Talisman Stumbles on Minor Discovery in North Sea's Varg Field

Maersk Giant
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Talisman Energy, along with joint venture partners Petoro and Det norske, has made a minor, ancillary discovery of oil in Production License 038 in the Varg oilfield in the North Sea, NPD and Det norske reported.

Drilled by the jack-up rig Maersk Giant, wildcat well 15/12-20S was unsuccessful in discovering pay oil in its primary objective, the Upper Triassic reservoir rocks. However, small amounts of oil were discovered in the secondary target, the Upper to Middle Jurassic reservoir rocks. According to Det norske, the discovery amounts to between 0.6 million and 1.6 million barrels of recoverable oil.
"Additional reserves in Varg are important in order to extend the life of the field," explained Det norske CEO Erik Haugane. "This is only the last in a line of discoveries resulting from an aggressive depletion strategy from field partners."
Partners in the project are operator Talisman with 65%, Petoro with 30% and Det norske with 5%.
The well is the ninth exploration well in Production License 038, which was originally awarded in a supplemental offering in the 3rd licensing round in 1975. Drilled in 84 meters of water to a total depth of 3,090 meters below the sea surface, well 15/12-20S was drilled as a sidetrack from the pre-existing Varg well.
Following this minor discovery, the Maersk Giant will now drill another production well in the Varg field, again with Talisman Energy as the operator.
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