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April 6, 2022

Equinor makes significant oil and gas discovery in Norwegian North Sea

The estimated recoverable resources in the Kveikje Main target stand at 28 to 48 MMboe (gross).

Norwegian firm Equinor and its partners have made a significant oil and gas discovery in the Kveikje prospect, in the Norwegian North Sea.

Following the drilling of the Kveikje exploration well (35/10-8S), in licence PL293B, the partners identified a filled reservoir of ‘excellent quality’ in the Kveikje primary Eocene target.

Equinor’s partner, Longboat Energy, said that a gas layer of similar ‘excellent’ quality was identified in the overlaying Kveikje Hordaland Eocene injectite.

Equinor operates the licence PL293B Kveikje with a 51% stake. Other partners include Longboat (10%), DNO (29%), and Inpex Idemitsu Norge (10%).

As per the estimates by Longboat Energy, the recoverable resources in the Kveikje Main target stand at 28 to 48 million barrels of oil equivalent (MMboe) (gross), which is above pre-drill expectations.

In a press statement, Longboat said: “The discovery has excellent reservoir quality and is close to existing infrastructure, allowing for a simple development through multiple export options.”

The exploration well 35/10-8S was drilled to a total vertical depth of 2,078m subsea, using the Deepsea Stavanger rig.

Longboat CEO Helge Hammer said: “Excellent reservoir quality, close proximity to infrastructure, and multiple development options make this an important and valuable resource, and we look forward to working with the operator to mature the forward plan.

“We believe that this is an asset that can be commercialised via either development or transaction, given the high value barrels that we have discovered.”

Longboat said that the Troll B and Troll C could be potential host facilities for the Kveikje discovery.

The Kveikje discovery is planned to be evaluated as part of the Equinor-operated area development, which could comprise the Toppand, Swisher, Echino South, Røver Nord, and Blasto discoveries, as well as the undeveloped Grosbeak field.

In a separate development, the Norwegian Ministry of Petroleum and Energy has awarded two exploration permits in the North Sea and the Barents Sea.

In a press statement, Equinor said: “Through these two projects, Equinor aims to contribute to CO₂ reductions equivalent to half of Norway’s annual emissions.”

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