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- Equinor : Significant oil discovery
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Equinor Makes Biggest NCS Discovery in 2021
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Oil Discovery Near The Johan Castberg Field In The Barents Sea
Equinor and partners Vår Energi and Petoro have struck oil in exploration well 7220/7-4 in production licence 532 in the Barents Sea. Recoverable resources are so far estimated at between 5 and 8 million standard cubic metres of recoverable oil, corresponding to 31 – 50 million barrels of recoverable oil.
“Succeeding in the Barents Sea requires perseverance and a long-term perspective. This discovery strengthens our belief in the opportunities that exist, not least around the Castberg, Wisting, Snøhvit and Goliat areas,” says Nick Ashton, Equinor’s senior vice president for exploration in Norway.
Equinor’s Barents Sea oil find provides long-awaited boost for Johan Castberg project
Norway’s state-controlled Equinor has made an oil discovery estimated at 31 million-50 million barrels near its flagship Johan Castberg complex in the Barents Sea, in a potential boost for the industry’s expansion goals in the Arctic region, it said March 10.
In a statement, Equinor said the well, some 230 km northwest of the far northern town of Hammerfest, had struck a 109-meter oil section in the early Jurassic age Sto and Nordmela formations, without encountering an expected gas cap.
The announcement, cautiously worded in Equinor’s statement, could represent progress in its long search for additional resources in the vicinity of Johan Castberg, a cluster of fields discovered early in the last decade and estimated at 400 million-650 million barrels.