Equinor Announces Oil and Gas Discovery in the North Sea

Equinor, a Norwegian energy company, has announced a significant oil and gas discovery in the North Sea, preliminarily named Ringand. This find is estimated to contain recoverable resources ranging from 2 million to 13 million barrels of oil equivalent.

Located 17 kilometers west of the Troll field, this marks the company’s second discovery in the region, highlighting potential for future exploration.

Geir Sortveit, the Senior Vice President for Exploration and Production West on the Norwegian continental shelf at Equinor, noted that while the discovery itself may not be commercially viable, it could foster more efficient resource utilization and enhance economics if integrated with other nearby finds.

Equinor holds a 60% stake in the production license associated with this discovery. DNO ASA, an oil and gas company, retains a 20% interest, while Petoro, the Norwegian state-owned oil and gas entity, also possesses 20%.

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