Norwegian power company Equinor claims it is stopping expedition boring in the Great Australian Bight offshore southerlyAustralia

The step follows a testimonial by Equinor that established its existing boring strategy is not “commercially competitive” compared to various other tasks in the firm’s profile.

“The approval of the Stromlo-1 exploration well Environment Plan confirmed our ability to safely operate in the Bight. However, Equinor has decided to discontinue its plans to drill the Stromlo-1 exploration well, as the opportunity is not commercially competitive,” claimed Jone Stangeland, Equinor’s nation supervisor for Australia.

Equinor ended up being driver as well as 100% proprietor of expedition allows EPP39 as well as EPP40 in June 2017, covering around 12,000 square kilometers in the Ceduna sub-basin. The firm initially prepared to pierce one expedition well, called Stromlo -1, situated around 476 kilometres west of Port Lincoln.

Australian authorities authorized Equinor’s needed Environment Plan for discovering the Bight in December 2019.

“We will engage with the federal and state authorities regarding our decision to discontinue the exploration programme. We hold an exploration permit offshore Western Australia and will maintain other ongoing interests and activities in Australia,” Stangeland claimed.