The gas will be exported to the European market, contributing to the Gina Krog field's extended lifetime and increased profitability.

The successful drilling operation reached a total depth of 6002 meters, revealing promising results for the exploration efforts in the area.

The company outlined plans to return to the well for completion as a production well in early 2024.

While the discovery is relatively modest, Equinor has affirmed that gas production can commence as early as 2023.

Shell's CEO shared this information during a recent call with analysts, outlining Shell's intentions to undertake an exploration well, an appraisal well, and a flow test at its offshore exploration licenses in Namibia.

With a drilling permit issued earlier in 2023, Equinor and its partners successfully identified promising reserves in the Lambda prospect, bolstering the region's oil and gas portfolio.

The well encountered several oil-bearing Campanian sandstone reservoir packages, triggering further evaluation to gauge the full extent of the discovery and its potential development synergy with the Sloanea-1 find in 2020 within the same block.

The Norwegian Petroleum Directorate released a statement confirming the discovery, revealing that between 0.2 million and 0.5 million standard cubic meters of recoverable oil were uncovered during the drilling of well 31/4-A 13 E.

The Guyana Ministry of Natural Resources (MNR) has described the recent finding as a "significant discovery," unveiling promising prospects for the region's hydrocarbon potential.

The solution, geared toward optimizing upstream exploration and operations, promises to deliver heightened efficiency and reduced operational energy consumption and emissions.