Nov 11 (Reuters) – ConocoPhillips said on Wednesday it has discovered gas condensate offshore Norway, sending the oil producer’s shares up 2% in premarket trade.
The discovery was made northwest of the Heidrun oil and gas field and 150 miles (241.4 km) from the coast of Norway in the Norwegian Sea.
The company said preliminary estimates place the size of the discovery between 50 million barrels and 190 million barrels of recoverable oil equivalent.
It added that further appraisal will be conducted to determine potential flow rates, the reservoir’s ultimate resource recovery and plans for development.
“The Warka (well) discovery and potential future opportunities represent very low cost of supply resource additions that can extend our multi-decade success on the Norwegian Continental Shelf,” Chief Operating Officer Matt Fox said.
ConocoPhillips Skandinavia AS is operator of the production license with 65% working interest, while PGNiG Upstream Norway AS holds the rest of the working interest. (Reporting by Arunima Kumar in Bengaluru)
Dive into a sea of information with our meticulously curated weekly “Dispatch” email. It’s more than just a newsletter; it’s your personal maritime briefing.
Dive into a sea of information with our meticulously curated weekly “Dispatch” email. It’s more than just a newsletter; it’s your personal maritime briefing.
Maersk Supply Service has partnered with Edison Chouest Offshore (ECO) to speed up the installation of offshore wind farms in the United States. The partnership centers on unique a windfarm feeder concept...
New York Governor Kathy Hochul has announced the completion of South Fork Wind, America’s first utility-scale offshore wind farm. With all 12 offshore wind turbines constructed, the project is now...
March 13 (Reuters) – Energy firm Equinor on Wednesday announced the first Federal Energy Regulatory Commission (FERC) approval for an offshore wind project to connect directly into the New York City transmission system. FERC on...
March 13, 2024
Total Views: 2271
Why Join gCaptain Club?
Be Informed: Stay updated with the latest maritime news and trends.
Connect: Network with a community of maritime professionals and enthusiasts.
Gain Insights: Receive exclusive content and personal perspectives from our CEO.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.