Equinor ASA announced a significant gas discovery at Gullfaks South, about 190 kilometers northwest of Bergen. Estimated recoverable resources range from 3.3 million to 10.3 million barrels of oil equivalent.
The discovery came from a cost-effective exploration well drilled as a sidetrack from an existing production well. Equinor said the resources will be profitable and help maintain activity and production at the Gullfaks field.
Equinor shares rose 3% in premarket trading following the announcement.