Equinor has signed five-year framework agreements worth a combined 100 billion Norwegian crowns with a consortium of 15 major service and equipment providers. The contracts cover maintenance, modification and integrity support for the company’s North Sea offshore platforms, subsea installations and onshore processing facilities. Deliverables include topside upgrades on the Gullfaks and Statfjord fields, subsea pipeline integrity services in the Johan Sverdrup area, and turnaround execution at the Mongstad refinery. The agreements are expected to secure an average spend of 20 billion crowns per year, enhancing cost predictability and supply chain coordination through 2030.

In an interview with Reuters, Equinor’s CEO reiterated that the company has no plans to re-enter Venezuela, a market it exited in early 2015. The decision reflects ongoing geopolitical and regulatory uncertainties in the country, as well as Equinor’s strategic focus on high-value assets in the North Sea, U.S. Gulf of Mexico and Brazil. Management emphasized that capital previously earmarked for potential Venezuelan ventures has been redeployed to projects such as the Bay du Nord development off Canada and further appraisal drilling at the Maria field in the Norwegian Sea.