Company Engie E & P has made an oil and gas discovery in the Gjøa area in the northern part of the North Sea. The discovery estimated to contain amounts of oil and gas equivalent to between 25 and 70 million barrels.
The discovery well 36 / 7-4 is located in production license PL 636. It’s estimated to be at 4-11 million standard cubic meters (MSm3) of recoverable oil equivalent, the company said.
– The discovery is located right in the core area of the North Sea and confirms our belief that even mature areas on the Norwegian continental shelf has an interesting exploration potential.
Along with the other licensees will we now consider connecting Cara to existing infrastructure in the Gjøa field.
This will reduce the time and costs associated with development, Cedric Osterrieth, CEO in Engie E & P Norway, says.
The well is located six kilometers northeast of the Gjøa field and 55 kilometers southwest of Floro, says NPD.
Engie E & P Norway is the operator and owns 30 percent of the production license. The other licensees are Idemitsu Petroleum Norway AS (30 percent), Tullow Oil Norway AS (20 percent) and Wellesley Petroleum AS (20 percent).
Source: NTB scanpix / Norway Today