Suncor spuds Niobe exploration well (UK)

The Norwegian Energy Company ASA (Noreco) informed that drilling of the Niobe exploration well in UK licence P1889, in the North Sea, has started.

Noreco is partner in the licence with a current equity interest of 22.5 %. Suncor Energy UK Limited is the operator with 49.5% equity interest and Trap Oil Limited has 28% equity interest, of which 2.5% is a carried interest.

The licence is located in blocks 12/26b and 12/27 close to the Beatrice oil field in the Outer Moray Firth area off the north east coast of Scotland. The well is being drilled by the jack-up drilling unit Ensco 100. The main target is in a stratigraphic pinch-out trap in Late Jurassic sands 940 meters below mean sea level. Drilling time to target depth is estimated to 31 days.

According to the press release, Noreco estimates that chance of success of the Niobe well is 30% and that the prospect contains between 7 and 157 million barrels of oil equivalents (mmboe), with a P50 of 38 mmboe (gross).

As informed in the Q1 report, Norwegian Energy Company (UK) Ltd has issued an option in favour of a third party for a 10% working interest in the Niobe licence (carried well cost).

Also, following from a separate agreement, Noreco Norway AS has obtained the right to acquire without further consideration either a) all shares in Norwegian Energy Company (UK) Ltd from Norwegian Energy Company ASA, or b) the remaining 12.5% of the Niobe licence should the option be exercised by the third party.

Share this article

Follow Offshore Energy Today

Events>

<< Nov 2019 >>
MTWTFSS
28 29 30 31 1 2 3
4 5 6 7 8 9 10
11 12 13 14 15 16 17
18 19 20 21 22 23 24
25 26 27 28 29 30 1

Africa Oil Week 2020

For over 25 years Africa Oil Week has been the meeting place for Africa’s most senior E&P stakeholders.

read more >

CERAWeek 2020

 Each year, CERA clients gathered for a few days in Houston…

read more >

Offshore Technology Conference (OTC) 2020

The Offshore Technology Conference (OTC) showcases leading-edge technology for offshore drilling, exploration…

read more >

2020 EXPLORATION AND PRODUCTION STANDARDS CONFERENCE ON OILFIELD EQUIPMENT AND MATERIALS

The development of consensus standards is one of API’s oldest and most successful programs.

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply