Equinor Makes Sputnik Oil Find

Equinor Makes Sputnik Oil Find
Equinor makes an oil discovery in the Sputnik exploration well offshore Norway.

Equinor revealed Tuesday that it has made an oil discovery in the Sputnik exploration well, which is located in the Barents Sea offshore Norway.

Recoverable resources at the asset are preliminarily estimated at between 20 and 65 million barrels of oil, according to the company. Sputnik was drilled in license PL855, approximately 18 miles North East of the Wisting discovery.

“We are encouraged by this result as it confirms the presence of oil north of the Wisting discovery, where Equinor has acquired a strong acreage position,” Nick Ashton, Equinor’s senior vice president for exploration in Norway and the UK, said in a company statement.

“The geology in the Barents Sea is complex, and more work lies ahead to determine commerciality. But this discovery shows that persistence and our ability to learn from previous well results does pay off,” he added.

Detailed fluid analysis, combined with geological and geophysical mapping, will be carried out to fully understand the commercial potential of the Sputnik discovery, according to Ashton.

“If confirmed that the structure comprises volumes that can be recovered in a commercially viable way, the partnership will assess possible development solutions,” Ashton stated.

Sputnik was drilled to a vertical depth of 5,147 feet below the seabed by the semi-submersible drilling rig West Hercules. Equinor holds a 55 percent operated interest in the PL855 license. Its partners comprise OMV (25 percent) and Petoro (20 percent). 

On Monday, Lundin Petroleum AB revealed that its wholly owned subsidiary, Lundin Norway AS, had made an oil discovery at exploration well 16/5-8s offshore Norway. The company also made two oil discoveries offshore Norway back in June.

Last month, Aker BP made an oil discovery in the NOAKA area offshore Norway. Equinor announced an oil and gas discovery in the Norwegian Sea through the Snadd Outer Outer/Black Vulture exploration well back in June.

To contact the author, email andreas.exarheas@rigzone.com


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