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

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

The deepwater well is located 300 km west of mainland Norway at a depth of 1,064 meters. The discovery is approximately 65 kilometers from existing infrastructure, including the Polarled pipeline and the Aasta Hansteen field, which could enable rapid and cost-effective development.

The PL 1194 license partners will continue to evaluate the discovery for potential development opportunities, with a focus on connecting to nearby infrastructure. This approach could reduce costs and minimize the carbon footprint associated with new development.

Berislav Gašo, OMV Vice President for Energy, emphasized the company’s commitment to increase the share of gas in its production portfolio to 60% by 2030 and stressed that this discovery strengthens OMV’s position as a reliable gas supplier in Europe.

OMV (Norge) AS holds a 40% share in the license, Vår Energi ASA and Inpex Idemitsu Norge AS each own 30%.