Wedoany.com Report-Dec.6, Norwegian energy company Equinor (EQNR.OL) announced on Friday that it has successfully made two new discoveries of natural gas and condensate in the Norwegian North Sea.

"These are Equinor's largest discoveries so far this year and can be developed for the European market through existing infrastructure," the company stated in a press release.

Initial assessments suggest the  two finds together hold recoverable volumes between 30 million and 110 million barrels of oil equivalent. The discoveries are located close to the producing Sleipner field area in the central North Sea.

Equinor operates the production licence with a 60% interest, while partner Aker BP (AKRBP.OL) holds the remaining 40% stake.

The proximity to the established Sleipner hub, which already includes platforms, pipelines and processing facilities, enables potential tie-back development that can bring the new resources quickly and efficiently to market.

Both discoveries were proven by exploration and appraisal wells drilled in the same licence this year. Further evaluation will determine the exact size and optimal development solution.

Equinor highlighted that the finds strengthen its resource base in a mature and infrastructure-rich part of the Norwegian continental shelf, supporting continued gas supply to Europe.

No specific timeline for a final investment decision or production start has been announced yet. The company noted that detailed studies and concept selection work will follow in the coming period.

The discoveries add to a series of recent exploration successes for Equinor in the North Sea, demonstrating that significant volumes can still be found near existing fields despite the basin's long production history.

Aker BP confirmed the results and expressed satisfaction with the outcome of the joint exploration campaign. Neither company provided additional comments beyond the official statements released on Friday.