Neptune Energy confirms new discovery in the Norwegian Sea

(WO) — Neptune Energy and its license partners on Dec. 2 announced a new discovery at the Calypso exploration well (PL938) in the Norwegian Sea. Preliminary estimates are between 1 million standard cubic meters (MMscm) to 3.5 MMscm of recoverable oil equivalents, corresponding to 6 – 22 million barrels of oil equivalent.

Calypso is Neptune Energy’s third discovery in six months on the Norwegian Continental Shelf.

“We actively explore in areas close to existing infrastructure. These near-field discoveries allow for low cost and low carbon developments,” Odin Estensen, managing director for Neptune Energy, said. “Initial analysis of Calypso indicates commercial potential. Together with our partners in the Calypso licence we will now study options to effectively develop the discovery using nearby infrastructure.”

The Calypso discovery is located within one of Neptune’s core areas, 14 km (9 miles) north-west of the Draugen field and 22 km (13 miles) north-east of the Njord A platform.

Well 6407/8-8S was drilled to a vertical depth of 3,496 m and encountered an estimated 8 m thick gas column and 30-m thick oil column in a 131 m thick Garn Formation sandstone reservoir, of good to very good quality.

Calypso was drilled by the Deepsea Yantai, a semi-submersible rig owned by CIMC and operated by Odfjell Drilling.

Partners: Neptune Energy (operator, 30%), OKEA ASA (30%), Pandion Energy AS (20%) and Vår Energi ASA (20%)