Equinor ASA and partners have discovered what the Norwegian major says is the “biggest discovery” to date this year on the Norwegian Continental Shelf (NCS), with preliminary estimates at up to 120 million barrels of recoverable oil equivalent.

The discovery was made at the Blasto prospect, located southwest of the Fram Field in the North Sea, Equinor said March 24.

Drilled to a vertical depth of 2,282 m below sea level by the West Hercules drilling rig, exploration well 31/2-22S hit an oil column of about 30 m in the upper Sognefjord Formation and about a 50-m oil column in the lower Sognefjord Formation, the company said. Another exploration well was also drilled at the prospect to a vertical depth of 2,035 m below sea level; however, it was filled with water and deemed dry.

Holding between 75 and 120 MMboe, based on preliminary estimates, the Blasto find is breathing new life into one of the most mature areas on the NCS.

“With discoveries in four of four prospects in the Fram area during the past 18 months, we have proven volumes that in total will create considerable value for society,” Nick Ashton, Equinor’s senior vice president for exploration in Norway, said in a news release.

The discovery is located 3 km southwest of the Fram Field and 11 km northwest of the Troll Field. The water depth is nearly 350 m.

(Source: Equinor)
(Source: Equinor)

“The operator along with partners Vår Energi, Idemitsu Petroleum and Neptune Energy are considering tying the find to nearby discoveries and existing infrastructure,” the Norwegian Petroleum Directorate (NPD) said in a separate news release.

The two wells were the first drilled in production license 090 I, according to the NPD.

The exploration work fits into the companies’ strategies of looking for resources near existing discoveries.

“These are important resources which can be brought into production quickly,” said Odin Estensen, Neptune Energy’s managing director in Norway. “It’s also a strategically important discovery for Neptune and underlines our commitment to continue growing our business in the Norwegian sector.”

Equinor added that it can develop and produce the discovered resources in line with its climate goals based the quality of resources at Blasto and its location near existing infrastructure.

“Equinor is already an industry leader in low-carbon production. The discoveries in the Fram area will help us reach our goal of a further 40% reduction by 2030 while maintaining the current production level,” Ashton said.

ConocoPhillips Co. had the largest oil discovery offshore Norway in 2020 with its Slagugle discovery in the Norwegian Sea, according to NPD. Resource estimates ranged from 75 to 200 MMboe recoverable. Its Warka discovery was one of the biggest gas condensate discoveries of the year for the area, proving between 50 and 190 MMboe.

Comments