EQNR - Equinor makes deepwater gas discovery offshore Norway

Equinor ( NYSE: EQNR ) said Wednesday it made a commercially viable gas discovery near the previous Irpa discovery in the Norwegian Sea believed to contain 2B-11B cm of recoverable gas, or 12.6M-69.2M boe.

Equinor ( EQNR ) discovered gas in production license 1128 in the Norwegian Sea and will consider tieback of the discovery to the Irpa field.

"Discoveries near existing infrastructure requires less volume in order to be commercially developed, and can be quickly put on stream with low CO2 emissions," Equinor ( EQNR ) executive Grete Haaland said of the discovery called Obelix Upflank.

Operator Equinor ( EQNR ) holds a 70% stake in the license while Petoro holds 20% and Wintershall Dea has 10%.

Equinor ( EQNR ) is one of the best-positioned companies to transition to a low-carbon future, VanEck writes in an analysis posted on Seeking Alpha .

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