Latest news with #condensate
Yahoo
5 days ago
- Business
- Yahoo
Vidsyn Discovery Proves Up Commercial Oil and Gas
Oslo, 21 July 2025 – DNO ASA, the Norwegian oil and gas operator, today confirmed a gas and condensate discovery on the Vidsyn prospect close to its producing Fenja oil and gas field, both within the Norwegian Sea license PL586. The Company has a 25 percent stake in the license, up from 7.5 percent prior to the recent acquisition of Sval Energi Group AS last month. Preliminary estimates put gross recoverable resources in the range of 25 to 40 million barrels of oil equivalent (MMboe) with a mean of 31 MMboe, above the pre-drill estimate range. The Vidsyn discovery was made in Middle Jurassic high-quality reservoir sandstones of the Ile formation. The partnership, including Vår Energi ASA (75 percent and operator), considers the discovery commercial and sees a potential to unlock a larger volume in the licence. 'Vidsyn is another exciting addition to our string of Norway discoveries,' said Executive Chairman Bijan Mossavar-Rahmani. 'Together with Vår Energi, we will work hard to put it into production faster than is the norm in Norway.' Vidsyn is located eight kilometers west of the Fenja field, which is tied back to the Equinor-operated Njord field facilities 35 kilometers to the northeast. Njord oil is exported by shuttle tankers while gas is piped to the market via the Åsgard Transport System. Since re-entering Norway in 2017, DNO has participated in over a dozen discoveries on the Norwegian Continental Shelf, including three on permits operated by the Company, namely Kjøttkake (2025), Othello (2024) and Norma (2023). DNO produces around 80,000 barrels of oil equivalent per day offshore North Sea from more than 30 fields, participates in six ongoing field development projects, is maturing multiple discoveries for project sanction and has interests in a total of 138 permits in the North Sea where it will drill three more exploration wells later this year: Page in PL1086 (50 percent interest and operator), Tyrihans Øst in PL1121 (30 percent) and Camilla Nord in the Vega unit (5.5 percent). Combined North Sea 2P reserves and 2C resources of 435 million barrel of oil equivalent translates into15 years of production at the current run rate. – For further information, please contact:Media: media@ – DNO ASA is a Norwegian oil and gas operator active in the Middle East, the North Sea and West Africa. Founded in 1971 and listed on the Oslo Stock Exchange, the Company holds stakes in onshore and offshore licenses at various stages of exploration, development and production in the Kurdistan region of Iraq, Norway, the United Kingdom, Côte d'Ivoire, Netherlands and Yemen. More information is available at This information is subject to the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Reuters
07-05-2025
- Business
- Reuters
Iraq boosts condensate production amid gas capture efforts, statement says
DUBAI, May 7 (Reuters) - Iraq's Deputy Prime Minister for Energy Affairs and Minister of Oil announced in a statement that the country has seen an increase in natural gas production and associated gas capture projects. These initiatives, aimed at reducing flaring and meeting local demand, have led to the availability of large volumes of condensates, reaching approximately 160,000 barrels per day, said an Iraqi oil ministry statement on Wednesday. Condensate, an ultra-light oil, is primarily processed at splitters to produce petrochemical feedstock naphtha or used as a diluent for heavy crude. According to the statement, most of the condensates produced are blended with crude oil to enhance their specifications. The increase in condensate production marks a notable step in Iraq's efforts to optimize its energy resources and reduce environmental impact through improved gas capture and utilisation.
Zawya
07-05-2025
- Business
- Zawya
Iraq boosts condensate production amid gas capture efforts, statement says
Iraq's Deputy Prime Minister for Energy Affairs and Minister of Oil announced in a statement that the country has seen an increase in natural gas production and associated gas capture projects. These initiatives, aimed at reducing flaring and meeting local demand, have led to the availability of large volumes of condensates, reaching approximately 160,000 barrels per day, said an Iraqi oil ministry statement on Wednesday. Condensate, an ultra-light oil, is primarily processed at splitters to produce petrochemical feedstock naphtha or used as a diluent for heavy crude. According to the statement, most of the condensates produced are blended with crude oil to enhance their specifications. The increase in condensate production marks a notable step in Iraq's efforts to optimize its energy resources and reduce environmental impact through improved gas capture and utilisation. (Reporting by Maha El Dahan; Writing by Ahmed Rasheed; Editing by Vijay Kishore)
