#SONews – Oil and Gas discovery in the North Sea
Equinor ASA, a Norwegian multinational energy company and their partners Exxon Mobil Exploration and Production Norway AS, Idemitsu Petroleum Norge AS and Neptune Energy Norse AS have discovered oil and gas in exploration well Echino South, 35/11-23 which is located by the Fram field in the North Sea.
This exploration find adds considerably to the resources in that part of the North Sea, which is likely to be linked to existing infrastructure. The resources recovered are estimated to 6-16 million standard cubic metres of oil equivalent, corresponding to 38-100 million barrels of oil equivalent. Increased knowledge about the area and new area investments have increased confidence in exploration opportunities in the northern North Sea.
Equinor has a 45% stake in the find. Exxon Mobil holds a 25% and Idemitsu and Energy both hold a 15% each.
The well will be permanently plugged and abandoned after side-track 35/11-23 A has been drilled.