Equinor Doubles Estimate for Major North Sea Gas Discovery

The Afrodite gas discovery in the Norwegian North Sea may contain twice the volumes initially thought, operator Equinor said on Thursday after drilling a new appraisal well.Afrodite, discovered in 2008, is near the Kvitebjørn gas and condensate field and also close to the Gullfaks field in the North Sea, which is 15 kilometers (9.3 miles) away from Kvitebjørn. Equinor considers the Afrodite discovery to be commercially viable. Data from the drilling of a branch appraisal well in the autumn of 2026 show that the recoverable gas volumes may be more than twice as large as previously estimated, the Norwegian major said.The recoverable volumes of gas and condensate are now estimated at between 77 and 180 million barrels of oil equivalent. The total volumes in the reservoir are about three times as large, but the reservoir properties mean that only parts of the resources can be recovered, Equinor said. “To find such large gas volumes in a mature area on the Norwegian continental shelf is very good,” said Kjetil Hove, Equinor’s executive vice president for Exploration & Production Norway.“We have long had faith in the Afrodite discovery, and this appraisal well has uncovered volumes far above expectations.”The company will continue to work to potentially tie back Afrodite to the Kvitebjørn platform. If development proceeds, the gas from Afrodite could be sent via existing infrastructure to the Kollsnes processing plant in Øygarden and on to the European market.Earlier this month, Equinor announced the discovery of gas at the Gullfaks field, which would help maintain production and activity at the production license in the northern part of the North Sea.Equinor plans to drill 20 to 30 exploration wells every year as it aims to sustain current production levels at least through 2035, the company said in January when it was awarded 35 new production licenses on the Norwegian continental shelf in Norway’s tender for mature exploration areas.Norway tries to maintain a high level of oil and gas production and exports for at least another decade, to boost the economy and deliver oil and gas to Europe.By Tsvetana Paraskova for Oilprice.comMore Top Reads From Oilprice.comOil Prices Fall as Vance Moves to Restart Iran Peace TalksInvestors From 119 Countries Pile Into Dangote’s Record Refinery IPOU.S. Lawmakers Warn Banks Against Trump's Russian Diesel Deal