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Neptune Energy makes Kyrre discovery & confirms Ofelia volumes in Gjøa area offshore Norway

Neptune Energy and its partners announced a discovery at the Kyrre prospect and confirmed the volumes for the Ofelia appraisal well, both located close to the Gjøa field in the Norwegian sector of the North Sea. It has also completed the Ofelia appraisal well in the Agat formation, with the estimated recoverable volume in the range of 16-33 million BOE.

Additionally, a sidetrack was drilled into the overlying Kyrre prospect, resulting in a new gas discovery. Estimated recoverable resources are between 11-19 million BOE of gas, bringing the total recoverable volume from both discoveries to approximately 27-52 million BOE.

“Confirming the Ofelia volume as well as making another discovery nearby, further strengthens our understanding of the Greater Gjøa Area which is an important growth hub for the business in Norway. The dual discoveries allow for a potential fast track, low-cost and low-carbon development,” stated Odin Estensen, Neptune Energy’s Managing Director for Norway and the UK.

Located 23 km north of the Neptune-operated Gjøa platform, Ofelia Agat and Kyrre will be considered for development as tiebacks to Gjøa. Neptune will also evaluate if the company’s oil and gas discovery Gjøa Nord (Hamlet), with estimated recoverable volumes between 8-24 million BOE, can be jointly developed.

The Gjøa platform is powered from shore and produces at less than half the average carbon intensity of Norwegian Continental Shelf fields.

“The reservoir quality in the Kyrre discovery is very good, which allows for high production rates. We are preparing for several other exploration opportunities in the area, such as the Cerisa well early next year,” added Steinar Meland, Neptune’s Director of Exploration and Development in Norway.

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