Equinor ASA has discovered a 2-11 billion cubic meters (Bcm) natural gas reserve on the Norwegian continental shelf (NCS) as a part of its foray into deepwater exploration near existing license blocks to unlock more supplies for Europe.

Dubbed the Obelix Upflank, the discovery was made around 14 miles from Equinor’s prolific Irpa discovery. Late last year, the Norwegian firm and its partners asked for regulatory approval to begin deepwater exploration in Irpa and other blocks around its Aasta Hansteen offshore platform north of the Arctic Circle to route more gas to the UK and western Europe.

Grete Haaland, senior vice president for Exploration and Production North, said the firm and its partners are now considering the feasibility of tying the discovery back to Irpa so the...