OSLO, Norway-- Total E&P Norge has secured the semisubmersible rig West Phoenix to drill the Norvarg prospect in license PL 535 in the Norwegian Barents Sea.
According to partner Rocksource, the well should spud in May 2011. Rocksource estimates the primary target in the prospect to hold mean recoverable resources of 270 MMboe, with a chance of success of around 50%.
COO Gregor Maxwell said: "We now have four firm wells in our 2011 program and we are working to firm up additional wells. The current four firm wells will expose us towards 150 MMbbl of net risked resources."
The PL 535 license is on the Norvarg Dome in the central part of the Bjarmeland platform in the Barents Sea, west of Statoil’s Ververis discovery and northeast of the Arenaria discovery.
Prior to application Rocksource acquired controlled source electromagnetic data in order to test the main prospect within the license. After processing these data, the company concluded that resistivity anomalies exist at depths corresponding with multiple target intervals, and are likely to be caused by hydrocarbons.
The PL 535 partnership comprises Total, Det Norske Oljeselskap, North Energy, and Rocksource.