Equinor Strikes Oil and Gas Discovery in Norwegian North Sea

Strategic Insights -

Norway's majority state-owned Equinor has made a significant oil and gas discovery in the North Sea, approximately nine kilometers north of the Troll field. The well, 35/11-31 S, has estimated recoverable resources of 0.1-1.1 million standard cubic meters of oil equivalent, or 0.6-6.9 million barrels of oil equivalent. The discovery, conducted by the COSL Innovator rig, targeted reservoir rocks from the Late Jurassic and Middle Jurassic formations, with a five-meter oil column and four-meter gas column encountered in the Sognefjord and Brent Group formations, respectively.

Key Takeaways:

  • The well, 35/11-31 S, is located approximately nine kilometers north of the Troll field in the Norwegian North Sea.
  • The discovery has estimated recoverable resources of 0.1-1.1 million standard cubic meters of oil equivalent, or 0.6-6.9 million barrels of oil equivalent.
  • The well targeted reservoir rocks from the Late Jurassic (Sognefjord Formation) and Middle Jurassic (Brent Group) formations, with a five-meter oil column and four-meter gas column encountered.
  • A four-meter gas column was encountered in a 68-meter thick sandstone layer with moderate to good reservoir properties.
  • The well was not formation-tested, but extensive volumes of data and samples were collected.
  • Equinor, the operator, plans to consider tying the new discovery back to existing or future infrastructure.
  • The discovery is part of Equinor's efforts to further explore the area, following several discoveries since 2019, including Echino South, Swisher, Rover North, and others.
  • The Fram South project, a subsea tieback to the existing Troll C platform, holds estimated recoverable volumes of 116 million barrels of oil equivalent, with a planned start of production in 2029.
  • Equinor's exploration and production efforts in the Norwegian North Sea have led to significant discoveries and production, including the Fram West and Fram East fields, which went onstream in 2003 and 2006, respectively.

Statistics:

  • Estimated recoverable resources: 0.1-1.1 million standard cubic meters of oil equivalent (0.6-6.9 million barrels of oil equivalent)
  • Depth of well 35/11-31 S: 2636 meters below sea level
  • Water depth at the site: 354 meters
  • Length of sandstone layer with moderate to good reservoir properties: 68 meters
  • Duration of drilling: [Not specified]
  • Cost of developing Fram South project: NOK-21 billion ($2.07 billion)
  • Estimated recoverable volumes of Fram South project: 116 million barrels of oil equivalent
  • Production start date for Fram South project: 2029

Sources:

  • Norwegian Offshore Directorate
  • Equinor ASA
  • Equinor Energy AS
  • Var Energi ASA
  • INPEX Idemitsu Norge AS
  • Global Data Point
  • SyndiGate Media Inc.