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Oil discovery from Visund in the North Sea

 Oil discovery from Visund in the North Sea

Wednesday، 06 March 2019 | Article Rating

Equinor has, together with partners Petoro, ConocoPhillips and Repsol, made an oil discovery from the Visund A platform in the Telesto exploration well in the North Sea. The resources are estimated at 12-28 million barrels of recoverable oil.

“We are pleased to have made a new discovery on Equinor-operated acreage on the Norwegian continental shelf (NCS). These are profitable barrels that can be quickly tied in to existing infrastructure and generate substantial revenues for society. Infrastructure-led exploration is an important part of our roadmap for the NCS”, says Nick Ashton, Equinor’s senior vice president for exploration in Norway and the UK. 

The Telesto exploration well is drilled from the Visund A platform in the Tampen area in the northern North Sea. It is well number 34/8-18 S in production licence 120. Telesto was spudded on 9 February.

“We have a well developed infrastructure that enables high generation of value in the North Sea. We have set ourselves an ambitious goal of sustaining high production from the NCS for decades, and discoveries like this are essential towards this end. It will be natural to tie in the resources to the Visund A platform,” says Gunnar Nakken, Equinor’s senior vice president for Operations West.

Geological data have been acquired for further analysis, and the well has been plugged and abandoned. Equinor will now, together with partners Petoro, ConocoPhillips and Repsol, conside how to develop this discovery. For further details about the exploration well, cf. the Norwegian Petroleum Directorate’s press release.

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Pasargad Energy Development Co. (PEDC) is an independent energy company based in Iran. PEDC is an integrated energy company whose activities span the entire value chain including exploration, production, refining, petrochemicals marketing, power generation & renewables as well as new high-tech venture capitalizing. Our headquarter is located in Tehran. PEDC is present across the Iranian continental shelf and international market through its subsidiaries. We create value for our shareholders through active investment, high-level monitoring of our projects, building world-class partnership and managing our risks effectively and making balanced portfolio. Meantime, we contribute to the sustainable development of the energy sector and communities in our country. PEDC’s competitiveness relies upon our values-based performance culture, with a strong commitment to transparency, cooperation and continuous operational improvement. As a wholly owned subsidiary of the Pasargad Financial Group, with Pasargad Bank being a distinctive shareholder, we owe our success to our experience, management knowledge and strong local/international partnerships since 2008. PEDC is committed to maintaining sustainability and being recognized as the strategic partner of choice in Iran’s energy and petrochemical sector.​

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