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Page added on June 17, 2019

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New Oil and Gas Discovery in Norwegian Sea

Geology

Equinor, along with its partners Ineos E&P and Faroe Petroleum, have made an oil and gas discovery in the Norwegian Sea through the Snadd Outer Outer/Black Vulture exploration well.

Gas was proven at the well’s first target, Snadd Outer Outer. Further drilling to the second target, Black Vulture, hit oil. The well volume totals 3 to 60 million barrels of oil equivalent (boe) “before further delineation is made”, according to Equinor.

Snadd Outer Outer/Black Vulture was drilled by the Transocean Spitsbergen rig. The well has now been plugged and abandoned while the license partners evaluate how to further develop the discovery.

“We are very pleased with the results of both targets. This was of course what we hoped for and it isn’t given that we find both oil and gas in the same well,” Nick Ashton, Equinor’s senior vice president for exploration in Norway and the UK, said in a company statement.

“The volumes are broadly estimated and operational challenges prevented side-tracking. We are evaluating both the time and place for further delineation to give us more accurate volume estimates,” he added.

Since 2017, Equinor has been operator or partner in 11 discoveries in eight wells in the Norwegian Sea. Carmen and Osprey proved resources in the range of 10 to 39 million boe in 2017, Hades and Iris, Balderbra and Cape Vulture combined proved between 134 and 435 million boe in 2018 and Ragnfrid North, Jasper and Snadd Outer Outer/Black Vulture have proven between 12 and 101 million boe so far this year.

“The Norwegian Sea has created considerable value and many jobs since Norne was found in 1992. In these waters Equinor operates around 800,000 boe every day, constituting about a fifth of Norway’s daily production of oil, gas and condensate,” Ashton said.

“We will increase our exploration activity in the Norwegian Sea in the time ahead. This was reflected in the previous licensing round for Awards in Predefined Areas, in which we were awarded 16 production licenses in the Norwegian Sea,” he added.

Back in April, Equinor announced a “significant” discovery at the Blacktip prospect in the deepwater U.S. Gulf of Mexico. The company owns a 19.1 percent working interest in the find. In March, Equinor revealed that it and its partners had made an oil discovery from the Visund A platform in the Telesto exploration well in the North Sea.

Equinor, which used to be called Statoil, describes itself as a broad energy company. The business employs over 20,000 people and is present in more than 30 countries.

RIGZONE



13 Comments on "New Oil and Gas Discovery in Norwegian Sea"

  1. Cloggie on Mon, 17th Jun 2019 3:42 pm 

    Norway State Fund is the largest state fund in the world, more than 1 trillion $, larger than the 2nd, the Chinese state fund.

    Norway has 5 million inhabitants. All the money comes from oil and gas.

    Ironically, Norway intends to use a significant chunk of that money for investment in renewable energy. As if there wasn’t enough money already for renewable energy projects, where the real bottle neck these days are the deplorables who resist new power grids and large wind turbines in their backyard.

    https://www.bbc.com/news/business-47494239

  2. R.G. on Mon, 17th Jun 2019 4:23 pm 

    There are safer and responsible ways to use fossil fuels (ex: underground coal gasification etc.).

  3. pointer on Mon, 17th Jun 2019 5:28 pm 

    Ah, it seems the trust fund kids have bought some more time…

  4. makati1 on Mon, 17th Jun 2019 6:49 pm 

    RIGPORN: Keeping the sucker on the hook!

    “…3 to 60 million barrels of oil equivalent”

    WTF is “oil equivalent”? It is either petroleum or it is not. And even 60m bbls only equals ~16 hours of world consumption. WHOOPEE!

    God! How desperate they are for some GOOD news in the oily game. Hint: There is none.

    Another day watching the West sink into the 3rd world. Yawn. Time to plant some more veggies. Later! ^_^

  5. Anonymouse on Mon, 17th Jun 2019 8:09 pm 

    16 hours of world consumption indeed mak. An even more pertinent thing to ask, or raise, is:

    How long will, or would it take to get those 3 to 60 million Barrels of Oil? ‘Equivalent’ out of the earth, and delivered to end-users before the well finally gets shut in?

    I dont have an answer, but I am willing to get it will take a lot more than 16 hours to get it all out, processed, and delivered. You could also ask at the same time, how much energy will it take to get that 3 to 60 million BoE? It is not 3 to 60 million barrles NET energy at all. Still have to subtract the energy costs involved in getting it out of the ground, or sea, to begin with.

    So a full and proper accounting tells you it wont even provide those 16 hours once you subtract the all the related energy costs involved.

  6. Davy on Tue, 18th Jun 2019 3:50 am 

    “Global Oil Choke Points”
    https://tinyurl.com/y2llkubw peak oil review

  7. Davy on Tue, 18th Jun 2019 5:03 am 

    “U.S. solar market soars in Q1 2019”
    https://tinyurl.com/y4k9j858 renewable energy world

    “In the first three months of the year, the U.S. installed 2.7 gigawatts of solar photovoltaics (PV), making it the most solar ever installed in the first quarter of a year. With the strong first quarter, Wood Mackenzie Power & Renewables forecasts 25% growth in 2019 compared to 2018, and it expects more than 13 GWdc of installations this year. This data comes from the new U.S. Solar Market Insight Report from Wood Mackenzie and the Solar Energy Industries Association (SEIA), whom together announced in May that the U.S. hit the 2 million solar installation milestone during the first quarter of 2019.”

  8. Davy on Tue, 18th Jun 2019 6:26 am 

    Oops, sorry for the off topic spam again everyone.

  9. JuanP on Tue, 18th Jun 2019 6:46 am 

    “Oops, sorry for the off topic spam again everyone.”

    juanpee, explain yourself please. I think you are off topic and noise with your morning masterbation. humper thumper pervert

  10. JuanP on Tue, 18th Jun 2019 6:49 am 

    I worry my number many come up soon

    ICE to remove ‘millions of illegal aliens’ in US, Trump says, scant on details
    President Trump late Monday announced on Twitter that U.S. Immigration and Customs Enforcement will begin the process of “removing the millions of illegal aliens who have illicitly found their way into the U.S.,” but did not elaborate on what new measures will be taken. “They will be removed as fast as they come,” Trump said. Mark Morgan, the director of the agency, did not announce any new initiatives during his stop in Louisville on Sunday, where he spoke about the humanitarian and national security crisis at the border.

  11. Anonymouse on Tue, 18th Jun 2019 6:53 am 

    We will take you in Canada, Juan. Canada has an excellent anti-American asylum program even for the most rabid like you.

  12. JuanP identity theft on Tue, 18th Jun 2019 6:56 am 

    Davy on Tue, 18th Jun 2019 6:26 am
    JuanP on Tue, 18th Jun 2019 6:46 am
    JuanP on Tue, 18th Jun 2019 6:49 am
    Anonymouse on Tue, 18th Jun 2019 6:53 am

  13. More Davy Identity Theft and Projections on Tue, 18th Jun 2019 7:11 am 

    JuanP on Tue, 18th Jun 2019 6:46 am

    “Pervert”

    JuanP on Tue, 18th Jun 2019 6:49 am

    Anonymouse on Tue, 18th Jun 2019 6:53 am

    “the most rabid like you.”

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