Longboat plans to develop oil and gas project at Kveikje well in North Sea
- Project aims to localize strategic supply chains and increase private sector contribution to socio-economic development
UK-based exploration company Longboat Energy has made a major oil and gas discovery at the Kveikje exploration well (35/10-8S) operated by Equinor in production license PL293B. Longboat Energy holds a 10% stake in the prospect, DNO Norge 29%, INPEX Idemitsu 10% and Equinor 51%.
Drilled by Deepsea Stavanger, the Kveikje well is 40 kilometers from the TrollB field and 32 kilometers from the TrollC field, with a total vertical depth of 2,078 meters below sea level. The main target of the exploration well, Kveikje Main, has recoverable resources estimated at around 28 to 48MMboe, exceeding pre-drilling expectations.
According to the company, the discovery has excellent reservoir quality and provides room for simple development of nearby infrastructure. Helge Hammer, CEO of Longboat, said: “Given the high value barrels we have discovered, we believe this is an asset that can be commercialized through development or transaction. “Kveikje is the fifth well and the first of our seven drilling campaign. Three found. The rig will now be moved to the nearby Cambozola well, where we have a 25% working interest. “Cambozola is an opener and one of the largest gas discoveries to be drilled in Norway in 2022, and we expect to drill Copernicus by mid-year, another very large gas discovery.”
Oil-filled reservoirs encountered in the Kveikje Proto-Eocene target, and gas layers of similar reservoir quality encountered in the overlying Kveikje Hordaland Eocene injection rock. Two secondary targets, Rokke and N'Roll, found signs of hydrocarbon-laden sand that require further analysis to determine their potential. Rokke reached a vertical depth of 1,877m below sea level, while N'Roll reached a vertical depth of 1,997m below sea level and penetrated multiple sand belts. In November 2021, Longboat announced the discovery of a small oil project in the Mugnetind exploration well in the southern North Sea.Editor/XingWentao