Offshore staff
STAVANGER, Norway – A new group of partners has been formed for PL1049 in the Norwegian North Sea, which has been stratigraphically split and re-titled PL1049S.
Longboat Energy Norge has a 40% in the newly named concession where the main target is the Tertiary play that has proven successful in the company’s Kveikje discovery in PL293B, 12 km to the east. The company held 25% in the former license where the deep Camobozola prospect was drilled last year.
DNO Norge operates the new concession with 40% with state-owned Petoro holding the remaining 20%. Two prospects have been mapped on the acreage, Jasmine and Sjøkreps, which should be de-risked by commitment wells due to be drilled in the area and processing of existing seismic data, prior to taking any drilling decisions.
According to Longboat, Sjøkreps is a fault-bounded three-way dip closure at Palaeocene level with estimated recoverable volumes in the range 20 MMboe to 300 MMboe, the main risk being reservoir quality.
Jasmine is an injectite target at Eocene level, analogous to Kveikje, with a recoverable volume estimate of 10 MMboe to -30 MMboe.
Work commitments comprise seismic studies, potential seismic reprocessing and integration of results from ongoing and near-term wells targeting the same interval in the area. A drilling decision must be taken by February 2025.
The company also plans to drill the Kjøttkake (ex-Lotus) prospect next year.
Today Longboat Energy also confirmed that its transaction with Japan Petroleum Exploration Co. Ltd. (JAPEX) to establish a joint venture in Norway has been completed with the initial investment of $16 million received by the renamed entity Longboat JAPEX Norge AS. As part of the transaction, Longboat JAPEX will use part of the JAPEX investment to repay an intercompany loan of NOK 45.5 million (about £3.5 million) to Longboat Energy.
07.17.2023
