BASF, in its pursuit of exiting its energy business Wintershall Dea, has drawn interest from companies such as TotalEnergies and Equinor for the oil and gas unit, according to a report in the German newspaper Handelsblatt.

The scope of work includes plugging, drilling, and completion of well 15/8-G-1 AH.

This agreement further strengthens the partnership between the two companies and supports OMV's gas diversification strategy.

Commencing from October 1, marking the start of Europe's gas winter season, Equinor will provide OMV with 12 terawatt hours (TWh) of natural gas.

The Eirin field, discovered in 1978, holds an estimated 27.6 million barrels of recoverable oil equivalent, primarily gas.

The project aims to demonstrate the potential of on-demand cargo drone services in addressing logistical challenges, improving safety, and enhancing sustainability in offshore operations.

Arne Gurtner, Senior Vice President UK & Ireland at Equinor, emphasized the value of the company's knowledge in deploying floating wind infrastructure to generate power for offshore oil and gas platforms.

The combined value of these contracts stands at approximately USD 369 million for their respective firm periods.

This strategic move by Equinor not only expands its presence in the North Sea region but also offers Nauticus the opportunity to qualify for future contracts with the energy giant.

These strategic agreements are poised to enhance Equinor's drilling capabilities and solidify its commitment to sustainable operations.