Italian Eni, through Var Energi, announced a new oil discovery in the production license PL532 in the Barents Sea by drilling the Isflak exploration prospect, Eni said in a statement on Wednesday.
The well is located about 10 kilometers southwest of the Skrugard discovery and 230 kilometers northwest of Hammerfest. It was drilled at a water depth of 349 meters by the semi-submersible drilling rig, Transocean Enabler.
'Preliminary estimates place the size of the discovery between 65 and 100 million barrels of oil equivalent (Mboe) hydrocarbons in place,' the statement read.
According to the statement, Var Energi AS holds a 30% stake in the license, while the operator, Equinor Energy, holds a 50% share and Petoro AS holds the remaining 20% interest.
The Isflak discovery confirms Var Energi's successful infrastructure-led exploration strategy in the Barents Sea, proofing additional high value barrels for the Johan Castberg project, the statement said.
Var Energi is jointly owned by Eni and private equity investor HitecVision.
By Gulsen Cagatay