Equinor has made an oil discovery in the Norwegian Sea off the coast of Trøndelag. Preliminary estimates show that between 3 and 10 million standard cubic meters of recoverable oil equivalents have been proven in the well, corresponding to 19-62 million barrels.
In a press release, Equinor writes that it found oil in one of its exploration wells. The well is located about 10 kilometers north of the Tyrihans field and 23 kilometers east of the Kristin field in the Norwegian Sea.
The discovery is the sixth Equinor has made on the Norwegian shelf so far this year.
“Our ambition is to transform the shelf from an oil and gas province to a broad energy province that will ensure value creation from the shelf in the decades to come. In this ambition, our exploration activities are central,” Kristin Westvik, the area director for Exploration and Production North, said.
She added that future value creation would largely come from increased recovery from existing fields and the connection of new discoveries close to existing infrastructure.
Therefore, it is uplifting to be able to demonstrate resources that can strengthen the service life of producing fields in the Norwegian Sea. Such near-field discoveries are profitable and robust against fluctuations in oil/gas prices. They have a short payback period and low emissions, she noted.
Source: #Norway Today / #NorwayTodayNews
Do you have a news tip for Norway Today? We want to hear it. Get in touch at email@example.com