Equinor: to discontinue offshore South Australia well
(CercleFinance.com) - Norwegian oil company Equinor on Tuesday said that it has decided to discontinue its plans to drill an exploration well offshore South Australia, saying the opportunity was not "commercially competitive.
Following a review of its portfolio, Equinor has concluded that the project's potential is less interesting than other exploration opportunities.
Equinor entered the licences in the Ceduna sub-basin as a partner in 2013 and took over as operator with a 100% equity share in 2017.
The company now plans to focus on its exploration permit offshore Western Australia and will maintain other ongoing activities in Australia.
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