Oil discovery in the North Sea - Krafla North
Svenska Petroleum Exploration (Svenska), as a 25% license partner in PL035, confirms the completion of the drilling well 30/11-10 on the “Krafla North” prospect. This structure is located about 1,6 kilometres northwest of the 30/11-8 S (Krafla Main) discovery proven in 2011, and about 180 kilometres west of Bergen. The water depth at the site is 105 metres. Svenska’s current resource estimate for the license is 6-19 million barrels of oil in primary objectives.
Primary exploration target of 30/11-10 was to prove petroleum in Middle Jurassic reservoir rocks of the Tarbert and Etive Formations. A secondary objective was to prove petroleum in Middle Jurassic reservoir rocks in Upper Tarbert and Ness Formations.
The exploration well 30/11-10 encountered a total oil column of ~80 meter in the Tarbert Formation with reservoir properties poorer than expected. In the Etive Formation a total oil column of ~20 meter was proven. Reservoir properties in the Etive Formation was slightly poorer than expected.
Secondary targets in the Upper Tarbert 3 and Ness Formations found reservoir rocks with reservoir qualities as expected. Hydrocarbons were encountered in both the Upper Tarbert 3 and Ness Formation.
Preliminary estimated size of discovery is between 6 and 19 million barrels of oil equivalents in the primary objectives.
The exploration well was not formation tested, but substantial data acquisition and sample collection was undertaken.
License partners in the license 035 and 272 will evaluate this discovery together with other discoveries in the licenses.
The well 30/11-10 was drilled to a vertical depth of 4050 meter below sea level. The well finished in the Dunlin Group. The water depth is 105 meter. The well was drilled with the drilling rig Transocean Leader. The rig will now continue and drill the side-track 30/11-10 A. 30/11-10 is the eight exploration well in the license 035. The license where granted in the 2nd Concession Round in 1969.
The Partnership in PL035 consists of Statoil Petroleum AS as operator (50%), Svenska Petroleum Exploration AS (25%) and Det norske oljeselskap ASA (25%).
Anders Hannevik, Managing Director of Svenska Petroleum Exploration in Norway, comments:
“I am delighted to announce yet another positive exploration well for Svenska Petroleum Exploration in Norway this year. Together with the earlier discoveries in these licenses, we believe that this discovery in Krafla North has significantly increased the chances of an economic development of these licenses. The result also indicates interesting additional exploration potential in these licenses.”
For more information, please contact:
Anders Hannevik, VP License Management & MD SPE AS
Telephone: +47 413 23 323 or e-mail: anders.hannevik@svenska.com
or
Fredrik Öhrn, CEO Svenska Petroleum Exploration AB
Telephone: +46 410 545 81 or e-mail: fredrik.ohrn@svenska.com
www.svenska.com
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