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Deepsea Yantai semisubmersible selected for exploration of North Sea prospect

Longboat Energy has selected Odfjell Drilling’s Deepsea Yantai semisubmersible for the drilling of the Lotus (Kjøttkake) exploration well offshore Norway. Work is expected to begin in Q3 2024 at License PL1182S, 4 km southeast of Longboat’s recent significant Kveikje discovery.

Based on Longboat’s estimates, Lotus contains gross mean prospective resources of 27 million BOE with further potential upside estimated at 44 million BOE. The chance of success is 56% with the key risk being hydrocarbon retention. If successful, Lotus is likely to form part of an area cluster development together with Kveikje and several other recent discoveries in the area, through infrastructure associated with the nearby giant Troll field.

“I am pleased that we have secured a rig for drilling Lotus, which could add substantial reserves to our Kveikje development if successful. The next well on the program will be Velocette, which is expected to spud late this summer, and which will be followed by Lotus next year,” said Helge Hammer, Chief Executive of Longboat Energy.

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