Equinor Doubles Reserves At Norne Field With Cape Vulture Discovery

Equinor (NYSE: EQNR) has confirmed a new play and doubled the remaining oil reserves to be produced at the Norne Field with Cape Vulture, one of the operator’s latest discoveries on the Norwegian Continental Shelf.

Shutdown of the field, which began production in 1997, was originally planned for 2014; however, added volumes have extended its life to 2036, the Norwegian major said in a news release Oct. 4. The appraisal wells, drilled by the Songa Encourage rig, on the Cape Vulture discovery confirmed a volume potential of between 50 million barrels (MMbbl) and 70 MMbbl of recoverable oil and a new play on the Nordland Ridge.

“Cape Vulture came as a gift in early 2017, and it confirmed that exciting subsurface secrets still remain to be unlocked in the Norne area,” Siri Espedal Kindem, Equinor’s senior vice president, operations north, said in a news release. “Our exploration people have been scrutinizing the area for more than 40 years, and they are still cracking codes.”