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October 29, 2018

Equinor makes new oil discovery in Johan Castberg licence

A partnership comprising Equinor, Eni and Petoro has discovered more oil in the Johan Castberg licence in the Barents Sea, following the completion of the Skruis exploration well.

A partnership comprising Equinor, Eni and Petoro has discovered more oil in the Johan Castberg licence in the Barents Sea, following the completion of the Skruis exploration well.

The well, where exploration drilling commenced last month the Songa Enabler drilling rig, indicated a volume between 12 and 25 million recoverable barrels of oil.

Equinor Exploration Norway and UK senior vice-president Nick Ashton said: “This is an important discovery. It helps to determine the size of the Johan Castberg resource base, which is currently being developed. Securing resources near existing infrastructure is an important part of Equinor’s ambition and strategy on the Norwegian continental shelf.”

With estimated recoverable reserves 450-650 million barrels, the Johan Castberg licence is expected to start-up in 2022. The estimate does not include the volumes from Skruis and the Kayak discovery.

“Securing resources near existing infrastructure is an important part of Equinor’s ambition and strategy on the Norwegian continental shelf.”

The production facilities at the field are currently expected to be fully utilised up to 2026-2027. Equinor noted that the potential development of the Skruis discovery will be taken up accordingly.

Ashton said: “The Skruis discovery confirms the potential in this part of the Barents Sea. Together with the wells we drilled in 2017, this will help clarify the potential in the remaining part of the Barents Sea.”

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The company is planning to drill three operated wells in the Barents Sea and participate as a partner in another well.

Johan Castberg development project director Knut Gjertsen said: “Through the Johan Castberg field development, we open a new oil province in the Barents Sea, enabling us to tie-in this type of small discoveries that will be highly attractive when the infrastructure is in place.”

The field is situated around 100km north of the Snøhvit-field. The project’s resource base comprises three oil discoveries Skrugard, Havis and Drivis, located in PL 532.

Equinor operates the licence with a 50% stake, while partners Eni and Petoro respectively hold 30% and 20% interests.

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