Oil discovery in the Johan Castberg area in the Barents Sea

Equinor has struck oil in exploration well 7220/7-CD-1H, Drivis Tubåen, on the Johan Castberg field in the Barents Sea.
The well was drilled in the Drivis structure on the Johan Castberg field in the Barents Sea. According to preliminary estimates the size of the discovery is 9-15 million barrels of oil.

"Only a short time after Johan Castberg came on stream and is producing at full capacity, we have made a new discovery that can provide additional reserves for the field. The Johan Castberg volume base originally estimated at 450–650 million barrels, our clear ambition is to increase the reserves by a another 250–550 million barrels. To realise this, we are planning six new IOR (increased oil recovery) wells and continuous exploration activity. At the same time, we will develop Isflak as a rapid field expansion with planned start-up in 2028," says Grete Birgitte Haaland, Equinor's senior vice president for Exploration & Production North.
The oil was proven in a new segment called the Tubåen formation 1769 metres below the seabed in 345 metres of water. The well was drilled by the Transocean Enabler drilling rig as an exploratory extension from a production well. The licensees will consider tie-in of the discovery to the Johan Castberg field.
The Barents Sea is the least explored ocean area on the Norwegian continental shelf. With the Johan Castberg's production facilities in place, it becomes more attractive to explore the neighbouring areas. Going forward, two rigs will drill both production wells and new exploration wells in the areas around Johan Castberg and Goliat. Equinor will drill one to two exploration wells annually around Johan Castberg.
On 17 June, the field reached plateau and is now producingabout 220,000 barrels of oil per day. Every three to four days, a loaded tanker now departs from Johan Castberg.

Latest news
Johan Castberg officially opened
Today, 8 August, the Johan Castberg field was officially opened by the minister of energy, Terje Aasland.
Equinor second quarter 2025 results
Equinor delivered an adjusted operating income* of USD 6.53 billion and USD 1.74 billion after tax* in the second quarter of 2025. Equinor reported a net operating income of USD 5.72 billion and a net income of USD 1.32 billion. Adjusted net income* was USD 1.67 billion, leading to adjusted earnings per share* of USD 0.64.
Equinor to commence third tranche of the 2025 share buy-back programme
Equinor will on 24 July 2025 commence the third tranche of up to USD 1,265 million of the share buy-back programme for 2025, as announced in relation with the second quarter results 23 July 2025.