Equinor and Aker BP Discover New Gas Field in the North Sea
Norwegian oil companies Equinor (EQNR) and Aker BP (AKRBP.OL) have discovered a new gas field near the Balder production site on the Norwegian Continental Shelf, according to the Norwegian Offshore Directorate. The discovery is estimated at between 0.1 and 2.1 million standard cubic meters of recoverable oil equivalent. The well was drilled in an area close to existing infrastructure, which could allow for faster development through tie-backs to operational platforms. Norway aims to maintain high levels of production and exports as a key supplier of gas to Europe following the disruption caused by Russia's invasion of Ukraine. Equinor plans to drill 20–30 exploration wells annually in an effort to sustain current output until at least 2035, supporting both its long-term strategy and Norway’s energy security goals.
Tickers: $EQNR
Topics: Aker BP Equinor gas discovery North Sea Norwegian Continental Shelf