Longboat Energy starts Oswig drilling

Longboat Energy Norge AS began drilling the Oswig 30/5-4 S exploration well in production license (PL) 1100 near Tune and Oseberg fields in the Norwegian North Sea.

Oswig consists of a high pressure, high temperature Jurassic rotated fault block. The well is targeting Tarbert and Ness formations, two separate intervals which are estimated to contain combined gross unrisked mean resources of 93 MMboe. The Oswig geological chance of success is estimated to be 36% and the key risks are reservoir quality and fault seal.

The well is being drilled by the Maersk Intrepid and is expected to take up to 7 weeks to drill.

Oswig is one of the larger gas prospects being tested in Norway this year and several additional fault blocks have been identified within the license area. These prospects are estimated to contain further gross unrisked mean resources of 80 MMboe which would be significantly derisked by an Oswig discovery, the company said.

Longboat Energy is operator at PL 1100 (20%) with partners OMV (Norge) AS (40%), Source Energy AS (20%), and Wintershall DEA Norge AS (20%).