Equinor Makes Gas Discovery in the North Sea
July 08 2020 - 2:11AM
Dow Jones News
By Dominic Chopping
Equinor ASA said Wednesday that it and its license partners
Source Energy AS and Wellesley Petroleum AS have made a gas and
condensate discovery in the North Sea of between 19 million and 63
million barrels of oil equivalent.
"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," said Nick Ashton, Equinor's senior vice
president for exploration in Norway and the U.K.
"Now we will work on evaluating the potential for profitable and
CO2 efficient recovery."
The discovery at exploration well 30/2-5 S Atlantis on the
Kvitebjorn field has proven reserves of between 3 million and 10
million standard cubic meters of recoverable oil equivalent based
on preliminary estimates.
The license owners of the production license are Equinor Energy
AS with 60%, Source Energy with 20% and Wellesley Petroleum AS with
20%. They will now consider whether to pursue the discovery in an
overall assessment of the area.
Write to Dominic Chopping at dominic.chopping@wsj.com
(END) Dow Jones Newswires
July 08, 2020 02:56 ET (06:56 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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