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According to a report in the Sinopec News on January 22, 2026, as cited by Oil Price Network, Equinor (a Norwegian oil company) announced recently that it has signed framework agreements with 7 suppliers worth approximately 100 billion Norwegian kroner (about 69.2 billion yuan). These agreements aim to ensure long-term stability in oil and gas production on the Norwegian continental shelf through systematic maintenance and technological upgrades, thereby reinforcing Norway’s role as a key energy supplier in Europe. This massive investment marks the entry of Norway’s oil and gas industry into a new phase of development centered on stable production and improved efficiency. Under the agreement, Equinor will work closely with the supplier on the maintenance and renovation of offshore platforms and onshore facilities. The cooperation period will begin in the first half of 2026, with an initial duration of 5 years, including an option to extend it for another 5 years. Kjetil Hoff, Executive Vice President of Equinor’s Norwegian shelf operations, said: “Our goal is to maintain high production levels and provide a stable energy supply to Europe.” To this end, we must work together with our suppliers to explore new working models that can enhance competitiveness. ” To achieve the target of 1.2 million oil equivalents per day by 2035, Equinor plans to invest 60–70 billion Norwegian kroner annually to improve recovery rates and develop new oil fields. Equinor plans to drill 250 exploration wells and 600 production enhancement wells, carry out 300 downhole interventions per year, and advance 2,500 technical improvement projects. In addition, the company will continue to advance over 75 undersea development projects that can be connected to existing infrastructure, in order to tap into resource potential in an economical manner. The Arctic region will become a key growth driver for Equinor’s strategy of stable production. Recently, Equinor and its partners have decided to invest 4 billion Norwegian kroner in the Johan Castberg oil field in the Arctic to develop the first connection project there and increase production in the area. Grete Bjette Halland, Senior Vice President of Equinor’s Exploration and Production North business, said the field will add 250 million to 550 million barrels of recoverable reserves. This series of measures highlights the mainstream development strategy in Norway’s oil and gas industry: connected development, which involves prioritizing the exploration of resources near existing production facilities and utilizing existing infrastructure such as pipelines and platforms for connection. This approach enables operators to rapidly increase oil and gas production at costs significantly lower than those of conventional development. Equinor and other Norwegian operators are widely adopting this model to optimize their asset portfolios while controlling capital expenditures, ensuring that the Norwegian shelf maintains its strategic value during the energy transition. Against the backdrop of the EU’s pursuit of energy supply diversification and energy security, Norway holds significant geopolitical importance as a stable and reliable supplier of oil and gas. Equinor’s partnership with this supplier, involving investments in the order of hundreds of billions, represents not only a continued investment in existing assets but also lays the foundation for energy supply over the next decade or so through technological innovation and improved collaboration models.