A major oil and gas discovery has been made at the Vidsyn prospect in the Norwegian Sea by the Norwegian oil company, Vaar Energi.

Speaking in a statement, Vaar explained that initial estimates show that the discovery holds recoverable reserves between 25 million and 40 million barrels of oil.

Vaar Energi explained that it will evaluate the discovery and consider tying in the development with the existing Fenja oil and gas field.

The Norwegian oil and gas operator DNO, which owns a 7.5% stake in the field, commented that it will work together with Vaar Energi to “put it into production faster than is the norm in Norway.”

Fenja is an oil and gas field in the Norwegian Sea, 35 kilometres southwest of the Njord field.