Norway's Equinor and partners Lundin and Spirit energy have struck oil at the Utsira High well in the North Sea, Equinor announced on Friday.
The Norwegian company, formerly known as Statoil, said the discovery is currently estimated to contain 15-35 million barrels of recoverable oil equivalent.
"We are very pleased to announce the first Equinor discovery," said Nicholas Ashton, Equinor鈥檚 senior vice president for exploration in Norway and the U.K.
"This is a good discovery which we expect will be commercial. In addition, the results from the drilling indicate an upside potential in this discovery," Ashton pointed out.
He added that the discovery is of good quality and will add new volumes in an important area of the North Sea.
When the full potential of the production license has been clarified, development will be considered towards the existing infrastructure in the area.
By Murat Temizer
Anadolu Agency
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