Equinor discovers gas, condensate in North Sea

09/07/2020 09:22 Natural Gas

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Proven reserves are between 3 and 10 million standard cubic meters of recoverable oil equivalent

Norway's Equinor and license partners Source Energy and Wellesley Petroleum discovered gas and condensate in exploration well 30/2-5 S Atlantis, located in the Norwegian North Sea, Equinor announced on Wednesday.

 

The company said that based on preliminary estimates the proven reserves are between 3 and 10 million standard cubic meters of recoverable oil equivalent, corresponding to 19-63 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. Now we will work on evaluating the potential for profitable and CO2 efficient recovery," said Nick Ashton, Equinor’s senior vice president for exploration in Norway and the UK.

 

The owners of the production license are Equinor with a 60% share, and Source Energy and Wellesley Petroleum each with a 20% interest.

Source: aa.com.tr

 

 

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