Shell has announced its third major discovery in the deepwater Gulf of Mexico.

The energy giant confirmed it has found roughly 100 million barrels of oil equivalent in the Norphlet formation. It was discovered near its Rydberg well, located around 72 miles off the Louisiana coast.

Marvin Odum, Shell Upstream Americas Director said: “These successes represent the emergence of another hub for Shell’s deep-water activities that should generate shareholder value.”

This is the first discovery for the partnership between operator Shell, which has a 57.2% share, Ecopetrol America (28.5%) and Nexen (14.3%), a wholly-owned affiliate of CNOOC Limited.