Skip to main content

Norwegian oil and gas firm Equinor has found more oil near its Johan Castberg field in the Arctic Barents Sea, the company said on Monday.

The Skruis exploration well, drilled about 8 kilometres north of the original discovery, indicated a volume of 12 to 25 million recoverable barrels of oil.

“The Skruis discovery confirms the potential in this part of the Barents Sea … The partners will now further consider tie-in of the discovery to Johan Castberg,” Equinor said.

Story continues below advertisement

The Castberg field, estimated to hold 450 to 650 million barrels of oil, excluding Skruis, is expected to start in 2022.

The time frame for developing Skruis would depend on the availability of spare capacity at Johan Castberg production facilities, which are likely to be fully utilized until 2026-2027, the company added.

Equinor, the operator, holds a 50 per cent stake in the Johan Castberg license, while Eni has 30 per cent and Norway’s state-owned Petoro the remaining 20 per cent.

Equinor plans to drill three wells in the Barents Sea this year, and to participate as a partner in a fourth.

Report an error
Tickers mentioned in this story
Unchecking box will stop auto data updates
Comments

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff. Non-subscribers can read and sort comments but will not be able to engage with them in any way. Click here to subscribe.

If you would like to write a letter to the editor, please forward it to letters@globeandmail.com. Readers can also interact with The Globe on Facebook and Twitter .

Welcome to The Globe and Mail’s comment community. This is a space where subscribers can engage with each other and Globe staff.

We aim to create a safe and valuable space for discussion and debate. That means:

  • All comments will be reviewed by one or more moderators before being posted to the site. This should only take a few moments.
  • Treat others as you wish to be treated
  • Criticize ideas, not people
  • Stay on topic
  • Avoid the use of toxic and offensive language
  • Flag bad behaviour

Comments that violate our community guidelines will be removed. Commenters who repeatedly violate community guidelines may be suspended, causing them to temporarily lose their ability to engage with comments.

Read our community guidelines here

Discussion loading ...

Due to technical reasons, we have temporarily removed commenting from our articles. We hope to have this fixed soon. Thank you for your patience. If you are looking to give feedback on our new site, please send it along to feedback@globeandmail.com. If you want to write a letter to the editor, please forward to letters@globeandmail.com.
Cannabis pro newsletter