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.
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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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