Neptune Makes Third Discovery Near Gjoa Field

Neptune Makes Third Discovery Near Gjoa Field
Neptune Energy has made a new commercial discovery at the Ofelia exploration well, near the Gjoa field in the Norwegian sector of the North Sea.

Oil and gas company Neptune Energy has made a new commercial discovery at the Ofelia exploration well, near the Gjøa field in the Norwegian sector of the North Sea. 

Neptune has completed the drilling of the Ofelia well and encountered oil in the Agat formation. The drilling program confirmed an oil-water contact at 8,700 feet total vertical depth. The well was drilled by CIMC’s Deepsea Yantai semi-submersible rig, operated by Odfjell Drilling. 

The preliminary estimate of recoverable volume is in the range of 90-220 million cubic feet or 16-39 million barrels of oil equivalent. In addition to the Agat volumes, north of the well there is an upside of around 10 mmboe recoverable gas in the shallower Kyrre formation, which brings the total recoverable volume to approximately 26-49 mmboe.

Located some 10 miles north of the operated Gjøa platform, Ofelia will be considered for development as a tie-back to Gjøa, in parallel with the company’s recent oil and gas discovery at Hamlet. The platform is electrified with power from shore and produces at less than half the average carbon intensity of Norwegian Continental Shelf fields. 

“I am pleased to announce our second discovery in four months which further enhances Neptune’s position in the Greater Gjøa Area. Gjøa is an important growth area for Neptune in Norway, where existing infrastructure allows for low cost and low carbon developments,” Neptune Energy’s Managing Director for Norway and the UK Odin Estensen said.

This is the third discovery by Neptune Energy in the Agat formation, a reservoir that until recently was not part of established exploration models on the Norwegian Shelf. The first was at the Duva field, which is now onstream and operated by Neptune. The second was the company’s discovery at Hamlet, with estimated recoverable volumes between 8-24 mmboe. Together these discoveries contribute to the opening of a new geological play in Norway and can add additional new volumes to the Neptune-operated Gjøa facilities.

“The Ofelia discovery underlines the strength of our exploration strategy and confirms the high prospectivity potential of the area around Gjøa, where we have several more exciting exploration opportunities,” Neptune Energy’s Director of Exploration & Development in Norway Steinar Meland added.

To contact the author, email bojan.lepic@rigzone.com


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