An exploration well drilled by Aker BP in the North Sea’s Alvheim area, has hit oil and gas, the company said March 19.
The Froskelår Main exploration well, drilled in production license 869, has a gross resource estimate of between 60 million barrels of oil equivalent (MMboe) and 130 MMboe.
“The exploration success at Froskelår Main is an encouraging result of a long-term strategy to unlock the exploration potential in the Alvheim area,” Evy Glørstad-Clark, senior vice president of exploration for Aker BP, said in a statement. “This strategy has involved extensive data acquisition and detailed technical analysis.”
The well, which Aker BP said may straddle the U.K.-Norwegian border in the North Sea, is part of a drilling campaign the company launched in the area following the successful Frosk discovery in 2018.
The company continues to expand its position in the area.
“The Froskelår Main discovery represents a significant addition to the resource base in the Alvheim area,” Glørstad-Clark added. “The discovery also illustrates the significant resource potential yet to be uncovered on the Norwegian Continental Shelf.”
Holding a 60% interest in license 869, Aker BP is the operator. Partners are are Lundin Norway (20%) and Vår Energi (20%).
Recommended Reading
Engelhart Completes Acquisition of Global Commodities Trader Trailstone
2024-08-26 - Engelhart Commodities Trading Partners’ acquisition marries its power, gas and oil trading business with Riverstone-backed Trailstone, which is largely focused on renewables power trading.
DNO Buys Stakes in Five Norwegian Sea Fields from Vår Energi
2024-09-03 - DNO’s acquisition of stakes from Vår Energi includes interests in four producing fields—Norne, Skuld, Urd and Marulk— and the Verdande development.
EQT Closes $5.45B Acquisition of Equitrans Midstream
2024-07-22 - In addition to integrating Equistrans’ midstream assets, EQT will focus on reducing the infrastructure company’s debt of between $7.6 billion and $8 billion. Including equity and debt, the deal is valued at roughly $13 billion.
Viaro Energy to Buy Shell, Exxon’s North Sea Assets
2024-08-01 - When the transaction is completed, Viaro Energy will control 11 fields that produced 28,000 boe/d in 2023, 5% of the U.K.'s total gas production.
Occidental Closes $12 Billion Acquisition of CrownRock
2024-08-01 - Occidental has already started the process of reducing debt incurred through its acquisition of CrownRock LP with an $817 million sale in late July of Delaware Basin assets to Permian Resources.