Update: Equinor, Partners Make Offshore Norway Oil, Gas Discovery

04:16 AM EDT, 10/14/2026 (MT Newswires) -- (Updates to add comment on timeline in the fourth paragraph.) Equinor (EQNR) and its partners TotalEnergies (TTE) and Petoro have made an oil and gas discovery at an exploration well near the Oseberg field off the southwestern coast of Norway, the company said Wednesday. The preliminary volume estimate is between 19 and 50 million barrels of recoverable oil equivalent, the company said. Equinor said it is planning to maintain production of 1.3 million barrels of oil equivalent per day on the Norwegian continental shelf in 2035. Around 70% of this will come from new wells and developments. "We expect the partnership to make an investment decision for Grimsnes as early as next summer, with production within three years," says Gunnar Nakken, senior vice president for projects and subsea on the Norwegian continental shelf.