Neptune proves up Hamlet discovery

Neptune Energy confirmed the reserve estimate for its Hamlet discovery in the Norwegian North Sea on April 28, saying it now believes the structure contains between 30 and 70mn barrels of oil equivalent in hydrocarbon reserves.

Not all of this will be obtainable given economic considerations and technical challenges, and Neptune is conducting further research to confirm its estimate for potentially extractable resources. Its preliminary estimation is that between 8mn and 24mn boe of the reserves could be recovered.

Neptune and its partners have commissioned studies to consider development options for the discovery, which is situated in production licence (PL) 153. The discovery was first announced on March 21.

Hamlet could potentially be developed as a tie-back to the Neptune-operated semi-submersible platform at Gjoa in PL 153. Neptune operates PL 153 with 30% interest, and is partnered with Petoro (30%), Wintershall (30%) and OKEA (12%.) The Gjoa area contains two active fields, and its platform also processes hydrocarbons from Wintershall Dea-operated Vega and Nova.

Neptune drilled Hamlet in waters 358m deep. The programme comprised a main borehole and a side track, both of which encountered hydrocarbons. The sidetrack confirmed an oil/water contact point at 2662m total vertical depth. 

Neptune will extract hydrocarbons from Hamlet in the Agat formation, which already underpins production from its Duva oil and gas field in the Norwegian North Sea.   The Agat play will be targeted once again later this year, when Neptune drills an exploration well at the Ofelia prospect.

Steinar Meland, Neptune Energy director of exploration and development, said: "The Hamlet exploration well confirms the extended potential of the Agat play, previously only developed and produced in the Neptune-operated Duva Field. Neptune plans to drill a further exploration well, the Ofelia prospect, in the same play later this year.”