Novus well resulted in a small oil and gas discoveryPublished 27/01/2014
The Novus exploration well, 6507/10-2S in the Norwegian Sea resulted in a small oil and gas discovery. The licence operator, Faroe Petroleum, has published more information on their website (http://www.fp.fo/Default.aspx?pageid=1031&NewsItemID=17816 ), of which the key information is as follows:
- The Faroe-operated Novus exploration well 6507/10-2S in the Norwegian Sea is an oil and gas discovery
- The preliminary volumetric gross estimate of the size of the discovery is 6 – 15 million barrels of oil equivalent (“mmboe”) recoverable.
- Due to the presence of a large gas cap in the reservoir, Novus is unlikely to be of commercial size on its own; nearby de-risked prospects and leads offer potential for a future commercial combination
- The well encountered a 12 meter net gas column and a 12.5 meter net oil column in a high quality, thicker than expected Garn formation
- The well confirmed the play model, with excellent quality reservoirs in the area, and that 3D seismic anomalies are diagnostic as a direct hydrocarbon indicator in these types of reservoirs
- The well result will be used to refine the geological model and de-risk additional prospects and leads on the licence for potential future drilling
The exploration well 6507/10-2S, which spudded on 11 November 2013, was targeting the Jurassic reservoirs of the Garn, Ile, and Tilje formations on the Novus prospect. Strong AVO (amplitude versus offset) and 3D seismic amplitude anomalies at the target level were observed and analogous to discoveries in nearby fields.
The main well bore targeting the Novus West horst block encountered a 12 meter net gas column and a 12.5 meter net oil column in a high quality, thicker than expected Garn formation. The Ile and Tilje formations were encountered in line with expectations but were found to be water wet. Extensive data gathering has been undertaken including pressure and fluid samples from the main reservoir zones, and the preliminary volumetric estimate of the size of the discovery is between 6 and 15 mmboe recoverable gross.
More information can be obtained from Geir Lunde, Managing Director of Concedo ASA, Telephone: +47-913 46 553, E-mail: firstname.lastname@example.org