Eni through Vår Energi, jointly owned by Eni (69.85%) and HitecVision (30.15%) has announced new oil discovery in production licence 554 in the North Sea by drilling the exploration well 34/6-5 S in the Garantiana West prospect, a press release reported.

The well 34/6-5 S is located 30 km of the Snorre field at a depth of 385m, and it has been tested and achieved robust results with maximum production rate of 1,200 standard cubic meter of oil and 3,800 of gas per day.
In addition, initial estimates of the well prove existence of hydrocarbons between 35 to 65 million barrels of oil equivalent (mmbloe).
Garantiana West is considered a commercial discovery and it is planned to be co-developed as part of the Garantiana Main discovery, both are planned to be tied into nearby infrastructure of the producing Snorre field.

It is worthy noting that Var Energi holds 30%of the license, while Equinor holds a stake of 40% and Aker BP holds 30%.