Equinor discovers up to 10.3 million boe of gas at Gullfaks South field, shares up
JHVEPhoto
- Equinor (EQNR) and its partners have discovered gas at the Gullfaks South field, 190 kilometers northwest of Bergen, it said Thursday. Between 0.5 million and 1.6 million standard cubic meters of recoverable oil equivalents have been discovered, the company said.
- This corresponds to 3.3 to 10.3 million barrels of oil equivalent. The exploration well was drilled as a sidetrack in connection with the drilling of a production well.
- “It is very positive that it is possible to make discoveries of this size with such cost-effective exploration wells. These will be profitable barrels that can help maintain activity and production on the Gullfaks field," said Gunnar Egge, Equinor’s vice president for the Gullfaks field.
- The drilling rig Askeladden has drilled the well. The discovery is within the production licence for Gullfaks and thus has the same owners as Gullfaks, the statement said.
- Equinor shares rose 3% premarket trading.
Recommended For You
Create Your Free Account to Keep Reading
Get the confidence to navigate an uncertain market with free breaking news and stock alerts.
KioskNews shows a cleaned-up reading view extracted from the publisher’s page — the original always lives on their site, not ours.