Vår Energi drills uneconomic discovery in Barents Sea

Vår Energi ASA discovered gas in the Barents Sea Elgol prospect, but preliminary estimates indicate that the discovery is not profitable at current oil prices. Preliminary estimates indicate the size of the discovery is 0.4-3 million std cu m of oil equivalent (2.6-19 MMboe).  

Exploration well 7122/9-2, the first in production license 1131, was drilled in 415 m of water by the Cosl Prospector rig to a vertical depth of 1,844 m subsea. it was terminated in the Ørret formation in the Upper Permian. The objective of the well was to prove petroleum in the Upper Permian reservoir.

The well encountered a 1.5-m gas column in a sandstone reservoir in the Ørret formation, but reservoir properties were moderate. The remainder of the reservoir in the Ørret formation totaled 28 m with variable and generally poor quality. The gas-water contact was not encountered.

The well was not formation-tested, but data acquisition and sampling have been carried out. The well has been plugged.

Vår Energi’s next well is 7122/8-3 S Zagato.

Vår Energi is operator at PL 1131 (40%) with partners Equinor Energy AS (20%), Petoro AS (20%), and Aker BP ASA (20%).