ConocoPhillips Announces Significant Gas Discovery Offshore Norway
12 November 2020 - 12:30AM
Business Wire
ConocoPhillips (NYSE: COP) today announced a new gas condensate
discovery in production license 1009 located 22 miles northwest of
the Heidrun Field and 150 miles from the coast of Norway in the
Norwegian Sea. ConocoPhillips Skandinavia AS is operator of the
license with 65 percent working interest. PGNiG Upstream Norway AS
holds 35 percent working interest.
The discovery well, 6507/4-1 (Warka), was drilled in 1,312 feet
of water to a total depth of 16,355 feet. Preliminary estimates
place the size of the discovery between 50 and 190 million barrels
of recoverable oil equivalent. Further appraisal will be conducted
to determine potential flow rates, the reservoir’s ultimate
resource recovery and plans for development.
“We have built a strong position on the Norwegian shelf since
the discovery of the Ekofisk Field in 1969 and we are a very active
industry operator and partner across the North Sea and the
Norwegian Sea,” said Matt Fox, executive vice president and chief
operating officer. “This discovery, potentially the largest on the
Norwegian Continental shelf this year, bolsters our position in the
Norwegian Sea and the Heidrun area. The Warka discovery and
potential future opportunities represent very low cost of supply
resource additions that can extend our multi-decade success on the
Norwegian Continental Shelf.”
The Warka well was drilled by the Leiv Eiriksson drilling rig,
which upon completion of the well will proceed to drill exploration
well 6507/5-10 S (Slagugle) in production license 891, which is
located 14 miles north-northeast of the Heidrun Field.
ConocoPhillips Skandinavia AS is operator of production license 891
with 80 percent working interest and Pandion Energy AS holds 20
percent working interest.
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About ConocoPhillips
Headquartered in Houston, Texas, ConocoPhillips had operations
and activities in 15 countries, $63 billion of total assets, and
approximately 9,800 employees at Sept. 30, 2020. Production
excluding Libya averaged 1,108 MBOED for the nine months ended
Sept. 30, 2020, and proved reserves were 5.3 BBOE as of Dec. 31,
2019. For more information, go to www.conocophillips.com.
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version on businesswire.com: https://www.businesswire.com/news/home/20201111005435/en/
John C. Roper (media) 281-293-1451 john.c.roper@conocophillips.com
Investor Relations 281-293-5000 investor.relations@conocophillips.com
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