Northern Spuds Sidetrack from Ottoland-1
Following the recent Heads of Agreement between NPN and Dyas B.V. ('Dyas'), NPN has an 85% interest and Dyas a 15% interest in the Ottoland-1 well, which is within the Andel license. The Ministerie van Economische Zaken has a future right to elect that there will be a 40% State participation in the Andel license, with NPN the holder of the remaining 45%. Such participation will be on the basis of being a fully paying partner in all respects from license award, and payment of applicable back costs to NPN.
The existing Ottoland-1 well drilled in 1987 tested oil at a rate of 211bopd over an interval of 14 meters in the Upper Bunter in a near vertical well. The Ottoland-1ST sidetrack has been designed to intersect and produce from 600 meters of reservoir in a near horizontal well at significantly higher flow rates.
Derek Musgrove, Northern's Managing Director, stated:
"These operations in the Netherlands bring closer planned production from NPN's six onshore fields. The Ottoland sidetrack has been designed to achieve commencement of production from the field at enhanced production rates than those originally evaluated in the initial study conducted by Northern together with RPS Energy. Following completion of the well, development plans for the three fields within the Andel license will be submitted to the authorities for approval based on the results of the well."
- Falcon Oil Declares Commercial Flow Test Results for Shenandoah Well
- Japan Failing to Meet Corporate Demand for Clean Power: Amazon
- Macquarie Strategists Expect Brent Oil Price to Grind Higher
- UK Oil Regulator Publishes New Emissions Reduction Plan
- PetroChina Posts Higher Annual Profit on Higher Production
- Pennsylvania County Joins List of Local Govts Suing Big Oil over Climate
- McDermott Settles Reficar Dispute
- US, SKorea Launch Task Force to Stop Illicit Refined Oil Flows into NKorea
- Russian Navy Enters Warship-Crowded Red Sea Amid Houthi Attacks
- USA Commercial Crude Oil Inventories Increase
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- Equinor Makes Discovery in North Sea
- Standard Chartered Reiterates $94 Brent Call
- India Halts Russia Oil Supplies From Sanctioned Tanker Giant
- DOI Announces Proposal for Second GOM Offshore Wind Auction
- Centcom, Dryad Outline Recent Moves Around Red Sea Region
- PetroChina Set to Receive Venezuelan Oil
- Czech Conglomerate to Buy Major Stake in Gasnet for $917MM
- US DOE Offers $44MM in Funding to Boost Clean Power Distribution
- Oil Settles Lower as Stronger Dollar Offsets Tighter Market
- Chinese Mega Company Makes Major Oilfield Discovery
- VIDEO: Missile Attack Kills Crew Transiting Gulf of Aden
- Norway Regulator Blasts Proposal to Halt New Oil and Gas Permits
- Chinese Mega Company Makes Another Major Oilfield Discovery
- New China Climate Chief Says Fossil Fuels Must Keep a Role
- What Is the Biggest Risk to Offshore Oil and Gas Personnel in 2024?
- Vessel Sinks in Red Sea After Missile Strike
- Exxon Rights in Stabroek Do Not Apply to Hess Merger with Chevron: Hess
- Analysts Reveal Latest Oil Price Outlook Following OPEC+ Cut Extension
- Equinor Makes Discovery in North Sea