Norway reviews Barents Sea prospectivity

Norwegian Petroleum Directorate (NPD) has published a report upgrading exploration prospectivity in the Barents Sea, ahead of a licensing round planned later this year. Finn Aamodt, NPD's exploration manager, said Norway's Barents Sea is a very difficult geological area, but there are many exploration opportunities that have not received attention. Aamodt noted 16 discoveries have been made with 53 wells in the southern Barents Sea. These have estimated reserves totaling 290 million cu

Sept. 23, 1996

2 min read

Norwegian Petroleum Directorate (NPD) has published a report upgrading exploration prospectivity in the Barents Sea, ahead of a licensing round planned later this year.

Finn Aamodt, NPD's exploration manager, said Norway's Barents Sea is a very difficult geological area, but there are many exploration opportunities that have not received attention.

Aamodt noted 16 discoveries have been made with 53 wells in the southern Barents Sea. These have estimated reserves totaling 290 million cu m of oil equivalent, although the significant finds are all gas.

Snoevhit find is largest at 100 million cu m oil equivalent, followed by Askeladd at 65 million and Albatross Nord at 55 million cu m oil equivalent. Oil reserves, all in noncommercial finds, total only to 25 million cu m, said Aamodt.

NPD reckons 0.3-2 billion cu m oil equivalent lies undiscovered in the Barents Sea: "The possibility of striking gas is higher than oil, but there are quite high numbers for oil, too."

NPD says there are 30-465 million cu m of oil to be discovered in unconfirmed plays and a further 30-145 million cu m of oil possible in confirmed plays.

Twelve oil companies in eight groups recently nominated 37,000 sq km of acreage for licensing in Norway's forthcoming Barents Sea licensing round. Proposed acreage lies in the western margin, Loppa High, Hammerfest basin, and on the Finnmook platform. Most of the finds to date are in the Hammerfest basin, while the western margins are virtually virgin territory.

Acreage to be licensed will be announced by Norway's Ministry of Industry and Energy by the end of September. Deadline for license applications is likely to be in January 1997, with license awards slated for March-April 1997.