Equinor hits new Oslo Børs record as major North Sea oil discovery announced
Equinor’s shares reached an all-time high on the Oslo Stock Exchange for the second consecutive day, while the company disclosed a sizable new oil and gas find in the Grimsnes prospect of the Oseberg area.
Equinor set a fresh record on the Oslo Stock Exchange, achieving its highest trading level for a second day in a row after a strong rally the previous session. The company also revealed a new oil and gas discovery in the Grimsnes prospect within the Oseberg area of the North Sea, with preliminary estimates ranging from 19 to 50 million barrels of oil equivalent. According to Frode Skarstein, head of Exploration and Production West, the find can be linked to existing seabed facilities and produced via the Oseberg South platform.
The partnership, which includes Petoro and TotalEnergies, plans to decide on investment by next summer and target a production start within three years, potentially using two or three new wells. Equinor aims to halve both cost and time from discovery to production relative to past developments, leveraging the field’s location roughly 140 km west of Bergen.
Why it matters
The record share price reflects investor confidence, while the new discovery could boost Norway’s oil output and influence global energy markets.
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