Equinor Makes Gas Find in the North Sea

By Dominic Chopping

Equinor has made a commercially viable gas discovery by the Gina Krog field in the North Sea, it said Monday.

The Norwegian energy major said the discovery is small, with recoverable volumes estimated to be between 5 million and 16 million barrels of oil equivalent, but gas production can start as early as the fourth quarter of 2023.

"The discovery will help extend the lifetime and strengthen the profitability of Gina Krog," said Camilla Salthe, senior vice president for field life extension at Equinor.

"It will quickly bring new gas to Europe with good profitability and low carbon dioxide emissions from production."

Equinor said that when the energy crisis hit in 2021, there was close collaboration with Norwegian authorities to deliver the maximum amount of gas to Europe. The Gina Krog partnership significantly increased its gas export by including gas previously used in the oil-extraction process. At the same time, it accelerated projects that could extend the lifetime of the field.

Equinor is operator of Gina Krog with the Kuwait Foreign Petroleum Exploration Company and Polskie Gornictwo Naftowe i Gazownictwo as partners.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

November 06, 2023 07:17 ET (12:17 GMT)

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