Drilled to a total depth of 23,530 ft just 15 miles west of the BP-operated Mad Dog Field, the well hit high-quality Miocene reservoir, BP says.
The Italian energy company said the well hit an 80-m light oil column in Miocene-aged sandstones.
Equinor said the oil discovery is the biggest one so far this year on the Norwegian Continental Shelf.
Lopez Obrador, who was speaking at his regular morning news conference, gave no further details.
The company placed recoverable oil resources at between an estimated 31 to 50 million barrels.
The well tested at about 2,100 barrels of oil per day with good crude quality, Petronas said in a statement.
The discovery well was tested to produce an average of about 1,980 barrels of crude oil and 5.25 million cubic feet of natural gas per day.
Unfortunately, during the past year, a number of major banks announced they would not finance major Arctic development projects.
Check out the latest oil and gas drilling activity highlights from around the world.
Check out the latest oil and gas drilling activity highlights across the U.S. featured in the February issue of E&P Plus.