Second Barents Sea oil discovery

4. juli 2014

Idemitsu is pleased to announce that its third Barents Sea well has resulted in yet another oil discovery.

Well 7324/7-2 in PL 537 was drilled by the semisubmersible drilling facility Transocean Barents, about 7 km northwest of the 7324/8-1 "Wisting Central" oil discovery and 315 k mnorth of Hammerfest. 

The primary purpose of the well was to prove petroleum in Middle Jurassic to Late Triassic reservoir rocks (Stø, Nordmela and Fruholmen formations) in the “Hanssen” prospect. The petroleum potential in Middle to Upper Triassic reservoir rocks (Snadd Formation) constituted a secondary exploration target.

The well encountered an oil column of about 20 m in the Stø Formation section, with very good reservoir properties. Mainly gas was encountered in sandstone layers in the Snadd Formation with poor reservoir properties, and no gas gradient was established.

Preliminary calculations suggest the size of the discovery is between three and eight million standard cubic metres (Sm3) of recoverable oil.

A successful formation test was carried out in the Stø Formation. The maximum production rate was 319 Sm3 oil and 9195 Sm3 associated gas per day, through a 56/64” choke.
 
PL 537 was awarded to Idemitsu and fellow licensees in 2009 as part of the 20th Licensing Round, where Idemitsu applied for the area later known as Wisting.

 “Idemitsu is pleased to see that our careful and targeted Barents Sea exploration strategy continues to deliver good results”, says Idemitsu Petroleum Norge Managing Director Teruyuki Takahashi. “The Hanssen well confirms the promising potential of the greater Wisting area, and we look forward to drilling the PL 614 “Mercury” prospect in the adjacent licence (PL 614; IPN 40 %) later this year."
 
OMV (Norge) AS is the operator in PL 537 with a 25 % license interest, and Idemitsu Petroleum Norge AS holds a 20 % partner share. Other partners in the license are Tullow Oil Norge AS (20 %), Petoro AS (20 %), and Statoil Petroleum AS (15 %).
 
The NPD press release may be found here.