Key facts
- Equinor and Aker BP made a gas and condensate discovery in the North Sea.
- The discovery is located 16 km northwest of the Balder field.
- Preliminary estimates range from 0.1 to 2.1 million Sm3 of recoverable oil equivalent.
- The Norwegian Offshore Directorate announced the discovery.
- Norway is a key gas supplier to the EU and UK following reduced Russian supply.
Norwegian energy companies Equinor and Aker BP have announced a new gas and condensate discovery in the North Sea, situated near the existing Balder field. The Norwegian Offshore Directorate confirmed the find on Monday, noting the exploration well was drilled approximately 16 kilometers northwest of Balder.
Preliminary assessments suggest the discovery holds between 0.1 and 2.1 million standard cubic meters (Sm3) of recoverable oil equivalent. The companies are currently evaluating the well results alongside previous findings in the license area to determine further exploration potential.
This discovery aligns with Norway's strategy to leverage existing infrastructure for new projects, aiming to maintain high oil and gas production levels for at least another decade. Norway has become a crucial energy supplier to the EU and UK, particularly since Russian gas supplies were curtailed. Equinor, a major player, plans to conduct 20 to 30 exploration wells annually to sustain production through 2035.