ConocoPhillips has announced a new oil discovery in Slagugle prospect’s production license 891, located about 23km north-northeast of the Heidrun Field in the Norwegian Sea.

Production license 891 is operated by ConocoPhillips Skandinavia, which holds 80% working interest, while its partner Pandion Energy owns the remaining 20% working interest in the license.

Wildcat well 6507/5-10 S was drilled to a measured vertical height of 2,179m and 2,214m depth below the sea surface, and was terminated in the ‘Red Beds’ from the Triassic Age.

The well encountered a total oil column of 270m in the Åre Formation and Grey Beds, with a total of 90m sandstone layers with generally very good reservoir properties.

According to the preliminary estimates, the 6507/5-10 S well is expected to have 75 million to 200 million barrels of recoverable oil equivalent, ConocoPhillips said.

ConocoPhillips executive vice president and chief operating officer Matt Fox said: “This discovery marks our fourth successful exploration well on the Norwegian Continental Shelf in the last 16 months.

“All four discoveries have been made in well-documented parts of the North Sea and the Norwegian Sea and offer very low cost of supply resource additions that can extend our more than 50-year legacy in Norway.”

The company has carried out extensive data acquisition and sampling at the discovery well 6507/5-10 S, with plans for future appraisal.

The future appraisal would help the company determine the possible flow rates, the reservoir’s ultimate resource recovery and potential development plan.

Licensees are expected to evaluate the results of the discovery along with other prospects nearby, for future delineation of the discovery and potential tie-in to existing infrastructure.

ConocoPhillips said that the well was not formation-tested, but extensive data acquisition and sampling were carried out.