Neptune Energy announced the commercial discovery of oil at the Dugong well (PL882) in the Norwegian sector of the North Sea, the largest discovery in Norway so far this year.
The volumes are estimated to be in the range of 6.3 – 19.0 million standard cubic meters (MSm3) of recoverable oil equivalent, or 40 – 120 million barrels of oil equivalent (boe).
In addition, the Dugong discovery has significantly de-risked another prospect in the licence estimated by Neptune at 5.2 million standard cubic meters (MSm3) of recoverable oil equivalent, or 33 million boe. This brings Neptune’s estimate of the total resource potential in PL882 to as much as 153 million boe.