STAVANGER, Norway – Wellesley Petroleum has sold its 20% interests in two Norwegian North Sea licenses containing the Duva oil and gas field to PGNiG Upstream Norway.
Neptune Energy is developing Duva, in PL636 and PL636B, as a three-well tieback to the Gjøa platform. First production is scheduled for late 2020/early 2021.
Piotr Woźniak, president of the PGNiG management board, said: “Duva field has been one of the most promising development projects on the NCS [Norwegian continental shelf] in recent years.
“It is characterized by the exceptional good quality of reservoir rock…We estimate that the average natural gas production from the Duva field by PGNiG during the first five years of operation of the Baltic Pipe gas pipeline between 2023 and 2028 will amount to 0.13 bcm annually.”
The field, located 140 km (87 mi) north of Bergen, is thought to hold around 88 MMboe.
PL636 was Wellesley’s first license on the NCS.
CEO Chris Elliott said: “This transaction allows us to redeploy our development resources to mature our operated Grosbeak development project, while maintaining focus on our core business of exploration.”