Fossil Energy – New Discovery
Neptune Energy today welcomed the announcement from its partner, Equinor, on the successful oil and gas discovery near the Fram field in the Norwegian sector of the North Sea.
Neptune holds a 15 per cent share in the discovery, which is situated within the Equinor-operated Fram licence area.
Preliminary estimates of the size of the discovery are between 1.5 and 5.5 million standard cubic metres (Sm3) of recoverable oil equivalents, or about 9 – 35 million barrels of oil equivalent (mboe). The licensees consider the discovery to be commercially viable and will consider the potential tie-in to other recent discoveries in the area, via existing infrastructure.
The wells were drilled by the Deepsea Stavanger drilling facility, and extensive data acquisition and sampling has been carried out.
Water depth at the site is 356 metres.
