More exploration around Hades/IrisSkarv (@AkerBP)

More exploration around Hades/Iris

Several licenses were awarded in the area around OMV’s Hades/Iris discovery with even 2 firm well commitments further north close to Skarv.

Hades/Iris was the largest discovery of 2018 off the coast of Mid Norway with potentially 245MMboe gas and condensate (read also “500MMboe in 2018”). OMV found gas and condensate in the Createous Lange Formation (Hades) and in the Jurassic Garn Formation (Iris). Both reservoirs had very good reservoir properties according to the operator. An appraisal well is already planned for the second quarter of 2019. The appraisal well will target the area near the crest of the structure to the south according to Faroe.

Geosection with location of the  Hades/Iris discovery and appraisal well (Figure Faroe Petroleum)

In APA18, OMV together with partners Equinor, Faroe and Spirit is awarded an extension to PL644 (PL 644C), which contains a potential southward extension of the Hades discovery also according to Faroe.

As always is the case, companies look carefully for prospects in the same play(s) and the area around the discovery was popular in the APA18 license round. The newly awarded PL1006 (Equinor, Faroe) contains the Griffon Vulture Prospect in similar Cretaceous Lange sandstones as Hades. PL1007 (Faroe, OMV, Equinor and Spirit) targets a four-way closure located on the highest part of the Sklinna Ridge just south of Hades/Iris. The prospect is named Elysium by operator Faroe Petroleum.

New production licenses close to Hades/Iris (@Faroe)

Firm wells

Both PL 1008 (Aker BP, Wellesley) and PL 1009 (ConocoPhillips, PGNIG), which are located a little bit further north of Hades/Iris, next to the stranded Victoria discovery have a firm well commitment in the work programme. The Victoria discovery 6506/6-1, contains gas in Jurassic reservoir (Garn, Ile, Tilje, Tofte, Åre fms) of poor reservoir quality, due to very silty sandstones and quartzite cement. The Jurassic reservoirs are probably too deep and of poor reservoir quality as well further to the west. Therefore, the targets in PL1008 and PL1009 are most likely Cretaceous sandstones.

Worth noting is that Aker BP, with partners Wellesley, Petoro and DNO has been awarded one more license with a firm well commitment, PL 986 in the North Sea.

Wellesley Petroleum does not want to provide more information about the targets for these firm wells. “We are very pleased to have been offered these licenses within a very prospective area and in our core area.” says Jan Tore Paulsen, exploration manager in Wellesley Petroleum.

For Aker BP these 2 licenses with firm wells are part of their infrastructure-led exploration approach. PL 1008 is close to Skarv and “an opportunity with a high upside” according to Aker BP. PL 986 is located in their NOAKA core area.