The 16/1-16 exploration well is situated on the western flank of the Utsira High in the Norwegian North Sea is being drilled to appraise the Ivar Aasen and Apollo discoveries.
Bridge Energy and its partners are targeting four reservoir zones namely Noor, Mukta, Zechstein and Draupne/Asha with estimated riskless recoverable resources of about 30 million barrels of oil equivalent.
Bridge Energy CEO Tom Reynolds said, "The well is a high impact exploration well which represents a large net upside potential for
Bridge, with the costs associated with drilling operations mitigated by the Norwegian tax rebate system. We will announce results from the well once drilling operations are complete."
Wintershall, the operator of the well holds 40% interest, whereas Bridge Energy, E.ON E&P and VNG own 20% interest each.
