3rd Jul 2014 06:55
LONDON (Alliance News) - Tullow Oil PLC Thursday said the Hanssen well in its production licence 537, offshore Norway, has found a 20- to 25-metre region of oil bearing sandstones at its main target, adding to the potential of the Wisting cluster area.
The FTSE 100 oil and gas exploration company said the well found a good quality reservoir in the Stø Formation and also found poor-quality hydrocarbon bearing sandstones in the Late Triassic and Middle Triassic zones of the well.
The company said coring and sampling has been carried out on all of the formations but the new discovery produced a maximum production rate of 2,006 barrels per day of oil and 325,000 standard cubic feet per day of gas after a short test at the site.
Tullow Oil said it expects production rates from future development wells at the site to be significantly higher, and preliminary volume estimates of up to 50 million barrels of recoverable oil from the discovery show the potential of the Wisting cluster area.
The well was drilled around 7 kilometres northwest of the company's Wisting central oil discovery and about 315 kilometres north of the Norwegian town of Hammerfest.
In September 2013, Tullow made the first-ever oil discovery in the Hoop-Maud Basin in the Barents Sea with the Wisting Central exploration well. It found a 50 to 60 metre region of net oil pay in good quality Jurassic reservoir rocks at the time.
The Hanssen discovery is in the production licence PL537 in which Tullow has a 20% interest.
"This success is an important follow-up to our Wisting Central oil discovery in September last year which opened up the Hoop area," Tullow Oil Exploration Director Angus McCoss said in a statement.
"The Hanssen discovery gives us significant insight into the potential of the Wisting cluster and further confidence that we are on track towards proving up a major new commercial oil resource. We and our partners are preparing to drill the Hassel and Bjaaland wells in the eastern part of the Wisting cluster next year."
By Tom McIvor; [email protected]; @TomMcIvor1
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