pipeline-2018.svg

Search

Categories

Norway grants offshore drilling permit to Statoil

Oil discovery off Norway

Oct 29, 2018
2 min read
Print this page

Equinor and partners Eni and Petoro have completed the Skruis exploration well in the Johan Castberg licence. The well confirms a volume of 12-25 million recoverable barrels of oil.

The new discovery was made through the exploration well 7220/5-3, which was drilled in a water depth of 409 meters in License PL 532, which is located some 100 kilometres north of the Snøhvit field.

The exploration well is located approximately 230 km northwest of Hammerfest and a few kilometres north of the Johan Castberg field for which the plan for development and operation (PDO) was approved in June 2018 and production is expected to start in 2022.

“This is an important discovery. It helps to determine the size of the Johan Castberg resource base which is currently being developed. Securing resources near existing infrastructure is an important part of Equinor’s ambition and strategy on the Norwegian continental shelf,” says Nick Ashton, Equinor’s senior vice president, Exploration, Norway & UK.

The well encountered 34 metres of light oil column in a single sandstone layer with excellent reservoir properties. Preliminary estimates of the size of the discovery range between 50 and 60 million barrels of oil in place, 15 –25 million barrels of oil recoverable, with further potential to be evaluated.

The partners will now further consider tie-in of the discovery to Johan Castberg. The Johan Castberg field is planned for start-up in 2022 and currently has full capacity up to 2026-2027. The timing of a potential development of the Skruis discovery will be adjusted to this.

Equinor is the operator and has a 50 per cent stake, with Eni having 30 per cent and Petoro the remaining 20 per cent.

RELATED POSTS