Eni announces offshore oil discovery in Norway

Oil giant Eni announced new oil discovery through Var Energi in the Barents Sea. According to the company: “Eni through Var Energi, jointly owned by Eni (69.85%) and by HitecVision (30.15%) announces a new oil discovery in production license PL532 in the Barents Sea by drilling the exploration well 7220/7-4 on the Isflak exploration prospect. Var Energi AS holds a 30% stake in the licence, while Equinor Energy (which is the Operator) holds 50% and Petoro AS 20%,” the company said in a statement. The well is situated approximately 10 km southwest of the Skrugard discovery and 230 km northwest of Hammerfest in a water depth of 349 m. It was drilled with the semisubmersible drilling rig Transocean Enabler,”. The discovery is estimated to contain between 65-100 million barrels of oil.