Chrysaor writes Norwegian find off as non-commercial
Chrysaor has found only minor volumes of gas and condensate at its first operated well off Norway, the Norwegian Petroleum Directorate (NPD) reported on March 29, with the discovery written off as "non-commercial."
The 15/12-25 well was drilled 35 km southeast of the Equinor-operated Sleipner field in the North Sea, at production licence (PL) 973. It encountered a 40-metre gas and condensate column in the Ty formation, but the discovery's size is estimated at only between 1 and 2mn cubic metres of oil equivalent.
|
Advertisement: The National Gas Company of Trinidad and Tobago Limited (NGC) NGC’s HSSE strategy is reflective and supportive of the organisational vision to become a leader in the global energy business. |
"The licensees' assessment is that it is not possible to develop the gas discovery," the NPD reported. Chrysaor's licence partner Okea said separately that "the reservoir pressure is highly depleted and the remaining resources are interpreted to be insufficient for development."
The COSL Innovator rig used for drilling will now go on to sink a second well at PL 973. Chrysaor operates the licence with a 50% interest, while Okea has 30% and Petoro 20%.
Norway's exploration results have generally been strong so far this year, with Equinor last week reporting the discovery of 75-120mn barrels of oil equivalent, representing the biggest oil find of 2021. Earlier this month the company also found oil in the Barents Sea, bringing an end to a string of exploration failures in the frontier region.