Fossil Energy – Oil Discovery
Aker BP has made a significant oil discovery in the Norwegian sector of the North Sea, near its planned Yggdrasil development.
In an exploration well in block 25/2, Aker BP found about 40-90 million barrels of oil equivalent (mmboe), twice what it had expected to encounter.
The well was drilled by Saipem’s Scarabeo 8 semisub rig, just three months after Aker BP received consent for exploration drilling at the site.
“We are extremely pleased with the results of this well. The discovery will be evaluated as a potential addition to the Yggdrasil development. We see further upside potential around Yggdrasil and, in collaboration with our partners, will continue active exploration in the area,” said SVP of E&P Per Oyvind Seljebotn in a statement.
Yggdrasil (formerly known as Noaka) was previously estimated to have recoverable resources in the range of 650 mmboe. The cluster of fields will be operated by Aker BP, and non-operating interests incude Equinor and PGNiG.