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Stock impact report

Equinor confirms oil discovery in North Sea's Snorre area [Yahoo! Finance]

Equinor ASA (EQNR) 
Last equinor asa earnings: 2/6 12:43 am Check Earnings Report
Company Research Source: Yahoo! Finance
Equinor has announced a commercial oil discovery in the Norwegian North Sea's Snorre area, with estimates indicating between 25 and 89 million barrels of recoverable oil equivalent. Dubbed Omega South, the discovery was made in production licence (PL) 057 by drilling the exploration well 34/4-19 S. It forms part of Equinor's new approach to accelerating subsea field development. Located 1.6km east of the Snorre field, the well was drilled by the Deepsea Atlantic rig at a water depth of 381m. Equinor and its partners plan to rapidly tie the new find into existing infrastructure, specifically producing through the Snorre A platform. This is expected to reduce costs and shorten the timeline for bringing new volumes online. Partners in PL 057 are Equinor as operator (31% stake), Petoro (30%), Harbour Energy Norge (24.5%), INPEX Idemitsu Norge (9.6%) and Vår Energi (4.9%). Equinor project development senior vice-president Trond Bokn said: “What is new is that we are now planning Show less Read more
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