Neptune Energy Confirms Significant Discovery at Dugong

Neptune Energy Confirms Significant Discovery at Dugong

Neptune Energy has updated its volume estimate for its Dugong discovery in the Norwegian North Sea, based on results from a successful appraisal well (34/4-16 S), according to a press release issued by Neptune Energy.

Neptune achieved its main objective of the well by establishing the oil water contact. The company estimates 40-108 million barrels of oil equivalent (mmboe) recoverable, which will be subject to further analysis and review. A drill stem test on the well is planned at a later stage.

The discovery development will be either to nearby offshore infrastructure or as a stand-alone facility. Dugong is located 158 kilometers (km) west of Florø, Norway at a water depth of 330 meters, and near to production facilities of the the Snorre and Statfjord fields.

The reservoir is at depth of 3,250-3,500 meters. Well 34/4-16 S was designed to delineate last year’s discovery in the Rannoch formation in wells 34/4-15 S and 34/4-15 A.

It should be mentioned that the Dugong concession partners are Neptune Energy, the operator with 45%, Petrolia NOCO with 20%,  Idemitsu Petroleum Norge with 20%, and Concedo with 15%.


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