ConocoPhillips introduced a brand new oil discovery in manufacturing license 891 on the Slagugle prospect positioned 14 miles north-northeast of the Heidrun Field within the Norwegian Sea. ConocoPhillips Skandinavia AS is operator of the license with 80 p.c working curiosity. Pandion Energy AS is license accomplice with 20 p.c working curiosity.
Preliminary estimates place the scale of the invention between 75 million and 200 million barrels of recoverable oil equal. Extensive knowledge acquisition and sampling has been carried out within the discovery effectively 6507/5-10, and future appraisal might be performed to find out potential circulate charges, the reservoir’s final useful resource restoration and potential growth plan.
“This discovery marks our fourth profitable exploration effectively on the Norwegian Continental Shelf within the final 16 months,” mentioned Matt Fox, government vice chairman and chief working officer. “All 4 discoveries have been made in well-documented elements of the North Sea and the Norwegian Sea and supply very low value of provide useful resource additions that may lengthen our greater than 50-year legacy in Norway.”
The discovery effectively was drilled in 1,165 ft of water to a complete depth of seven,149 ft by the Leiv Eiriksson drilling rig.
(Source: ConocoPhillips)

The submit CONOCOPHILLIPS REPORTS SIGNIFICANT OIL DISCOVERY OFFSHORE NORWAY appeared first on Energy Global News.

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