Aker BP makes oil discovery in Noaka area off Norway

Aker BP reported an oil discovery with the Liatarnet exploration well in license 442 in the North of Alvheim and Krafla-Askja (Noaka) area offshore Norway. The well, which is close to being completed, proved oil with a gross resource estimate of 80-200 million boe.

“The exploration success at Liatarnet is an encouraging result of a long-term strategy to unlock the exploration potential in the Noaka area and provide the basis for an area development,” said Evy Glorstad-Clark, senior vice-president.

Further data acquisition and analysis will be undertaken to determine the drainage strategy and recovery factor for the discovery, the company said.

Aker BP is operator with 90.26%. Lotos Exploration & Production Norge AS holds 9.74%.