High risk – High rewardGjøkåsen well in the Barents Sea (source Lundin)

High risk – High reward

Equinor has started drilling well 7132/2-1 on the Gjøkåsen prospect in the Barents Sea. Partner Lundin hopes to make a billion barrels discovery in Jurassic strata.

With well 7132/2-1, Equinor (40%), together with partners Lundin, Aker BP and Petoro (each 20% working interest) is targeting the high-risk high-reward Gjøkåsen prospect. Gjøkasen (PL857) is located in the southeastern Barents Sea on the Signalhorn Dome at the border of the Tiddlybanken Basin. The well is planned to drill a shallow Jurassic target.

Location of the Gjøkåsen prospect (source Lundin)

Aker BP reports a pre-drill volume estimate of 768 mmboe, whereas Lundin’s estimate varies between 26 and 1427 mmboe with a COS of only 10%.

PL857 was awarded in the 23rd licensing round and after the disappointing well on Korpfjell the hopes are high to make a large discovery on this structure in the southeastern Barents Sea.