OMV Finds Hydrocarbons At Oswig Well

OMV Finds Hydrocarbons At Oswig Well
OMV has encountered hydrocarbons in the Oswig well and decided to drill a sidetrack well and perform a drill stem test.

Oil and gas company OMV has encountered hydrocarbons in the Oswig well and decided to drill a sidetrack well and perform a drill stem test.

Longboat Energy, a partner in the Oswig well – designated 30/5-4S, said that it was drilled to a depth of 5,003 meters TVDSS targeting the Tarbert and Ness formations.

Extensive coring and logging data have been acquired and the preliminary analysis of the data indicates excellent correlation with the nearby Tune field, presence of gas-condensate in the Tarbert formation, presence of hydrocarbons in the deeper Ness formation inconclusive at this well location, and preliminary gas in-place volumes in the Tarbert formation higher than the overall pre-drill expectations.

Based on the positive indications to date and the challenges of collecting a full suite of downhole dynamic data from the existing well-bore, a decision has been taken by the joint venture to drill a sidetrack well and perform a drill stem test (DST). The key objectives of the DST are to establish reservoir productivity, find out detailed fluid properties, and determine the range of recoverable resources.

The further operations are expected to take between six and eight weeks to complete and remain subject to the granting of the associated regulatory approvals. A further announcement will be made at the completion of well operations, including an assessment of the potential range of recoverable resources, once the additional data from the DST has been evaluated and assessed.

Oswig consists of a high pressure, high temperature Jurassic rotated fault block near the Equinor-operated producing Tune and Oseberg fields. Oswig had a pre-drill gross unrisked mean resource of 93 mmboe making it one of the largest gas prospects being tested in Norway this year. Several additional fault blocks have been identified on-block which could contain further gross unrisked mean resources of 80 mmboe which would be significantly derisked by a successful DST. The nearby analog Tune field has produced circa 140 mmboe since production commenced in 2002.

Partners in license PL1100 where Oswig is located are OMV with 40 percent as the operator while Wintershall DEA, Source Energy, and Longboat Energy hold 20 percent each.

“We are very pleased to have encountered hydrocarbons in the Oswig exploration well, the first of two wells we farmed into from OMV. We now look forward to working with the operator on the sidetrack and DST and to making the final well result announcement in due course,” Helge Hammer, Chief Executive of Longboat, stated.

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