Wedoany.com Report-Mar 5, Equinor (EQNR.OL), and its partners have made a gas and condensate discovery in the Mistral South exploration well in the Halten area of the Norwegian Sea, and plan to develop the resources, the state-controlled company said on Wednesday.

The logo of Equinor is set up at the entrance of a building at Western Europe's largest liquefied natural gas plant Hammerfest LNG in Hammerfest, Norway, March 14, 2024.

Preliminary estimates indicate that the discovery holds recoverable reserves of between 19 million and 44 million barrels of oil equivalent, Equinor said in a statement.

"The licensees' assessment is that this is a commercial discovery, and they will consider tie-back to existing infrastructure or development together with other discoveries in the area," the company said.

Equinor holds a 50% stake in the exploration permit while Okea (OKEA.OL), and Pandion each hold 20% and DNO holds (DNO.OL), 10%.

Mistral is a candidate for a quick development via a tieback to Equinor's ongoing Lavrans subsea development, DNO said in a separate statement.

"Given the good reservoir properties, the discovery likely allows for simplified development solutions," DNO said.