ConocoPhillips, Pandion confirm oil discovery in Norwegian Sea

Pandion Energy and ConocoPhillips announced the results from the second appraisal well 6507/5-12 S at the Slagugle oil discovery in production license 891. PL 891 is located in the Norwegian Sea approximately 20 km northeast of the Heidrun field and 270 km north of Kristiansund.

The objective of the well was to delineate the oil discovery proven in the wildcat well 6507/5-10 S and conduct a formation test to obtain better understanding of reservoir properties and connectivity in the hydrocarbon-bearing layers. Preliminary assessments indicate that the discovery is within the pre-drill resource estimates.

The appraisal well encountered several oil columns in a 188-m interval in the Åre Formation and Grey Beds, 75 m of which consist of sandstone with very good reservoir properties. Extensive data collection and sampling was carried out and a successful formation test completed. The maximum production rate was 650 std cu m of oil per flow day through a 36/64-inch nozzle opening.

Preliminary assessments indicate that the discovery is within the pre-drill resource estimates, in the range of 4.9 and 9.8 million std cu m of recoverable oil equivalent, in the main reservoir target, Middle Grey Beds, which corresponds to around 30.8 – 61.6 million barrels of oil equivalent.