Equinor ASA on Tuesday announced another oil discovery around the Johan Castberg field on Norway’s side of the Barents Sea, with preliminary estimated recoverable resources of 24 million barrels of oil equivalent.
The Barents Sea oilfield, Norway’s northernmost, reached peak production less than three months after start-up, with oil cargoes worth up to USD 46 million departing every few days. Norwegian suppliers provide 95% of operational deliveries.
“Johan Castberg opens a new region for oil recovery and will create more opportunities in the Barents Sea”, added Kjetil Hove, Equinor executive vice president for exploration and production in Norway. “We’ve already made new discoveries in the area and will keep exploring together with our partners.