Equinor sanctions Greater PAJ and advances NCS tie-backs in strong second quarter
Equinor and its partners have taken a final investment decision for the Greater PAJ offshore oil development in Angola, while the company awarded contracts for an initial wave of Norwegian continental shelf tie-back projects. Second-quarter equity production rose 3% to 2.165 million boe per day, supporting adjusted operating income of $11.48 billion.
Equinor advanced several offshore developments during the second quarter of 2026, taking a final investment decision with partners for the Greater PAJ oil project in Angola and awarding contracts for the first wave of Norwegian continental shelf tie-back projects. The company did not identify the tie-back projects, contractors, contract values or work scopes in the results release.
Production also started at the Eirin and Symra fields. Equinor said Eirin is expected to extend production from the Gina Krog platform by seven years. Strategic transactions on the Norwegian continental shelf were intended to harmonise ownership and help progress Ringvei Vest toward a final investment decision, although transaction counterparties and terms were not disclosed.
Equinor's total equity production reached 2.165 million boe per day, an increase of 3% from the corresponding 2025 quarter. New NCS production from Eirin and Symra, together with Johan Sverdrup and new wells, contributed to a 4% regional increase. International oil and gas production also rose 4%, supported by Adura in the UK, the Bacalhau field in Brazil and reduced turnaround activity, partly offset by portfolio changes, natural decline and operational issues at Roncador.
The company reported adjusted operating income of $11.48 billion and cash flow from operations after taxes paid of $7.68 billion. Organic capital expenditure was $3.35 billion, while total capital expenditure reached $3.57 billion. Renewable generation increased 11% year on year, driven in part by Dogger Bank B and new onshore assets.