Neptune confirms Dugong a 'big' Norwegian find

Privately-owned Neptune Energy confirmed March 29 that its Dugong discovery in the Norwegian North Sea holds 40mn-108mn barrels of oil equivalent. The new estimate follows analysis from appraisal well (34/4-16 S) and will be subject to further testing. The field was one of last year's largest Norwegian finds.

No development plan has been decided but a stand-alone is possible, Neptune said. The find is 158 km west of Floro at a water depth of 330 m, and is close to the Snorre and Statfjord fields. The reservoir lies at a depth of 3,250-3,500 m. 

The Dugong licence partners are Neptune Energy (operator and 45%, formerly 40%); Petrolia NOCO (20%);  Idemitsu (20%); and Concedo (15%, formerly 20%). The group plans to drill an exploration well in the Dugong Tail in Q3 this year.