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The Norwegian oil and gas company has swapped interests in exploration permits with BP in the Great Australian Bight area.
Challenges include its rough seafloor topography, complicated geology under thick salt deposits and pristine ecosystem.
The gas find, located west of the Teranga discovery and south of Tortue, is estimated to hold 15 trillion cubic feet of natural gas.
The Snoek well, southeast of the Liza discovery, hit high-quality oil-bearing sandstone reservoirs, the company said.
The French oil major looks to strengthen its portfolio with the Iara and Lapa fields.