Norwegian energy major Equinor has made two new discoveries of gas and condensate in the North Sea, marking its largest finds of the year.
The company announced Friday that initial estimates indicate the reservoirs at the Lofn and Langemann wells could contain between 30 million and 110 million barrels of recoverable oil equivalent.
These discoveries were made in an area west of Norway known as Sleipner and can be developed for the European market using existing infrastructure.
“This demonstrates the importance of maintaining exploration activity on the Norwegian continental shelf,” said Kjetil Hove, executive vice president for exploration and production Norway at Equinor.
“There are still significant energy resources on the shelf, and Europe needs stable oil and gas deliveries.”
The finds represent a potential boost to European energy supplies at a time when stable sources of oil and gas remain crucial to the region’s energy security.
