Safety Concerns Prompt Equinor To Shut Production At Gullfaks C Platform: Report

Equinor ASA EQNR reportedly shut down production at its Gullfaks C platform in the North Sea on Sunday.

The company evacuated some workers as a precaution after a well incident, reported Reuters.

Gullfaks C primarily produces oil and handles the processing and export of oil and gas from the nearby Tordis field.

The report added that gas production at the Gullfaks field will be reduced by 6.6 million cubic meters per day on Monday.

A company spokesperson said, “We have had a well control incident at Gullfaks C,”  adding that the well was “stable.”

In July, Equinor reported second-quarter adjusted revenue of $25.54 billion, beating the consensus of $23.72 billion, while adjusted EPS of $0.84 missed the consensus of $0.85.

Also, Equinor recently renewed a long-term contract to supply OCTG for use in Norway and internationally for up to 9 years.

Investors can gain exposure to the stock via SGI Enhanced Global Income ETF GINX and Keating Active ETF KEAT.

Price Action: EQNR shares are down 2.62% at $27.10 premarket at the last check Monday.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.