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May 28, 2020

OMV receives permit to drill Norwegian Sea appraisal well

Austrian oil and gas company OMV is set to drill an appraisal well in the Norwegian Sea following an offshore safety approval and the receipt of a drilling permit from the Norwegian Petroleum Directorate.

By Himaja Ganta

Austrian oil and gas company OMV is set to drill an appraisal well in the Norwegian Sea after receiveing an offshore safety approval and a drilling permit from the Norwegian Petroleum Directorate (NPD).

OMV was permitted for an exploration well 6506/11-12 S in Norwegian Sea production licence 644. OMV serves as the operator with 30% interest. Other partners include DNO (20%), Equinor (40%), and Spirit Energy (10%).

The area under PL 644 comprises parts of blocks 6506/8, 6506/10 and 6506/11. It is sited off Norway’s north-west coast. The well will be drilled approximately 4km west of the Morvin field using the Island Innovator drilling facility.

In a press statement, NPS stated: “Production licence 644 was awarded on 3 February 2012 (APA 2011). This is the second exploration well to be drilled in the licence.

“The permit is contingent on the operator securing all other permits and consents required by other authorities prior to commencing the drilling activity.”

Last month, OMV gave its Q1 earnings, showing a 65% decrease in earnings upstream due to lower oil and gas prices. Actual production levels stayed the same, but falling oil prices meant a decrease in income.

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In March this year, OMV said it is negotiating with joint venture partner Mubadala for an additional stake in petrochemicals firm Borealis.

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