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Norwegian oil found oil off Norway area 554

Equinor revealed that Equinor and its partners Var Energi and Aker BP have found oil in the production license area 554 off Norway – Norwegian oil

Norwegian oil Petro National Oil stressed that the recoverable resources at the discovery site are estimated to be between 1.3 million and 3.6 million cubic meters of standard oil equivalent, which is equivalent to 8 million to 23 million barrels of oil equivalent.

Norway Oil pointed out that the licensee will consider linking the discovery to the Garantiana oilfield development project. This is the fifth well exploration in Production License No. 554, which was granted in February 2010 as part of APA 2009.

“This is the first oil well in the production license zone of Ngo Oil and the fifth one found this year in the Norwegian continental shelf,” said Rune Nedregaard, senior vice president of exploration and production in the South of Petroed oil, in a company statement.

“This finding is in line with our roadmap to explore near existing infrastructure to improve commerciality,” the NNOO representative added in a statement.

In April this year, Norwegian Oil announced that it had discovered oil and gas in the new block of Tyrihans oil field in the Norwegian Sea with its partners Total Exploration and Production Company and Var Energi. The recoverable resources are estimated to be between 19 million and 26 million barrels of oil equivalent. In March this year, the company announced that it and partners had harvested two discoveries on the Norwegian continental shelf, one near the Fram oil field, which has an estimated 75 to 120 million barrels of recoverable oil equivalent, and the other near the Johan Castberg oil field, which is estimated to have 31 million and 50 million barrels of oil can be extracted.

Norway Oil first discovered oil near the Troll oil field in the North Sea in 2021. It is estimated that the recoverable resources in the area range from 44 million to 69 million barrels of oil equivalent.

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