Noreco Makes Modest Oil Find in North Sea

Noreco has made a small oil discovery on exploratory well 17/6-1 on the Svaneogle prospect in the Norwegian sector of the North Sea. The objective of the well was to prove petroleum in Middle Jurassic reservoir rocks.

The well did encounter oil in a 16-foot (five-meter) thick sandstone layer with low reservoir quality in the Sandnes formation, and pressure measurements have indicated a possible oil column of 148 feet (45 meters). The underlying Bryne formation was water-bearing, with good reservoir quality.

The well was not formation tested, but data acquisition was performed. The operator states the find is not commercially interesting. The well, drilled to a vertical depth of 10,056 feet (3,065 meters), terminated in the Skagerrak formation. The West Alpha semisub drilled the well in a water depth of 892 feet (272 meters). Plugging and abandonment operations will now commence.

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Company: Norwegian Petroleum Directorate more info
 - NPD Grants Lundin Permit for Appraisal Well Offshore Norway (Jan 20)
 - Aker BP Makes North Sea Find (Dec 23)
 - Norwegian Production Rises (Dec 21)
Company: Norwegian Energy Company (NORECO) more info
 - Det Norske to Acquire Noreco's Norwegian Portfolio (Mar 02)
 - Noreco Oil UK Receives Huntington License Default Notice (Nov 02)
 - Noreco CEO Steps Down (Oct 13)
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