Aker BP announced that it has found oil at an exploration well on the North of Alvheim-Krafla-Askja (Noaka) area off Norway
Aker BP said in a statement that it is about to complete the Liatårnet exploration well in licence 442 in the Noaka area. The well has proved oil with a gross resource estimate of 80-200 mmboe. Further data acquisition and analysis will be undertaken to determine the drainage strategy and recovery factor for the discovery.
Evy Glørstad-Clark, SVP Exploration in Aker BP said: “The exploration success at Liatårnet is an encouraging result of a long-term strategy to unlock the exploration potential in the Noaka area and provide the basis for an area development. The discovery represents a significant addition to the Noaka resource base.”
The independent firm said that a more detailed technical description of the well results will be released by the Norwegian Petroleum Directorate when the operation has been completed.
Aker BP is the operator and holds 90.26 per cent interest in licence 442. The partner is LOTOS (9.74 percent).