The Aberdeen company, which is also listed on the Oslo stock market, holds a 20% stake in the licence along with Det norske and Svenska Petroleum while operator Total has a 40% stake.
A good reservoir of oil was found with the discovery estimated to be between 25 and 75 million barrels of recoverable oil.
It was confirmed a second exploration well is planned for the area.
Bridge Energy chief executive Tom Reynolds, said: "The find adds significant resources to Bridge as it stands now and the adjacent prospects on the licence offer the potential of further upside." Bridge's shares were up more than 3% to 116.5p.