Equinor (EQNR.OL) aims to increase the resource base at the Johan Castberg field in the Barents Sea, Norway, by an additional 200 million barrels of oil to 500 million barrels of oil through continued exploration and development activities.
The Norwegian energy company noted that the resource base for Johan Castberg was originally estimated at between 500 million barrels of oil and 700 million barrels of oil, according to a Thursday release.
Meanwhile, the company has already started the development work at Isflak, which is the first subsea field to be tied back to Johan Castberg. The company also made the Polynya and Drivis Tubåen discoveries in the area, with Drivis Tubåen to be tied into existing infrastructure at Johan Castberg as an investment decision for it has already been made.