Eni has announced a new significant oil and gas discovery in production license PL027 in the Southern North Sea of Norway, after drilling three wells; wildcat Prince 25/8-20 S, King 25/8-20 B, and the appraisal side-track 25/8-20 C in the King Paleogene prospect, a press release reported.
The discovery was achieved through Eni’s joint venture, in which Vår Energi holds a stake of 69.85%, while the remaining shares of 30.15% are held by HitecVision.
The exploration well is considered as commercial discovery. The Prince Wildcat well encounters an oil column of about 35 meters in Triassic Skagerrak formation within good to moderate reservoir sandstones. In addition, Wildcat well king well held a gas column of about 30 meters and a light oil column of about 55 meters with excellent reservoir properties.
Meanwhile,  additional King appraisal proofed a gas column of about 40 meters and an oil column of about 55 meters. The well wasn’t formation tested, but extensive data collection was made indicating production potential of about 10,000 barrels of oil equivalent (boe) per well. The wells also have total hydrocarbons potentials of 220-360 million barrels of oil equivalent (mmbloe).