Equinor discovers more oil near Johan Castberg field
The Norwegian energy company has reported a discovery in a well located about six kilometres north of the Johan Castberg field in the Barents Sea.
A wildcat well drilled at the Skrugard North Tubåen prospect in the Barents Sea indicates a discovery of up to 1.7 million standard cubic metres (Sm³) of recoverable oil equivalent, the Norwegian Offshore Directorate reports. The finding corresponds to 10.5 million barrels of oil equivalent.
Equinor is the operator of the licence in partnership with Vår Energi and Petoro.
The well was drilled to a vertical depth of 1,521 metres below sea level by the semi-submersible rig Transocean Enabler. The water depth in the area is 361 metres. The location of the discovery is at 72,3°N.
According to the Offshore Directorate, the licensees are considering whether it will be possible to tie the field back to the Johan Castberg field.
The Johan Castberg field became the world’s northernmost offshore oil field in production when it officially opened in early 2025.
The field is located about 240 kilometres north of Hammerfest on the Norwegian mainland.
Equinor estimates that the field will produce oil for at least 30 years. At peak production, up to 220,000 barrels of oil will be produced per day. In total, the recoverable volumes are estimated at between 450 and 650 million barrels.
A 300-metre-long Floating Production Storage and Offloading (FPSO) vessel was built for the project. It is the largest vessel of its kind ever built by Equinor. Total investments are estimated at more than 80 billion NOK (€6.85 billion).
Related stories from around the North:
Canada: Gahcho Kué mine co-owner delisting from TSX signals financial distress, expert says, CBC News
Norway: ConocoPhillips gets Norway’s nod to restart fields, boost Europe gas supply, Reuters
Russia: Construction of Arctic LNG platforms resumes as China-made modules arrive in Belokamenka, The Independent Barents Observer
United States: Trump administration to auction oil drilling rights in Alaska wildlife refuge, Reuters
