BAKU, Azerbaijan, December 17. Equinor has announced a new oil and gas discovery located 17 kilometers west of the Troll field in the North Sea. The find, preliminarily named Ringand, is estimated to contain between 2 and 12 million barrels of oil equivalent (boe), TurkicWorld reports.
Measured in standard cubic meters, the volume is estimated at between 0.3 and 2 million. The discovery, consisting of both oil and gas, is relatively small and is unlikely to be commercially viable for standalone development.
"This is a small discovery, but it is in an area with significant infrastructure already in place," said Geir Sørtveit, Equinor's senior vice president for Exploration & Production West on the Norwegian continental shelf. "If additional resources are identified, there is potential to combine these discoveries to optimize resource utilization and economic feasibility."
The Ringand well was drilled by the Deepsea Atlantic drilling rig. This marks the second discovery in the area within a short period, underscoring its exploration potential. Equinor plans to continue further exploration efforts in the region.
