This year’s largest oil discovery in the North Sea

North SeaNorth Sea.Photo.Photo.Pixabay

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This year’s largest oil discovery to date has been made in the Dugong well in the North Sea, west of Florø. According to Neptune Energy, the discovery corresponds to between 40 and 120 million barrels.

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The oil company Neptune Energy is the operator of the Dugong license with an ownership share of 40 per cent. The discovery in the exploration well is estimated to amount to up to 19 million standard cubic meters of recoverable oil equivalents, or up to 120 million barrels of oil.

“This is a significant and strategically important discovery for Neptune Energy. The Dugong discovery could open up several interesting opportunities in surrounding licenses, and has the potential to become a new core area for Neptune Energy in Norway,” says CEO Odin Estensen of Neptune Energy Norway in a press release.

The Dugong license is located 158 kilometers west of Florø. It consists of two reservoirs located between 3,250 and 3,500 meters below sea level.

In addition to Neptune Energy, Concedo, Petrolia Noco and Idemitsu Petroleum Norge have an ownership interest of 20 per cent each.

In March this year, Neptune Energy together with Equinor, made a slightly smaller discovery east of the Sigrun field.

© NTB Scanpix / #Norway Today

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