Energy Finance

Revus Energy ASA (OSE: REVUS) reports that BG Norge AS, operator of production license 373 S, has made a significant oil discovery on the Jordbær prospect. The well has been tested with an average oil rate of about 7,500 barrels per day.

Revus Energy is an independent Norwegian upstream E&P focused on growth in the mature areas of the Norwegian and UK Continental Shelf.

The company reports that its Jordbær discovery increases the likelihood of additional discoveries in the area.

“This discovery is very promising and of great importance to Revus,” says Harald Vabø, chief executive. “It is too early to estimate how much oil has been discovered in this well bore, but we do believe that as a consequence of this discovery, there is a relatively high probability that this area could contain enough oil and gas to double Revus’ current reserves and contingent resources.”

A sidetrack will be drilled to better determine the potential of the Jordbær Central fault compartment. Revus holds interests in several adjacent licenses to PL 373S Exploration well 34/3-1S, in northeastern Snorre field in the northern North Sea. The extension of the Tampen Spur proved an oil accumulation in reservoir of Jurassic age.

A comprehensive data acquisition program has been carried out in addition to the production test. The well discovered light oil in high-quality reservoir, the company reports. The well was drilled with the semi-submersible Bredford Dolphin in a water depth of 400 meters to a total vertical depth of 4,057 meters below the seabed. It was completed in the Triassic age Statfjord formation. The Jordbær prospect consists of two main segments; Jordbær Central and Jordbær East Exploration well 34/3-1S.

Revus Energy has 20% interest in the license. Other partners are BG Norge (operator, 45%), Idemitsu (25%) and RWE-Dea (10%).

The well will be permanently plugged and abandoned following the sidetrack operation. The Bredford Dolphin rig will then move to PL 338 and drill an appraisal well on the Luno discovery where Revus Energy has a 30% interest.

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