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Equinor announces new oil discovery at Utsira High in North Sea

Norwegian oil firm Equinor ASA, formerly known as Statoil ASA, along with Lundin Petroleum AB (publ) and Spirit Energy Ltd. said June 8 that they have struck oil in the PL 167 license at the Utsira High in the North Sea.

Located 200 kilometers west of Stavanger and northwest of the Johan Sverdrup field, the discovery in Lille Prinsen well's main target is estimated to contain 15 million barrels to 35 MMbbl of recoverable oil. The well also appraised the 2004 gas discovery Verdandi in which the company maintains an estimate of 4 MMbbl to 11 MMbbl of recoverable oil.

One additional discovery was made with good reservoir quality, but the volume is yet to be evaluated. Equinor said that further work will determine whether the two shallower reservoirs can be commercially developed.

The PL 167 partnership consists of Equinor holding 60% and being the operator, and Spirit Energy and Lundin each have a 20% stake.