During an excellent presentation just delivered by Carly Marshall, Head of New Ventures at Neptune Energy, it was highlighted that the Dugong partnership is still very actively looking at further opportunities to grow the proven volumes of the discovery.
Dugong was discovered and appraised earlier this year by a partnership of Neptune Energy (operator and 40%), Concedo (20%), Petrolia NOCO (20%), and Idemitsu Petroleum Norge (20%). The discovery is in a fault relay-ramp setting, which is a natural conduit for oil and gas migration. The main reservoir is the Rannoch Formation of the Brent Group, with overlying intra-Draupne turbidites as a secondary reservoir.
The volumes stated shortly after the discovery were in the range of 6.3 – 19.0 million standard cubic meters (MSm3) of recoverable oil equivalent, or 40 – 120 million barrels of oil equivalent (boe). Carly during the talk today presented a range of 6.6 – 20 million standard cubic meters (MSm3) of recoverable oil equivalent, which translates to 41 – 126 mmboe, so a slight increase with what was published before.
Another highlight Carly shared with the audience was that rather than a pre-drill prognosis of oil being present in one Upper Jurassic turbiditic sandstone, the appraisal well actually proved two Upper Jurassic sandstones being oil-bearing.
In order to further confirm the discovery, a further appraisal well will now be drilled. In addition, Neptune and partners are looking to drill an exploration well to target the so-called Dugong Tail prospect towards the south of the current find.