Equinor receives new Norwegian drilling permit, shares in the energy sector spotlight

By Thomas Klein, Operations & Strategy desk. Reviewed prior to publication on 2026-06-29, 09:22.

Equinor (NO0010096985) has received a new drilling permit for the Norwegian continental shelf. The authorization relates to well 30/8-7 S in production license 190 and reinforces the group's upstream position in the North Sea, according to the Norwegian Offshore Directorate.

Fresh permit on the NCS

The Norwegian Offshore Directorate has granted Equinor a drilling permit for exploration well 30/8-7 S in production license 190 on the Norwegian continental shelf, confirming the move in a statement published in late June. MarketScreener summary of the permit announcement The license is located in the North Sea, an area where Equinor is already a major operator among European oil and gas peers such as Shell and BP.

The permit allows Equinor to drill an exploration well in the production license, subject to standard safety and environmental conditions set by Norwegian regulators. Norwegian Offshore Directorate drilling permit notice The Norwegian continental shelf remains one of the core producing regions for the company and is closely monitored by investors on European venues such as the Oslo Stock Exchange.

Analyst view on Equinor

On consensus data compiled by MarketScreener, analysts remain mixed but broadly constructive on Equinor, with several houses rating the stock between Hold and Buy and an average target price of around 37.34 US dollars for the US-listed shares. MarketScreener analyst consensus overview This compares with a last close of about 31.15 US dollars for Equinor's US listing.

Major research houses such as Goldman Sachs and UBS regularly cover Equinor as part of their European integrated oil and gas coverage, with a focus on the group's cash generation, capital allocation and energy-transition investments. UBS energy sector research hub For many analysts, upstream developments like the new Norwegian drilling permit are one input into longer-term reserve and production forecasts.

What Equinor sells

Equinor earns most of its revenue from producing and selling oil and natural gas from fields on the Norwegian continental shelf and other international basins, alongside marketing refined products and power. The company also invests in offshore wind and other renewables as part of its long-term energy-transition strategy.

Where the stock trades today

The Equinor shares (NO0010096985) trade on the Oslo Stock Exchange at about 314.50 Norwegian kroner as of 2026-06-29, 09:00, with the stock up roughly 1.75 percent on that day in local trading.

This article is for informational purposes only and does not constitute investment advice, a recommendation to buy or sell securities, or a solicitation of any transaction. All data are based on sources deemed reliable but cannot be guaranteed.