Equinor Discovers Oil in Norwegian Sea, Estimated between 6.3-18.9 Million Barrels

Strategic Insights -

Equinor has successfully discovered petroleum in a wildcat well in the Norwegian Sea, marking a significant find in the region. The well, 6506/12-PB-3 H, was drilled by the Transoceans Transocean Encourage semi-submersible drilling rig and tested the Smrbukk Midt prospect. Preliminary estimates suggest that the discovery could hold between 1-3 million standard cubic meters of recoverable oil equivalent, translating to 6.3-18.9 million barrels of recoverable oil equivalent. This exciting find has the potential to contribute to the development of the Sgard field, where the discovery is located.

Key Takeaways:

  • Equinor has discovered petroleum in a wildcat well in the Norwegian Sea, specifically in the Smrbukk Midt prospect.
  • The well was drilled by the Transoceans Transocean Encourage semi-submersible drilling rig and tested the Smrbukk Midt prospect.
  • Preliminary calculations indicate that the discovery is between 1-3 million standard cubic meters of recoverable oil equivalent.
  • This corresponds to between 6.3 and 18.9 million barrels of recoverable oil equivalent.
  • The well is located in production licence 094, operated by Equinor with 40.95% working interest.
  • Partners include Vr Energi holding 34.3%, Petoro 14.95%, and TotalEnergies EP Norge 9.8%.
  • The discovery is the 15th exploration well in production licence 094, which was awarded on 9 March 1984.
  • The well will be connected to the Smrbukk Sr, part of the Sgard field.
  • The Transoceans Transocean Encourage drilling rig will next drill the production well 6506/12-PB-3 AH in the Garn Formation at the same location.

Statistics:

  • The discovery is estimated to hold between 1-3 million standard cubic meters of recoverable oil equivalent.
  • This corresponds to between 6.3 and 18.9 million barrels of recoverable oil equivalent.
  • The well is located in production licence 094, operated by Equinor with 40.95% working interest.
  • Partners include Vr Energi holding 34.3%, Petoro 14.95%, and TotalEnergies EP Norge 9.8% stakes.
  • The license was awarded on 9 March 1984 (8th licensing round on the Norwegian continental shelf (NCS)).

Sources:

  • Global Data Point (2022)