Equinor reports "profitable" oil discovery from the Visund A platform

3/4/2019

STAVANGER -- Equinor has, together with partners Petoro, ConocoPhillips and Repsol, made an oil discovery from the Visund A platform in the Telesto exploration well in the North Sea. The resources are estimated at 12-28 MMbbl of recoverable oil.

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Source: Equinor.

“We are pleased to have made a new discovery on Equinor-operated acreage on the Norwegian continental shelf (NCS). These are profitable barrels that can be quickly tied in to existing infrastructure and generate substantial revenues for society. Infrastructure-led exploration is an important part of our roadmap for the NCS,” said Nick Ashton, Equinor’s senior V.P. for exploration in Norway and the UK.

The Telesto exploration well is drilled from the Visund A platform in the Tampen area in the northern North Sea. It is well number 34/8-18 S, in PL 120. Telesto was spudded on Feb. 9.

“We have a well developed infrastructure that enables high generation of value in the North Sea. We have set ourselves an ambitious goal of sustaining high production from the NCS for decades, and discoveries like this are essential towards this end. It will be natural to tie in the resources to the Visund A platform,” says Gunnar Nakken, Equinor’s senior V.P. for Operations West.

Geological data have been acquired for further analysis, and the well has been plugged and abandoned. Equinor will now, together with partners Petoro, ConocoPhillips and Repsol, conside how to develop this discovery.

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