsea Atlantic’s firm contract to late Q4 2027 at the pricing agreed in the original contract. Equinor retains priced options for a further two wells.

Furthermore, in a separate announcement, Eidesvik Offshore announced that it had received a contract extension from Equinor for the supply vessel Viking Avant, which runs in direct continuation of the current contract, extending the firm period to the end of 2027 with an option for further extension.

“Viking Avant has served Equinor since delivery in 2004, and we are pleased to extend our collaboration on current market terms. The extension reflects the consistent performance of the vessel and her crew,” said Helga Cotgrove, CEO of Eidesvik Offshore.

After Seadrill, which hammered out a reorganization plan in July 2021 with its consenting lenders, emerged from Chapter 11 bankruptcy in February 2022, a little over a year after announcing its second bankruptcy filing in about four years, Odfjell Drilling made arrangements with SFL Corporation in May 2022 to take over marketing and management services for the Hercules rig from the Bermuda-based offshore drilling player.

SFL, which signed a contract with Galp Energia for the same semi-submersible in May 2023, filed a claim in March 2023 in the Oslo District Court regarding Seadrill’s redelivery of the semi-sub in December 2022, which allegedly was not done in the condition specified in the duo’s contract.

While the firm sought damages of around $28 million, the court issued a judgment in February 2025 in favor of SFL’s subsidiary, ordering Seadrill’s subsidiaries to pay the former an amount equivalent to approximately $48 million in compensation, which includes late payment interest and legal costs.

This legal saga got an epilogue at the Borgarting Court of Appeal, which has delivered its unanimous judgment in the legal case between SFL Corporation’s rig-owning subsidiary and certain subsidiaries of Seadrill, based on which the offshore drilling firm breached the contract when redelivering the rig.

As a result, the court ordered Seadrill to pay SFL’s subsidiary a total of approximately NOK 525 million (approximately $55 million), including compensation, late payment interest, and legal costs. The judgment largely upholds the Oslo District Court’s ruling from February 2025, but the total amount payable has increased as a result of accrued interest.

SFL has been awarded its full legal costs for the proceedings before both the Oslo District Court and Borgarting Court of Appeal. The company intends to review the judgment in detail, as either party may appeal to the Supreme Court of Norway within one month of service of the judgment.

An appeal can only be heard if leave to appeal is granted by the Supreme Court’s Appeals Selection Committee, which happens only in limited circumstances. The 2008-built Hercules sixth-generation deepwater and harsh environment rig of the GVA 7500 design can accommodate 180 people. With a maximum drilling depth of 35,000 feet, the semi-sub can operate in water depths of 10,000 feet.

BW Energy has entered into a $208 million project-level lease financing for the Akoum wellhead platform to be installed on the Bourdon field offshore Gabon and signed an 18-month extension to the $250 million corporate revolving credit facility (RCF). These agreements further strengthen the financing platform as the firm executes its long-term growth strategy.

Thomas Young, CFO of BW Energy, commented: “The Bourdon development is a great example of what our business model can deliver. Fourteen months from discovery to FID, and now the full infrastructure cost financed long term at an attractive cost of capital, without upfront equity. Extending the RCF adds further flexibility as we grow towards more than 100,000 barrels per day.”

Following a final investment decision (FID) on the Bourdon development in the BW Energy-operated Dussafu license in May, conversion of the Akoum rig, formerly Jasmine Alpha, into a 12-slot wellhead platform is said to be progressing to plan. The unit will provide capacity for future planned development phases in the area, with first oil targeted in the first quarter of 2028

The Oslo-listed company highlights that the twelve-year lease with Minsheng Financial Leasing (MSFL) replaces the previously announced short-term financing, covering 100% of the platform’s capital expenditure, and has a firm term of eight years, with an option to extend by a further four years.

Lease costs are shared by the Dussafu license partners in line with their participating interests, with BW Energy’s share at 73.5%. The firm points out that the ownership of the platform passes to the license at the end of the lease.

The offshore operator has exercised an option to extend the tenor of the RCF with DNB Bank by a further 18 months with the new maturity in August 2028 on the same terms, providing enhanced financial flexibility in support of ongoing field development activities and general corporate purposes

Equinor and Eneco have signed a five-year agreement for natural gas deliveries, covering around 9 TWh of natural gas per year, or approximately 0.9 billion cubic meters, to the Dutch gas grid. The deliveries started on October 1, 2026.

The deal is for gas from the Norwegian Continental Shelf (NCS), where production and pipeline transport have a comparatively low greenhouse gas footprint among gas sources supplied to Europe, with further commercial terms remaining confidential.

Helle Østergaard Kristiansen, Equinor’s Senior Vice President for Gas & Power, commented: “This is the third long-term agreement we have signed with Eneco this year, and I am very pleased that we are further expanding our relationship.

“Across all three agreements, the gas supplied by Equinor includes verified attributes through the Attributes platform, providing documented data on the origin of the gas and its upstream greenhouse gas footprint. This is another clear signal that major European energy companies value Norwegian gas for its reliability and comparatively low emissions footprint.”

Aside from the gas supply, Equinor will transfer verified environmental attributes to Eneco through the digital platform operated by Attributes. The greenhouse gas footprint of the gas under this contract is described as being 11.8% lower than the average for gas supplied through the Dutch grid.

Selina Thurer, Board Member Customers at Eneco, emphasized: “Eneco is dedicated to building a future based on sustainable energy, while recognising that many households and small businesses will continue to rely on natural gas as part of their energy supply.

“With this agreement, we will supply all our residential and small business customers in the Netherlands with Norwegian gas and take a step forward in a secure and reliable energy supply for Europe.”

The bridge team is watching the waves. The client rep is watching the schedule. The deck crew is watching the crane. The marine coordinator aligns the different operational inputs. And somewhere onshore, a project team is watching the cost. Different perspectives; different priorities.

In theory, the authority is defined, and safety always wins. In practice, marginal conditions can blur the line between who may stop the operation and who recommends proceeding. While the captain retains overriding authority for vessel safety, different crew members may each have responsibility to stop an operation within their area. Problems arise when these roles, limits, and escalation paths are not clearly understood before pressure builds.

The grey zone is where accidents happen