OMV (Norge) AS completed a farm-out deal with Longboat Energy PLC for two near-term, gas weighted exploration prospects on the Norwegian Continental Shelf, Longboat said in a release July 1.
The first well, Oswig in license PL1100, is expected to spud in July. The second well, Velocette in license PL1016, is expected to spud second-quarter 2023. Additionally, and separate to the OMV farm-out, a further exploration well in which Longboat holds interest (10%), PGNiG-operated Copernicus is expected to spud before the end of this quarter.
Oswig consists of a high pressure, high temperature Jurassic rotated fault block nearby the producing Tune and Oseberg fields in the Norwegian North Sea. The well is targeting two separate intervals, the Tarbert and Ness formations. The prospect lies close to existing infrastructure with tie back potential to Oseberg and Tune fields.
Velocette is a gas-condensate prospect targeting Cretaceous Nise turbidite sands on the eastern flank of the Utgard High in the Norwegian Sea. The prospect was identified following seismic reprocessing and benefits from seismic amplitude anomalies indicative of gas-filled sands. It lies within tieback distance from Equinor-operated Aasta Hansteen field (about 45 km).
Targeted combined gross unrisked mean prospective resources for Oswig and Copernicus are 223 MMboe (45 MMboe net to Longboat).
OMV is operator of Oswig and Velocette (40%). Longboat holds 20% interest. Other partners in Oswig are Wintershall Dea (20%) and Source Energy (20%). The remaining partner in Velocette is INPEX (40%).