Equinor Announces New Oil Discovery in Barents Sea Near Johan Castberg Field

Norwegian energy company Equinor has announced a new oil discovery at a well near the Johan Castberg field in the Barents Sea.

Equinor and its partners Vår Energi and Petoro struck oil in exploration well 7220/7-4 in production license 532. The well is located about 10 kilometers southwest from the Johan Castberg field, and 210 km northwest of Hammerfest.

Recoverable resources are so far estimated at between 5 and 8 million standard cubic meters of recoverable oil, corresponding to 31 – 50 million barrels of recoverable oil.

Exploration well 7220/7-4 is the first of four planned exploration wells for Equinor in the Barents Sea this year.

“Succeeding in the Barents Sea requires perseverance and a long-term perspective. This discovery strengthens our belief in the opportunities that exist, not least around the Castberg, Wisting, Snøhvit and Goliat areas,” says Nick Ashton, Equinor’s senior vice president for exploration in Norway.

Equinor reports that the latest well was drilled by the Transocean Enabler, which struck 109 meters of oil at a vertical depth of 1788 meters below sea level. The expected gas cap was not encountered in the well.

Transocean Enabler will now return to the Equinor-operated Johan Castberg field where it will continue drilling.

“Equinor has been developing strong specialist communities for exploration, development and operations in Harstad and Hammerfest over many years. The follow-up of this discovery may strengthen this work,” says Ashton.