Offshore staff
STAVANGER, Norway — Longboat JAPEX Norge has agreed to farm down interests to Concedo in two exploration licenses in the northern Norwegian North Sea.
In PL1182S, the company has farmed down from 30% to 15% in return for a full carry of the Lotus exploration well, which the Deepsea Yantai semisub is due to spud next summer. DNO Norge operates, with Aker BP another of the partners.
The license is 4 km southeast of this year’s Kveikje discovery in which Longboat JAPEX has a 10% equity interest.
Lotus (also known as Kjøttkake) is in Palaeocene injectite sandstones and is said to be supported by seismic amplitudes. As with Kvejke, injectite reservoirs are the main reservoir.
The prospect could hold resources in the range 27 MMboe to 44 MMboe. If drilling is successful, Lotus/Kjøttkake could form part of an area cluster development with Kveikje and other finds nearby through infrastructure connected to the Troll Field.
In PL1049, containing the Jasmine and Sjøkreps prospects, Longboat JAPEX has farmed down from 40% to 25%, with Concedo agreeing to carry 15% of the company's 2024 exploration expenditure.
Last year the deep Cambozola prospect was drilled on the same license, however the other two targets are at shallower intervals and the license has been stratigraphically split.
Sjøkreps is a fault-bounded three-way dip closure at Palaeocene level, with estimated recoverable volumes ranging from 20 MMboe to 300 MMboe.
Jasmine is an injectite target at Eocene level, analogous to Kveikje, with recoverable volumes assessed at potentially 10 MMboe to 30 MMboe.
A drilling decision is due by February 2025.
12. 11.2023
