Neptune Energy won the Exploration Innovation Prize at this year's Recent Discoveries conference.
In September 2016, Engie made a surprising discovery with well 36/7-4 on the Cara prospect. The well proved a 60m oil column and a 50m gas column in the Agat formation. The well was locatad some 6 km northeast of the Gjøa Field.
Initial estimates of 7-70 MMboe made Cara the next to biggest discovery on the NCS in 2016. Late 2017, Engie increased the reserve estimate to beteween 56 and 94 MMboe.
“Since the discovery in 2016, we have analyzed the expanded data acquisition conducted during drilling and testing of the well. This has resulted in increased volumes, which gives us an improved economy and a more robust field development project,” Siri Lunde i ENGIE E&P said in a pres release.
As of February this year, private-equity backed Neptune Energy completed the acquisition of Engie E&P International (EPI) from the French energy group, Engie.
At the first day of the Recent Discoveries conference in Oslo, Neptune Energy was awarded the Exploration Innovation Prize for the Cara discovery. The prize is sponsored by TGS.
Other finalists were the Zumba prospect offshore Mid-Norway and the Kayak discovery in the Barents Sea made by Statoil last year.