OKEA increases resources at Brage

OKEA ASA increased recoverable resource estimates from a Talisker West discovery at Brage field in production license (PL) 055 in the North Sea, 10 km east of Oseberg field and about 120 km west of Bergen.

The discovery was drilled with the Brage platform rig to 10,223 m MD. Through further subsurface maturation of the Talisker Statfjord formation, recoverable resource estimates (P50) have increased to 28 MMboe from 19 MMboe. Total recoverable volume estimates from Statfjord and Cook formations combined have increased to 23–44 MMboe from 16–33 MMboe.

The development plan remains unchanged, and with the increase in volumes, expected break-even cost is less than $10/bbl. Production is expected in 2027.

OKEA is operator at PL 055 (35.2%) with partners Lime Petroleum AS (33.8%), DNO Norge AS (14.3%), Petrolia NOCO AS (12.3%), and M Vest Energy AS (4.4%).