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
Sunoco’s $7B Acquisition of NuStar Evades Further FTC Scrutiny
2024-04-09 - The waiting period under the Hart-Scott-Rodino Antitrust Improvements Act for Sunoco’s pending acquisition of NuStar Energy has expired, bringing the deal one step closer to completion.
Buffett: ‘No Interest’ in Occidental Takeover, Praises 'Hallelujah!' Shale
2024-02-27 - Berkshire Hathaway’s Warren Buffett added that the U.S. electric power situation is “ominous.”
73-year Wildcatter Herbert Hunt, 95, Passes Away
2024-04-12 - Industry leader Herbert Hunt was instrumental in dual-lateral development, opening the North Sea to oil and gas development and discovering Libya’s Sarir Field.
Imperial Oil Names Exxon’s Gomez-Smith as Upstream Senior VP
2024-04-30 - Cheryl Gomez-Smith, currently director of safety and risk at Exxon Mobil’s global operations and sustainability business, will join Imperial Oil in May.
Supply Disruptions Ahead as Canadian Rail Workers Vote for Strike
2024-05-01 - The union, representing more than 9,000 employees at Canadian National Railway and Canadian Pacific Kansas City, announced that 95% of its members approved of a strike, which could happen as early as May 22.