Italian Eni announced on Tuesday a new oil discovery in production license PL027 located in the Southern North Sea.
Preliminary estimates place the size of the discovery between 220 and 360 million barrels of oil equivalent hydrocarbons in place with a total column of approximately 86 meters.
The discovery was made through Var Energi, a joint venture between Eni and HitecVision.
Var Energi holds a 90% interest in the license as operator and Mime Petroleum holds the remaining 10% stake.
The well is considered a commercial discovery and is located at a water depth of 128 meters.
Var Energi has ownership in 137 licenses and oil and gas production from 35 fields, and operates over the whole Norwegian continental shelf, the Goliat field in the Barents Sea, the Marulk field in the Norwegian Sea and the Balder and Ringhorne fields in the North Sea.
By Sibel Morrow