DONG sees Oselvar in Ipswich oil find

Published Aug 20, 2008
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DONG acquires stake in one of Norway’s largest gas fields.-Spotlight

Denmark’s energy company DONG E&P Norge has struck oil in the southern North Sea at the Ipswich prospect, a structure similar to the Oselvar discovery.

Oselvar holds upwards of 38 million barrels of oil.

Operator Dong drilled wildcat well 1/3-11 and sidetrack well 10 kilometres south of Oselvar, a find which helped change the fortunes of independent partner Revus several years back. Noreco and PA Resources are the field’s other partners.

The well proved an oil column of at least 59 metres with reservoir properties comparable to Oselvar, but the Norwegian Petroleum Directorate said more “investigation” would be needed to see if 1/3-11 is commercially viable.

Partner Noreco, however, said an oil column of “at least 60 metres” confirmed a pre-drill estimate for the discovery of 24 MM bbls of oil equivalents.

“In addition to the Oselvar and Ipswich discoveries, there is significant exploration potential in (License 274),” a Noreco statement asserted. The Maersk Guardian drilled the wells in 72 metres of water.

Tags: DONG Energy, Noreco, PA Resources, Revus Energy


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