Svaneøgle yields modest oil find

Norwegian Energy Co. (Noreco) has discovered oil in its latest exploration well in the Norwegian sector, but in sub-commercial quantities.

Offshore staff

STAVANGER, Norway -- Norwegian Energy Co. (Noreco) has discovered oil in its latest exploration well in the Norwegian sector, but in sub-commercial quantities.

Well 17//6-1 was drilled by the semisubmersibleWest Alpha on the Svaneøgle prospect in 272 m (892 ft) of water on license PL545, around 100 km (62 mi) southeast of the producing Grane field in the central region of the Norwegian North Sea.

The well’s main objective was the mid-Jurassic Sandnes and Bryne formations. It encountered oil in a 5-m (16.4-ft) sandstone layer of low reservoir quality in the Sandnes-formation, although pressure measurements indicate a potential 45-m (147-ft) oil column.

A water-bearing sandstone layer of higher reservoir quality was intersected deeper in the Bryne formation. Preliminary estimates suggest recoverable oil resources of 0.05-1 MMcm (1.77-35 MMcf).

Partner Spring Energy was more upbeat in its verdict, claiming that the proven presence of a mature source rock in this part of the Stord basin could lead to identification of further prospectivity in the area once all results from the Svaneøgle well are fully evaluated.

This was the first well on the license, which was awarded last February under Norway’s APA 2009 licensing round. It was terminated in the Skagerrak formation in the Upper Triassic, and will be permanently plugged and abandoned.

TheWest Alpha will next head to PL 159 B in the Norwegian Sea to perform completion work on production well 6507/3-L-4-AH for Statoil.

02/03/2011

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