Equinor Makes North Sea Discovery
Equinor ASA revealed Wednesday that it has discovered gas and condensate in exploration well 30/2-5 S Atlantis, which is situated by the Kvitebjorn field in the Norwegian section of the North Sea.
The proven reserves of the find are estimated to be between 19 and 63 million barrels of oil equivalent, according to Equinor. The company noted that the well was not formation tested but added that “extensive” amounts of data have been acquired and samples have been taken.
“It is encouraging to see that we are able to keep proving more resources in one of the most mature areas on the Norwegian continental shelf,” Nick Ashton, Equinor’s senior vice president for exploration in Norway and the UK, said in a company statement posted on Equinor’s website.
“Now we will work on evaluating the potential for profitable and CO2 efficient recovery,” he added in the statement.
Well 30/2-5 S Atlantis was drilled to a vertical depth of 14,301 feet below sea level and water depth in the area is 465 feet. This is the first exploration well to be drilled in production license 878, which was awarded in the Awards in Predefined Areas 2016 (APA 2016) round.
The license owners of production license 878 are Equinor, which holds a 60 percent stake, Source Energy, which holds a 20 percent interest, and Wellesley Petroleum, which also holds a 20 percent stake.
Back in April, Equinor announced an oil discovery in the U.S. Gulf of Mexico. The company announced its first Norwegian Continental Shelf discovery of 2020 in March.
Headquartered in Stavanger, Norway, Equinor is present in more than 30 countries around the world, according to its website. The company’s main development projects are in Algeria, Angola, Azerbaijan, Brazil, Canada, Ireland, Norway, the UK and the U.S., Equinor’s website notes.
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