Equinor and its partners Petoro and TotalEnergies have discovered oil and gas near Norway’s Oseberg field, with preliminary estimates indicating recoverable resources of 19 million to 50 million barrels of oil equivalent (mmboe) (3 million to 8 million cubic meters (mmcm).

Equinor plans to accelerate development by using existing infrastructure to reduce costs and improve resource recovery. The Grimsnes discovery will likely be developed using two or three wells connected to a standard four-slot subsea template. Procurement of subsea production equipment is planned for early 2027, ahead of the final investment decision, with standardized equipment allowing redeployment if the project is not approved.

Equinor said the discovery reinforces the attractiveness of the area surrounding Oseberg, as Norway seeks to sustain production and maintain reliable energy supplies to Europe amid declining output from mature fields.

Norway supplies around 20% of Europe’s oil and 30% of its gas needs. To support future production, Equinor plans to drill 200 near-field exploration wells and deliver around 75 subsea developments by 2035.

The company aims to maintain production of 1.3 million barrels of oil equivalent per day (mmbbl/d) on the Norwegian continental shelf in 2035, with around 70% expected to come from new wells and developments.

Equinor and its partners recently discovered gas at the Gullfaks South field in the North Sea, with estimated recoverable resources of 3.3 million to 10.3 million barrels of oil equivalent. The discovery reinforces exploration efforts in Norway’s mature offshore fields.