Norwegian oil company Equinor has made a significant discovery at the Kveikje exploration well in the North Sea, offshore Norway, Longboat Energy, Equinor's partner in the project, has informed. 

The well, formally named Well 35/10-8S, located in license PL293B, was spudded March 8, using Odfjell Drilling's Deepsea Stavanger offshore drilling rig.

According to Longboat, which owns a 10% stake in the license, the preliminary estimate of recoverable resources in Kveikje Main, being the primary target of the exploration well, is 28 to 48 MMboe (gross), above the pre-drill expectation.

The preliminary on-site analysis of the oil indicates a medium-density oil (30-40 deg API).

"The discovery has excellent reservoir quality and is close to existing infrastructure allowing for a simple development through multiple export options," Longboat Energy said.

Helge Hammer, Chief Executive of Longboat, said "Longboat is very pleased to have made a significant commercial discovery in the Kveikje well.