Aker BP has announced that is has found oil in its latest discovery off Norway at an exploration well located in the Alvheim area.
In a statement, Aker BP said that the drilling of the Frosk exploration well 24/9-12 has proved oil and that preliminary analysis indicate a discovery size of 30-60 million barrels of oil equivalents (mmboe), which is significantly more than the company’s pre-drill estimates of 3-21 mmboe. The discovery also has a positive impact on the assessment of further exploration potential in the area.
Frosk is located in PL340, which also contains the Bøyla field. Bøyla has been producing oil since 2015 through a subsea installation tied back to the Alvheim FPSO.
“The Frosk discovery adds significant volume and value to our resource base, and provides an ideal basis for another profitable expansion project which will secure optimal utilisation of the infrastructure in the Alvheim area for many years,” said Gro G. Haatvedt, senior vice president Exploration in Aker BP.
She added: “The discovery has given us valuable new information about the geological conditions in the area, and has further increased the attractiveness of other possible exploration targets.”
Aker BP is the operator of PL340 with a 65 per cent working interest. The partners are Point Resources with 20 per cent and Lundin Petroleum with 15 per cent.