A Canadian offshore oil regulator said on Friday it has licensed an oil discovery by Equinor ASA off the country’s coast, an area of around 14,900 hectares.
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) said that the oil volume from the Cambriol G-92 discovery is estimated to be 340 million barrels.
Equinor owns 60% of the discovery, and BP owns the remaining 40%, according to the license.
Early last year, C-NLOPB issued a similar license to Equinor for the Cappahayden K-67 discovery, which is estimated at 385 million barrels of recoverable oil.
(Reporting by Seher Dareen in Bengaluru; Editing by Shweta Agarwal)