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%.