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Equinor: finds gas in well in Norwegian Sea

(CercleFinance.com) - Equinor and its partners have found gas in an exploration well based in the Norwegian continental shelf, the energy firm said on Tuesday.


Recoverable resources are estimated at 8 million-14 million standard cubic metres of oil equivalent, Equinor said, corresponding to 50 million-88 million barrels of oil equivalent (boe).

This is good news, the company added, as the discovery proves that there are still opportunities on the Norwegian continental shelf, it said.

Equinor also said this Tuesday that it has started production from the Utgard gas and condensate field, spanning the Norwegian-UK border in the North Sea.

The project - which was discovered in 1982 and for which it has considering developing several times - has been delivered ahead of schedule and 25% below its estimated cost, it noted.

Its recoverable resources are estimated at around 40 million barrels of oil equivalent (boe).

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