Sval Energi has made an oil discovery in the central part of the North Sea.

Jørgen Moe, VP Exploration at Sval Energi, said: “Our strategy of exploring for oil and gas in mature areas on the Norwegian continental shelf is paying off. Sval’s estimate of the size of Ringhorne North is 16 to 29 million barrels of oil equivalent (mmboe), which we think is a commercial discovery that can be tied into existing infrastructure in the area.”

Ringhorne North is located in production license (PL) 956. The wells were drilled by the semi-submersible rig Deepsea Yantai whose next mission is to drill the Cerisa exploration well in the northern North Sea.

PL 956 was awarded in the Awards in Predefined Areas (APA) licensing round in 2018. The license partners are Sval Energi (15%), Vår Energi (operator, 50%), Aker BP (20%) and Harbour Energy (15%).

About Sval Energi

Sval Energi is a Norwegian E&P company with operations on the Norwegian continental shelf. The business had a production of 70,000 net barrels of oil equivalent per day in 2022. Sval Energi is committed to emission reductions aligned with the targets set by Offshore Norge of 50 percent reduction by 2030 and net-zero by 2050, with CCS as a tool in its decarbonisation strategy.