Equinor makes big oil find in Norway

Equinor and partners Vår Energi, Idemitsu Petroleum and Neptune Energy have made the biggest discovery so far this year on the Norwegian continental shelf (NCS).

Preliminary estimates place the size of the discovery between 12 and 19 million standard cubic metres of recoverable oil equivalent, corresponding to 75-120 million barrels of recoverable oil equivalent.

“The discovery revitalises one of the most mature areas on the NCS. With discoveries in four of four prospects in the Fram area during the past 18 months, we have proven volumes that in total will create considerable value for society,” says Nick Ashton, Equinor’s senior vice president for exploration in Norway.

Exploration wells 31/2-22 S and 31/2-22 A in the Blasto prospect of production licences 090, 090 I and 090 E were drilled about 3 kilometres southwest of the Fram field, 11 kilometres northwest of the Troll field and 120 kilometres northwest of Bergen.

“Equinor is already an industry leader in low-carbon production. The discoveries in the Fram area will help us reach our goal of a further 40% reduction by 2030 while maintaining the current production level,” adds Ashton.

Exploration well 31/2-22 S struck a total oil column of around 30 metres in the upper part of the Sognefjord formation and an oil column of around 50 metres in the lower part of the Sognefjord formation. The oil-water contacts were proven at 1860 and 1960 metres respectively.

Exploration well 31/2-22 A struck high-quality sandstone in the Sognefjord formation, but the reservoir is filled with water and the well is classified as dry.

Neptune Energy’s managing director in Norway, Odin Estensen said: “We are proud to be partnering with Equinor on such a significant discovery. Blasto is the first of two exploration wells we will drill in the Fram area this year, and fits with our strategy for exploration close to our existing infrastructure. These are important resources which can be brought into production quickly. It’s also a strategically important discovery for Neptune and underlines our commitment to continue growing our business in the Norwegian sector. In the last 15 months, we have participated in five exploration wells, and four of these have resulted in discoveries.”

Regarding the discovery to be commercially viable, the licensees will consider tying it to other discoveries and existing infrastructure in the area.

Well 31/2-22 S was drilled to a vertical depth of 2282 metres below sea level and a measured depth of 2379 metres below sea level. Well 31/2-22 A was drilled to a vertical depth of 2035 metres below sea level and a measured depth of 2207 metres below sea level.