Longboat adds two exploration wells to Norwegian roster

Offshore staff

STAVANGER, Norway — Longboat Energy has farmed into planned wells on two Norwegian gas exploration prospects, both close to production infrastructure, via an arrangement with OMV (Norge).

Under the agreement, Longboat will take 20% interests in Oswig in licenses PL1100, PL1100B in the northern Norwegian North Sea and Velocette in PL1016 in the Norwegian Sea. OMV would retain a 40% operated position in each of the licenses.

Drilling on Oswig should start this summer, with the Velocette well planned for second-quarter 2023.

Longboat said it was seeking to build on its recent exploration successes offshore Norway as a participant in the Kveikje, Egyptian Vulture and Rødhette discoveries, boosting its net unrisked mean resources by 45 MMboe to 110 MMboe via four exploration wells drilling over the next 12 months, including the current Cambozola well (Longboat 25%).

Oswig is a HP/HT Jurassic rotated fault block close to the producing Tune and Oseberg fields, operated by Equinor. The well will target the Tarbert and Ness formations, thought to contain combined potential resources of 93 MMboe. Main risks are reservoir quality and fault seal.

Other fault blocks have been identified on PL1100 and PL1100B, which could hold a further 80 MMboe that would be greatly de-risked by an Oswig discovery.

Velocette is a gas-condensate prospect in Cretaceous Nise turbidite sands on the eastern flank of the Utgard High, identified following recent seismic reprocessing. It exhibits seismic amplitude anomalies indicative of gas-filled sands, 45 km (28 mi) from the Equinor-operated Aasta Hansteen Field.

OMV estimates potential resources of 130 MMboe, with numerous follow-up opportunities elsewhere on the license (up to 200 MMboe in total). Main risks associated with the Velocette well are reservoir presence and quality.

05.09.2022