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Equinor and partners with discovery reports in the North Sea.
Equinor, together with its partners Vår Energi, Idemitsu Petroleum and Neptune Energy, has made this year’s largest discovery to date on the Norwegian shelf.
Preliminary estimates are between 12 and 19 million standard cubic meters of recoverable oil equivalents, which corresponds to between 75 and 120 million barrels of recoverable oil equivalents.
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Can connect to existing infrastructure
The wells were drilled at the Blasto prospect, about three kilometers southwest of the Fram oil and gas field, which was found in the early 2000s. The area is located 120 kilometers northwest of Bergen.
– The discovery revitalizes one of the most mature areas of the shelf. With discoveries at four out of four prospects in the Fram area over the past year and a half, we have tested volumes that together will provide significant value creation for the community, says Nick Ashton, Equinor’s director of exploration for the Norwegian continental shelf.
In the report, Equinor and the other licensees write that proximity to existing infrastructure means that they consider the oil discovery to be commercial, and that they will consider connection to other discoveries, as well as existing infrastructure in the area.
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It has reached four of the five exploration wells in the last 15 months.
British Neptune Energy, which had planned to drill two exploration wells near the Fram field this year, has now found oil in four of its last five exploration wells.
– These are important resources that can go into production quickly. It is also a strategically important discovery for Neptune, underscoring our commitment to continue business on the Norwegian platform. In the last 15 months, we have participated in five exploration wells, four of which ended in discoveries, says Odin Estensen, CEO of Neptune Energy in Norway, in a statement.
A discovery equivalent to between 75 and 120 million barrels of oil equivalent is considered significant, especially when it is close to existing infrastructure. Last year’s biggest discovery on the Norwegian shelf, the Slagugle prospect in the Norwegian Sea, for example, was between 75 and 200 million barrels.
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