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August 26, 2022

Neptune Energy discovers oil at Ofelia exploration well offshore Norway

Neptune finds oil near the Gjøa field on the Norwegian continental shelf.

By Smruthi Nadig

Neptune Energy, an oil and gas company in the UK, has made an oil and gas discovery near its Gjøa field in the Norwegian sector of the North Sea.

The Ofelia discovery was made about 15km north of the Gjøa production platform. The estimated recoverable volume is 2.5-6.2 million standard cubic metres or 16-39 million barrels of oil equivalent.

Ofelia lies 15km north of the operating Gjøa platform at a water depth of 344 metres. The discovery could be considered for development as a tie-back to Gjøa in tandem with the company’s recent oil and gas discovery at Hamlet.

“The Ofelia discovery validates our exploration strategy and confirms the high prospectivity potential of the area around Gjøa,” said Steinar Meland, Neptune’s head of exploration and development in Norway.

Neptune Energy owns a 40% stake in the production licence of the Ofelia discovery. Wintershall Dea and Pandion Energy own 20%, whereas Aker BP and DNO own 10% of the stakes. 

According to a spokesperson at Neptune, this is the company’s third discovery in the Agat formation, “a reservoir which until recently was not part of established exploration models on the Norwegian Shelf.”

The Ofelia drilling programme confirmed an oil/water contact at a total vertical depth of 2,639 metres.

Neptune Energy’s Managing Director for Norway and the UK, Odin Estensen, said: “Gjøa is an important growth area for Neptune in Norway, where existing infrastructure allows for low cost and low carbon developments.” 

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