Oil and Gas Discovery Confirmed at Hamlet

Neptune Energy has announced the discovery of oil and gas at the Hamlet exploration wells in the Norwegian sector of the North Sea.

In-place volumes discovered in the Hamlet structure are estimated to be in the range of between five and 11 million standard cubic metres, or 30-70 million barrels of oil equivalent, according to Neptune, which noted that work is continuing to confirm potential recoverable resources. Neptune said its preliminary estimate for this figure is between eight and 24 million barrels of oil equivalent.

Hamlet is a new discovery in the Gjøa area, where Neptune already operates two field. The find will be considered as a tie-back to the Neptune-operated Gjøa semi-submersible platform, Neptune outlined.

“This discovery is in line with Neptune’s strategy to focus on exploration around existing hubs, enabling us to fast-track development, and to keep costs down and carbon emissions low,” Neptune Energy’s Managing Director for Norway and the UK, Odin Estensen, said in a company statement.

“A potential field development would build on our experiences from recent successful developments of the Duva field and Gjøa P1 segment,” he added.

Neptune Energy’s Director of Exploration and Development in Norway, Steinar Meland, said, “the Hamlet exploration well confirms the extended potential of the Agat play, previously only developed and produced in the Neptune-operated Duva Field”.

“Neptune plans to drill a further exploration well, the Ofelia prospect, in the same play later this year,” he added.

Neptune Energy operates Hamlet with a 30 percent interest. Petoro holds a 30 percent stake in the asset, while Wintershall Dea holds a 28 percent interest and OKEA holds the remaining 12 percent stake.

While Petoro and Wintershall Dea made no mention of the Hamlet discovery confirmation on their websites, OKEA did. In OKEA’s release, the company outlined that in-place volumes were estimated to be in the range of five to eight million standard cubic meters, or 30-50 million barrels of oil equivalents. 

On March 21, Neptune Energy announced that hydrocarbons were encountered at the Hamlet exploration well. In a company statement at the time, Neptune noted that operations in the reservoir section were still at an early stage and said it had yet to be confirmed if commercial volumes were present.

To contact the author, email andreas.exarheas@rigzone.com