DNO ASA introduced Monday an oil and gasoline discovery in an space of the Norwegian North Sea that it stated has attracted little exploration curiosity, placing the scale between 27 million barrels of oil equal (MMboe) and 57 MMboe.
The exploration and manufacturing firm and its companions made the invention within the Othello prospect of manufacturing license (PL) 1086, granted beneath the 2021 Awards in Predefined Areas. In addition to the invention nicely (wildcat nicely 2/6-7 S), an appraisal nicely (2/6-7 A) was additionally drilled, in keeping with a separate announcement by the Norwegian Offshore Directorate.
DNO stated in an announcement, “Gentle oil was found in Palaeocene sandstones of fine reservoir high quality with preliminary estimates of gross recoverable sources within the vary of 27-57 million barrels of oil equal (MMboe) on a P90-P10 foundation, with a imply of 41 MMboe”.
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“As that is the primary time moveable oil has been encountered within the Borr unit of the Våle Formation within the Norwegian sector, the invention is taken into account a play opener”, added the assertion on the corporate’s web site.
“The nicely had two exploration targets, a deeper prospect (Falstaff) the place no reservoir was encountered and a shallower prospect (Othello) the place a 16-meter [52.49 feet] web oil bearing reservoir was encountered. This discovery was subsequently confirmed in a sidetrack”.
DNO operates the license with a 50 p.c stake. The companions are Aker BP ASA (20 p.c), Norway’s state-owned Petoro AS (20 p.c) and Supply Power AS (10 p.c).
“The Othello discovery marks the second new play DNO, as operator, has confirmed just lately in Norway, following final 12 months’s Norma discovery (30 p.c and operator)”, DNO added.
“Remarkably, Othello has found oil east within the basin the place migration danger was generally considered too excessive. In recent times, the business has proven little exploration curiosity on this space, which has been disparagingly known as ‘the dry belt’.
“Along with its companions, DNO is already contemplating tying again the invention to present infrastructure, with the ConocoPhillips Ekofisk hub some 40 kilometers [24.85 miles] to the west and the Valhall hub operated by Aker BP some 55 kilometers [34.18 miles] to the southwest”.
Within the close by PL1085, DNO and companions Aker BP and Petoro are additionally contemplating growing the 2022 Overly discovery as a tieback to the Valhull hub after latest research raised estimates of recoverable sources, DNO stated.
After the PL1086 marketing campaign, the Noble Invincible jackup will now transfer to drill a manufacturing nicely within the close by Tambar East oilfield, DNO stated. It holds a 37.8 p.c stake in Tambar East, whereas Aker BP is the operator with 46.2 p.c.
Moreover, Aker BP and DNO additionally plan to drill an exploration nicely within the close by PL 1171. Aker BP operates this license with a 50 p.c stake whereas DNO owns the opposite half.
“Along with our ongoing exploration marketing campaign, we are going to concentrate on different recognized, and now derisked by Othello, prospects within the space”, DNO government chair Bijan Mossavar-Rahmani stated.
DNO closed increased at NOK 10.27 ($0.93) on Monday on the Oslo inventory change.
To contact the creator, e mail jov.onsat@rigzone.com
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