Fossil Energy – North Sea
Partners in PL248 C licence, located in the North Sea offshore Norway, have assigned the COSLPromoter semisub to drill the Toppand East well next year.
The licence is operated by Equinor with Wellesley Petroleum and Petoro participating as partners. The partnership has now signed a Rig Assignment Agreement for the COSLPromoter to drill Toppand East in H1 2024. Wellesley will operate the drilling of the prospect on behalf of the licence partners.
The semisub has been working for Equinor in Norway for years, and the operator has recently added another firm year of work to its backlog, starting in Q1 2025, as well as options for further four years. This could keep the rig busy with Equinor until 2030.
Toppand East is a low risk appraisal target following Toppand discovery from January 2022. Toppand will be developed with two oil producers and a water injector as part of the FANTA project.
Chris Elliott, CEO of Wellesley, says that Toppand East is an attractive ILX target that has the potential to add significant volumes to Toppand and to the Ringvei Vest area development.