Norwegian oil and gas companies are entering 2026 with a strong focus on accelerating exploration and development to maintain production, despite a lack of major standalone discoveries in 2025. The industry is motivated to test new ideas and technologies, with key themes being the rapid development of new finds and maintaining a high volume of exploration drilling.

Exploration Strategy and Commitment

The industry maintains its commitment to drilling, with an average of 30-40 exploration wells annually. Operators reiterated a strategy focusing on an 80:20 mix of near-field exploration and high-impact wells. Dominant operator Equinor emphasized that new ideas and increased risk-taking are essential for exploration to meet its long-term production ambitions. Equinor plans around 30 exploration and appraisal wells for 2026, including significant high-impact prospects like Vikingskipet in the Barents Sea and Domen S/Ishjerte Lakris in the Norwegian Sea.

Key Companies and Their Plans

Several companies are expanding their exploration activities:

• Equinor has a detailed 2026 drilling schedule across the Barents, Norwegian, and North Seas.
• Aker BP and OKEA indicated the high-impact Arkenstone prospect will be re-drilled in late 2026 or early 2027.
• OKEA, part of a group of companies ramping up exploration, also has plans for the large Alpehumle prospect.
• DNO, now a major player, was awarded 20 new blocks in 2024 and emphasizes persistence and daring in exploration strategy.
• International Majors & Independents like TotalEnergies, Shell, and ConocoPhillips continue to show interest, with TotalEnergies focusing on material, standalone prospects in the Norwegian Sea.
• Inpex targets frontier exploration with five firm wells planned for 2026.
• Orlen Upstream Norway plans 42 wells over six years, with an aspiration to focus on high-impact, particularly gas, prospects.

Defining Discoveries of 2025

The year's two defining discoveries provided optimism:

• Aker BP's Omega Alfa was notable for its complex horizontal multilateral well design, which gathered extensive reservoir data and reduced subsurface uncertainty, opening up multiple new prospects in the same play.
• DNO's Kjottkake boosted confidence in its play, following earlier discoveries. Its fast-track development plan added to its significance, a decision made possible by a horizontal sidetrack of the well.

The Imperative for Speed in Development

The average 10-year period from discovery to first production has sparked intense discussion on avoiding value erosion. Industry executives argue for:

• Involving development teams and contractors earlier in the exploration process.
• Using sidetracks instead of separate appraisal wells to accelerate timelines.
• Ensuring early dialogue and data sharing with potential host platform operators.
• Aligning discovery ownership with available host capacity to enable faster subsea tie-back developments, potentially within five years as advocated by companies like Harbour Energy.

The consensus is that collaboration and the right framework are crucial for fast-track development on the Norwegian Continental Shelf.