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Neptune Energy confirms new discovery in the Norwegian Sea

Neptune Energy announced a new discovery at the Calypso exploration well (PL938) in the Norwegian Sea. Preliminary estimates are between 1 million to 3.5 million standard cu m of recoverable oil equivalent, corresponding to 6 million to 22 million BOE. Calypso is Neptune Energy’s third discovery in six months on the Norwegian Continental Shelf.

“We actively explore in areas close to existing infrastructure. These near-field discoveries allow for low-cost and low-carbon developments,” said Odin Estensen, Managing Director for Neptune Energy in Norway and the UK. “Initial analysis of Calypso indicates commercial potential. Together with our partners in the Calypso license, we will now study options to effectively develop the discovery using nearby infrastructure.”

The Calypso discovery is located within one of Neptune’s core areas, 14 km northwest of the Draugen field and 22 km northeast of the Njord A platform.

Well 6407/8-8S was drilled to a vertical depth of 3,496 m and encountered an estimated 8-m thick gas column and 30-m thick oil column in a 131-m thick Garn Formation sandstone reservoir, of good to very good quality.

Calypso was drilled by Odfjell Drilling’s Deepsea Yantai semisubmersible.

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