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Norway's Equinor finds 6-25 million boe of gas and condensate

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Discovery made at Ragnfrid North exploration well

Equinor partners with Petoro, ExxonMobil, Total

London — Norway's Equinor has discovered recoverable gas and condensate resources estimated at 6 milion-25 million barrels of oil equivalent, the company said Wednesday.

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The discovery was made in the Norwegian Sea Ragnfrid North exploration well, around 20 kilometers south of the Kristin platform, and will help clarify the resource base in the area for the next few years, it said.

The find was made by Equinor and its partners in the project, Petoro, ExxonMobil and Total.

"We are pleased to start the new year by announcing a new discovery," Nick Ashton, Equinor's senior vice president for Norway and the UK, said in a statement.

"Exploring for resource close to existing infrastructure is a central part of Equinor's strategy to further develop the Norwegian continental shelf. We need this kind of discoveries in the years to come."

The new discovery, together with former discoveries at Lavrans and Erlend East, will provide a more detailed picture of the potential in area, he said.

"The license partners will now evaluate the discovery for development and tie-in to the Kristin field and further maturing of the Kristin South project," the company said.

--Frank Watson, frank.watson@spglobal.com

--Edited by Jonathan Fox, newsdesk@spglobal.com