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    Finance

    Equinor makes gas discovery in Norwegian Sea, plans development

    Published by Global Banking and Finance Review

    Posted on March 5, 2025

    Featured image for article about Finance

    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)

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