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    OMV Makes Norwegian Gas Finds


Austria’s OMV has made a significant gas and condensate discovery in the Norwegian Sea.

by: Mark Smedley

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Natural Gas & LNG News, Europe, Corporate, Exploration & Production, News By Country, Austria, Norway

OMV Makes Norwegian Gas Finds

Austria’s OMV has made a significant gas and condensate discovery in the Norwegian Sea.

Norway’s upstream regulator NPD said that a wildcat well on licence PL644 B, drilled 5km northwest of the Morvin field, made the find.

In the primary exploration target (named Hades), the size of the discovery is estimated at between 3 and 18mn m3 of recoverable oil equivalent (20 – 115mn boe). In the secondary exploration target (Iris), preliminary estimates put the discovery at 3 to 21mn m3 recoverable oil equivalent (20 – 130mn boe). Licensees will consider delimiting the discovery with a view towards potential future development, said NPD, adding that it is the first exploration well on licence PL644B, which was awarded in the APA 2011 licensing round.

“This is our second exploration success as operator following the Wisting discovery, and the first high-pressure high-temperature exploration well we have drilled on the Norwegian Continental Shelf,” said OMV Norge managing director Knut Mauseth: "Hades and Iris could be of significant size and the licensees will evaluate and further investigate the potential of the discoveries."

PL644 and PL644 B are both operated by OMV 30%, with Faroe Petroleum 20%, Statoil 40% and Spirit Energy 10% as partners. Hades and Iris prospects on licence PL644 B were previously known as Aerosmith and Zappa respectively. 

Faroe notes that the finds are also 20km to the northwest of the Asgard field complex, where large quantities of gas and condensate continue to be produced and piped to the continental market.

The Deepsea Bergen rig, which drilled the well, which will now move on to drill an appraisal well for Statoil on the Sigrun gas/oil discovery on PL025 in the central part of the North Sea, also offshore Norway.

In other news, Okea, a partner in the Repsol-operated Yme oil field, said April 4 that government approval was given March 30 for a revised plan for the field's redevelopment. Yme produced from 1996 to 2001 before being shut in. The plan foresees investment of kroner 8.2bn ($1bn) of which kroner 6bn before first oil which is expected late 2019. Partners are Repsol 55%, Polish refiner Lotos 20%, Norway-based  Okea 15% and Kuwait's Kufpec 10%. Private equity fund Seacrest-backed Okea said it anticipates daily production of 9,000 b/d in 2020, net to Okea's 15% interest.