Equinor makes oil find off Norway
Equinor has discovered oil at the Egyptian Vulture prospect in the Norwegian Sea, its UK project partner Longboat Energy said on October 25.
The well drilled at the prospect encountered very light oil in the Lower Cretaceous Intra-Lange formation, Longboat said. The top of the reservoir was reached at a depth of 3,684 m below the sea level, and a 37-m oil-filled gross interval was discovered.
Equinor estimates the find to hold 19-63mn barrels of oil equivalent in recoverable reserves and 220-440mn boe in in-place oil resources, Longboat said. Longboat said Egyptian Vulture was situated in an area with significant infrastructure and export options for oil and gas. The prospect is 20 km from the Asgard field and 23 km from the Kristin field, both of which are operated by Equinor.
"We are very pleased to have made a material light oil discovery in our second exploration well, Egyptian Vulture, following the Rodhette discovery announced only two weeks ago, Longboat CEO Helge Hammer said. "The large areal extent and oil-in-place volume range demonstrates the very significant upside potential of this exciting discovery."
This is the second of seven wells planned at prospects that Longboat farmed into in a deal earlier this year. The first was drilled at the Var Enerji-operated Rodhette prospect in mid-September. The Egyptian Vulture well was scheduled to be spudded in late August but was delayed.
Drilling of the third well in Longboat's campaign is underway at the Aker BP-operated Mugnetind well in the south North Sea, and the fourth, Ginny/Hermine, is due to be spudded by the end of the year.