Aker BP Makes Oil Discovery Offshore Norway



Aker BP Makes Oil Discovery Offshore Norway
Aker BP makes an oil discovery through the Liatarnet exploration well in license 442, which is located in the NOAKA area offshore Norway.

Aker BP revealed Friday that it has made an oil discovery through the Liatarnet exploration well in license 442, which is located in the NOAKA area offshore Norway.

In a company statement posted on its website, the company said the well “proved oil with a gross resource estimate of 80 to 200 million barrels of oil equivalent”. Aker BP stated that further data acquisition and analysis will be undertaken to determine a “drainage strategy and recovery factor”.

After the company completes the well, a more detailed technical description of the well results will be released by the Norwegian Petroleum Directorate, Aker BP highlighted.

“The exploration success at Liatarnet is an encouraging result of a long-term strategy to unlock the exploration potential in the NOAKA area and provide the basis for an area development,” Evy Glorstad-Clark, Aker BP’s senior vice president of exploration, said in a company statement.

“The discovery represents a significant addition to the NOAKA resource base,” the Aker BP representative added.

Aker BP is the operator of license 442 with a 90.26 percent interest. Its partner is LOTOS, which holds the remaining 9.74 percent stake.

Last month, Lundin Petroleum AB revealed that its wholly owned subsidiary, Lundin Norway AS, had made two oil discoveries on the eastern edge of the Edvard Grieg field, offshore Norway, in PL338.

During the same month, Equinor, and its partners Ineos E&P and Faroe Petroleum, made an oil and gas discovery in the Norwegian Sea through the Snadd Outer Outer/Black Vulture exploration well.



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