Eni announces a new oil discovery in the western Barents Sea within licence PL 532, the new discovery has been made through the exploration well 7220/5-3, drilled in a water depth of 409 m in the Skruis Prospect in License PL 532 (Equinor 50% Op., Eni 30% and Petoro 20%).

The exploration well is located approximately 230 kilometres northwest of Hammerfest and a few kilometres north of the Johan Castberg field for which the plan for development and operation (PDO) was approved in June 2018 and production is expected to start in 2022.

The well was planned to test the hydrocarbon potential of the Middle Jurassic Sequence and encountered 34 metres of light oil column in a single sandstone layer with excellent reservoir properties.

Preliminary estimates of the size of the discovery range between 50 and 60 million barrels of oil in place, 15 –25 million barrels of oil recoverable, with further potential to be evaluated.

The well will be permanently plugged and abandoned after an extensive data collection and sampling programme.

The Skruis discovery is part of Eni’s “near field” exploration strategy that, in case of success, allows the exploitation of these thanks to the synergies with future infrastructures.

Eni has been present in Norway since 1965, with current production standing at approximately 150,000 barrels of oil equivalent per day through its subsidiary Eni Norge AS.

About ENI

Eni is an integrated energy company employing more than 34.000 people in 69 countries in the world. Eni engages in oil and natural gas exploration, field development and production, as well as in the supply, trading and shipping of natural gas, LNG, electricity and fuels. Through refineries and chemical plants, Eni processes crude oil and other oil-based feedstock to produce fuels, lubricants and chemical products that are supplied to wholesalers or through retail networks or distributors.

About Equinor

Equinor, is an international energy company with a proud history. Formerly Statoil, we are 20,000 committed colleagues developing oil, gas, wind and solar energy in more than 30 countries worldwide. We’re the largest operator in Norway, among the world’s largest offshore operators, and a growing force in renewables. Driven by our Nordic urge to explore beyond the horizon, and our dedication to safety, equality and sustainability, we’re building a global business on our values and the energy needs of the future.

About Petoro

The Norwegian state has substantial holdings in production licences on the Norwegian continental shelf (NCS) through the State’s Direct Financial Interest (SDFI). These assets are managed by Petoro AS. The company’s most important job is to help ensure the highest possible value creation from the SDFI to the benefit of the whole of Norway.