OMV makes “significant” gas discovery in Norwegian Sea, estimates up to 140 million barrels

(WO) — OMV (Norge) AS, the operator of the PL 1194 license, announced a significant gas discovery in the Norwegian Sea. The well, drilled by the Transocean Norge rig, encountered estimated recoverable volumes between 30 million and 140 million barrels of oil equivalent (MMboe).

Located 300 km west of the Norwegian mainland, the deepwater well is positioned at a depth of 1,064 meters. The discovery is about 65 kilometers from existing infrastructure, including the Polarled pipeline and the Aasta Hansteen field, potentially allowing for a swift and cost-effective development.

The PL 1194 license partners will further assess the discovery for possible development, with a focus on connecting to nearby infrastructure. This approach could reduce costs and minimize the carbon footprint associated with new developments.

Berislav Gašo, OMV’s executive vice president for energy, highlighted the company’s commitment to increasing the share of gas in its production portfolio to 60% by 2030, emphasizing that this discovery strengthens OMV’s position as a reliable gas supplier in Europe.

OMV (Norge) AS holds a 40% working interest in the license, with Vår Energi ASA and Inpex Idemitsu Norge AS each holding 30%.