Equinor to drill at Norwegian prospect in late August
Equinor plans to spud a well targeting 103mn barrels of oil equivalent in gross mean prospective resources at the Egyptian Vulture prospect in the Norwegian Sea in late August, its UK project partner Longboat Energy said on July 26.
Adding potential upside, the resource could total 208mn boe, Longboat said, noting that the geological chance of success of drilling was estimated at 25%. The well is expected to take four weeks to drill with a pre-carry cost of $5mn net to Longboat. If the well is successful, Longboat said the produced gas could be supplied to Equinor's nearby Asgard infrastructure, enabling rapid monetisation.
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The Egyptian Vulture well will be the first of seven planned at prospects that Longboat farmed into in a deal earlier this year. Work on the next well is due to commence in mid-September and will target the Rodhette prospect.