Equinor has knowledgeable the Australian authorities of its resolution to discontinue its exploration drilling plan (Stromlo-1) within the Ceduna sub-basin, offshore South Australia.
Following a holistic overview of its exploration portfolio, Equinor has concluded that the mission’s potential shouldn’t be commercially aggressive in contrast with different exploration alternatives within the firm.
“The approval of the Stromlo-1 exploration effectively Environment Plan confirmed our means to soundly function within the Bight. However, Equinor has determined to discontinue its plans to drill the Stromlo-1 exploration effectively, as the chance shouldn’t be commercially aggressive,” mentioned Jone Stangeland, Equinor’s nation supervisor for Australia.
Equinor has knowledgeable the federal, South Australian and native authorities about its resolution. The firm entered the licences within the Ceduna sub-basin as a accomplice in 2013 and took over as operator with a 100% fairness share in 2017.
“We will interact with the federal and state authorities relating to our resolution to discontinue the exploration programme. We maintain an exploration allow offshore Western Australia and can keep different ongoing pursuits and actions in Australia,” Stangeland mentioned.
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