MOL Group’s wholly-owned subsidiary MOL Norge AS and its joint venture partners have discovered oil and gas in an offshore field located about 200km west of Stavanger in the Norwegian part of the North Sea.
The exploration well in the 820S licence area was drilled to a maximum depth of 2,652 m below sea level and oil and gas were found in a number of formations and were successfully tested for about 3,463 barrels of oil equivalent per day, a statement said.
The potential resources discovered in the main formation are between 12 and 71 million barrels of oil and gas equivalent, it said.
The commerciality of the discovery will be determined later, following additional technical work.
MOL Norge AS has a 40% working interest is the operator of the 820S license on behalf of partners Lundin Norway AS (40%), Wintershall Dea Norge AS (10%) and Pandion Energy AS (10%).
MOL Group entered Norway in 2015, through the acquisition of 100 per cent ownership of Ithaca Petroleum Norge. The drilling programme began in 2018 after the operator achieved readiness in record time without any setbacks in a highly regulated environment.
The exploration well in the 820S licence area was drilled to a maximum depth of 2,652 m below sea level and oil and gas were found in a number of formations and were successfully tested for about 3,463 barrels of oil equivalent per day, a statement said.
The potential resources discovered in the main formation are between 12 and 71 million barrels of oil and gas equivalent, it said.
The commerciality of the discovery will be determined later, following additional technical work.
MOL Norge AS has a 40% working interest is the operator of the 820S license on behalf of partners Lundin Norway AS (40%), Wintershall Dea Norge AS (10%) and Pandion Energy AS (10%).
MOL Group entered Norway in 2015, through the acquisition of 100 per cent ownership of Ithaca Petroleum Norge. The drilling programme began in 2018 after the operator achieved readiness in record time without any setbacks in a highly regulated environment.
Source Link: www.tradearabia.com
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