The recoverable resources at Kveikje Main, the primary target of the exploration well, is estimated to be around 28 to 48MMboe
Longboat makes new discovery at Kveikje well. (Credit: Arvind Vallabh on Unsplash)
UK-based exploration company Longboat Energy has made a major oil and gas discovery at the Equinor-operated Kveikje exploration well (35/10-8S) in production licence PL293B.
Longboat Energy holds 10% stake in the prospect, alongside DNO Norge with 29%, INPEX Idemitsu 10%, and Equinor with 51% stake.
Kveikje well was drilled by the Deepsea Stavanger, 40km from the Troll B field and 32km from Troll C, and reached a total vertical depth of 2,078m below sea level.
The recoverable resources at Kveikje Main, the primary target of the exploration well, is estimated to be around 28 to 48MMboe, exceeding the pre-drill expectation.
According to the company, the discovery has excellent reservoir quality and offers scope for a simple development with the infrastructure located nearby.
Longboat chief executive Helge Hammer said: “We believe that this is an asset that can be commercialised via either development or transaction given the high value barrels that we have discovered.
“Kveikje is the fifth well and third discovery in our seven well drilling campaign. The rig will now move to the nearby Cambozola well where we have a 25% working interest.
“Cambozola is a play opener and one of the largest gas prospects to be drilled in Norway in 2022 and mid-year we expect to spud Copernicus, another a very large gas prospect.”
The oil-filled reservoir encountered in the Kveikje primary Eocene target, and the gas layer of similar reservoir quality encountered in the overlaying Kveikje Hordaland Eocene injectite.
The two secondary targets, Rokke and N’Roll have encountered indications of sand with hydrocarbons, which require further analysis to determine their potential.
Rokke was reached at a vertical depth of 1,877m below sea level and N’Roll was reached at a vertical depth of 1,997m below sea level and penetrated multiple sand stringers.
In November last year, Longboat has announced a minor oil discovery with the Mugnetind exploration well in licence PL906, in the Southern North Sea.