The Lourinhã Formation in the western region of Portugal is an analogue for the Statfjord Formation in the oil and gas fields of the Norwegian Northern North Sea. This petrophysics study encompasses a specific sandstone variety (M variety) of the Lourinhã Formation. This lithic arkose shows an average value of effective porosity of 18.5% and a permeability range of 20–30 mD, and is representative of the distribution range in the petrophysics models of the reservoirs of the Statfjord Formation. The petrographical, physical and mechanical characterization of the M variety sandstone is compared with the main features of the oil- and gas-producing sandstones of the Statfjord Formation in a reference well in the Norwegian Northern North Sea. Efficient enhanced oil recovery (EOR) projects in the oil and gas fields of the Norwegian Gullfaks hub are always needed, and this study intends to provide a contribution to that endeavour.