EQNR Equinor ASA

By Dominic Chopping

Equinor ASA said Tuesday that it has made a further oil and gas discovery near the Troll field in the North Sea, marking its eighth discovery in the area since 2019.

The Norwegian energy major said volumes are estimated at between 24 million and 84 million barrels of oil equivalent, with slightly more oil than gas.

Equinor is operator of the discovery and DNO ASA is a partner.

"Our Troll exploration play keeps delivering. With discoveries in eight out of nine exploration wells, we are approaching a success rate of 90%," said Geir Sortveit, Equinor's senior vice president for exploration and production west.

"We plan to further explore the area, while looking at possible development solutions for the discoveries that have been made."

The company said the discovery can utilise existing infrastructure connected to the Troll B platform. However, an appraisal well is needed to get a more precise estimate of the size before it can be concluded whether the volumes can be recovered.

The parties are considering drilling the appraisal well in 2024.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

March 14, 2023 05:59 ET (09:59 GMT)

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