Finance
Equinor makes gas discovery in Norwegian Sea, plans development
Published by Global Banking & Finance Review®
Posted on March 5, 2025
1 min readLast updated: January 25, 2026
Global Banking & Finance Review®
Company
Published by Global Banking & Finance Review®
Posted on March 5, 2025
1 min readLast updated: January 25, 2026
Equinor discovers significant gas reserves in the Norwegian Sea, with plans for rapid development leveraging existing infrastructure.
OSLO (Reuters) - Equinor and its partners have made a gas and condensate discovery in the Mistral South exploration well in the Halten area of the Norwegian Sea, and plan to develop the resources, the state-controlled company said on Wednesday.
Preliminary estimates indicate that the discovery holds recoverable reserves of between 19 million and 44 million barrels of oil equivalent, Equinor said in a statement.
"The licensees' assessment is that this is a commercial discovery, and they will consider tie-back to existing infrastructure or development together with other discoveries in the area," the company said.
Equinor holds a 50% stake in the exploration permit while Okea and Pandion each hold 20% and DNO holds 10%.
Mistral is a candidate for a quick development via a tieback to Equinor's ongoing Lavrans subsea development, DNO said in a separate statement.
"Given the good reservoir properties, the discovery likely allows for simplified development solutions," DNO said.
(Reporting by Terje Solsvik, Editing by Louise Heavens)
The article discusses Equinor's gas discovery in the Norwegian Sea and the company's development plans.
Equinor holds a 50% stake, while Okea, Pandion, and DNO hold 20%, 20%, and 10% respectively.
The discovery is estimated to hold between 19 and 44 million barrels of oil equivalent.
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