License changes spur progress on Norwegian Sea well

VNG Norge AS has finalized work to establish a new partnership for Norwegian offshore license PL 586.

Offshore staff

OSLO, Norway – VNG Norge AS has finalized work to establish a new partnership for Norwegian offshore license PL 586. An unnamed company will come in alongside Faroe Petroleum and Rocksource.

While the process is being completed, VNG is seeking a further three-month extension to the license’s drill-or-drop deadline. Its goal remains to use an available rig slot on the semisubmersibleTransocean Arctic in 1Q 2014.

The license contains the Pil prospect, a combined structural and stratigraphic closure with the primary target within the shallower upper Jurassic Rogn formation sandstone. Faroe points out that this is a proven productive reservoir in Norske Shell’sDraugen field 60 km (37 mi) to the northeast.

Elsewhere in the sector, Explora Petroleum has agreed to farm into 20% of PL 484 in the Norwegian Sea from E.ON E&P Norge. Other partners are operator Noreco and Dana Petroleum.

John Pickard, CEO of Explora Petroleum, said: “The PL484 well planned for 2014 will be located close to the producing Norne field in an area with infrastructure, and close to other significant discoveries. We plan to take an active role in the evaluation of the license.”

2/28/2013

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