Equinor Secures Two RR1 Contracts, Repurchases 3.9m Shares for NOK1.19bn
Equinor has awarded Reach Subsea two RR1 vessel contracts for gas monitoring at Troll field and IMR work, scheduling operations throughout Q2 and Q3 2026. It repurchased 3.9m shares in its first 2026 buy‐back at an average NOK 305.09, lifting holdings to 64.7m shares (2.53% of capital).
1. RR1 Contracts on Norwegian Shelf
Equinor awarded Reach Subsea two contracts to deploy its uncrewed surface vessel Reach Remote 1 (RR1) on the Norwegian Continental Shelf, covering gas reservoir monitoring at the Troll field using proprietary gWatch technology and inspection, maintenance and repair (IMR) of subsea assets with an ROV and dedicated tooling. These awards bring RR1’s commissioned projects to three and engage the vessel’s capacity consecutively across Q2 and Q3 2026.
2. Raia Gas Project Drilling
Last week Equinor began drilling operations at the Raia gas project in Brazil’s Campos Basin pre-salt region, aiming for first production in 2028 as part of its international growth strategy.
3. 2026 Share Buy-Back Program
Equinor completed the first tranche of its 2026 share buy-back by repurchasing 3,896,543 shares at an average price of NOK 305.09, investing approximately NOK 1.19 billion. The move raises treasury holdings to 64,652,070 shares, representing 2.53% of share capital, underlining the company’s ongoing capital return policy.