April 2, 2019 / 8:18 AM / in 18 days

Equinor drills another dry well in southeastern Barents Sea

OSLO, April 2 (Reuters) - Oil and gas company Equinor has drilled a dry well in the Gjoekaasen Deep prospect in the southeastern part of the Barents Sea, the Norwegian Petroleum Directorate said on Tuesday.

This was the second exploration well drilled in the production licence 857 which was awarded in the 23rd licensing round in 2016.

A first well targeting a shallow prospect was also dry, the Petroleum Directorate said on Feb. 12.

Equinor’s partner Aker BP has estimated potential resources from the Gjoekaasen prospect at 26 million barrels of oil equivalent (boe) to 1.4 billion boe.

The Petroleum Directorate estimates that the Barents Sea holds about two thirds of yet to be discovered petroleum resources on the Norwegian continental shelf.

Equinor has 40 percent stake in the licence, while Aker BP, Lundin Petroleum and Petoro each hold 20 percent interest.

Reporting by Nerijus Adomaitis. Editing by Jane Merriman

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