Equinor Makes Oil and Gas Discovery in North Sea
April 11 2022 - 3:35AM
Dow Jones News
By Dominic Chopping
Norwegian energy group Equinor ASA said Monday that it has made
an oil and gas discovery close to the Troll and Fram fields in the
North Sea.
As the operator of production license 293 B Equinor said, based
on preliminary estimates, the size of the discovery is between 4
million and 8 million standard cubic meters of recoverable oil
equivalent, or 25 million-50 million barrels of recoverable oil
equivalent.
Temporarily called Kveikje, this is the sixth discovery in this
area since the fall of 2019. Over 300 million barrels of oil
equivalent were proven in the five former discoveries, it said.
"As we did with the other discoveries in this area, we will
consider tying this discovery to the Troll B or C platform," Lill
H. Brusdal, Equinor's vice president for the Troll area, said.
"By utilising the existing infrastructure, we will be able to
recover these volumes at a low cost and with low emissions."
Equinor plans to drill another exploration well in the area this
year, the company said.
The owners of license 293 B include Equinor with a 51% stake,
DNO ASA with 29%, Idemitsu Kosan Co. with 10%, and Longboat Energy
PLC with 10%.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
April 11, 2022 03:20 ET (07:20 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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