Neptune Energy revises Dugong discovery size estimate following appraisal well
Neptune Energy announced an updated volume estimate for its Dugong discovery, located in the Norwegian sector of the North Sea. The adjusted resource range is based on results from the recently completed appraisal well 34/4-16 S. The main objective of the well was achieved by establishing the oil water contact.
Neptune’s revised estimate of the indicative recoverable resources is 40-108 MMBOE, which will be subject to further detailed analysis and review. A drill stem test on the well is planned at a later stage.
The discovery will be linked to nearby infrastructure or developed as a stand-alone development. Dugong is located 158 km west of Florø, Norway, in a water depth of 330 m, and is close to the existing production facilities of the Snorre and Statfjord fields. The reservoir lies at a depth of 3,250-3,500 m. The primary appraisal target for the well 34/4-16 S was to delineate the discovery made in the Rannoch formation in well 34/4-15 S and 34/4-15 A.
The Dugong license partners are Neptune (operator and 45%), Petrolia NOCO (20%), Idemitsu Petroleum Norge (20%) and Concedo (15%).