Aker BP makes “significant” North Sea oil discovery in record-breaking exploration well
(WO) – Aker BP has successfully completed the drilling of the Øst Frigg Beta/Epsilon exploration well in the Yggdrasil area. This marks the longest exploration well ever drilled on the Norwegian Continental Shelf and has resulted in a significant oil discovery.
When the Øst Frigg Beta/Epsilon wildcat well reached its target depth, the team had drilled 8,168 meters. As it made its way horizontally through the reservoir, the value of Yggdrasil increased meter by meter − in what is Norway’s longest ever exploration well.
The updated estimate of the discovery size is 53-90 MMboe, which is twice as large as the original pre-drill estimate and slightly larger than the preliminary estimates announced on May 25.
The discovery, located in the Yggdrasil area, contributes to increasing the resource base for the ongoing Yggdrasil development by approximately 10%. The Yggdrasil development was recently approved by Stortinget (the Norwegian parliament) and is planned to commence production in 2027.
The discovery is located within production licenses 873 and 442. In license 873, the partnership consists of Aker BP (operator, 47.7% interest), Equinor (40% interest) and PGNiG Upstream Norway (12.3% interest). In license 442, the partnership comprises Aker BP (operator, 87.7% interest) and PGNiG Upstream Norway (12.3% interest).