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Aker BP makes oil discovery in PL340 near Alvheim, offshore Norway

Published 20 February 2018

Aker BP said that it is set to complete drilling of the Frosk exploration well 24/9-12, located near Alvheim in the central part of North Sea with the well proving the presence of oil.

Preliminary analysis indicate a discovery size of 30-60 million barrels of oil equivalents (mmboe), which is significantly more than the company’s pre-drill estimates of 3-21 mmboe. The discovery also has a positive impact on the assessment of further exploration potential in the area.

Frosk is located in PL340, which also contains the Bøyla field. Bøyla has been producing oil since 2015 through a subsea installation tied back to the Alvheim FPSO.

Aker BP exploration senior vice president Gro G. Haatvedt said: “The Frosk discovery adds significant volume and value to our resource base, and provides an ideal basis for another profitable expansion project which will secure optimal utilization of the infrastructure in the Alvheim area for many years.

“The discovery has given us valuable new information about the geological conditions in the area, and has further increased the attractiveness of other possible exploration targets.”

The Norwegian Petroleum Directorate will issue a more detailed press release when the evaluation of the discovery has been completed.

Aker BP is the operator of PL340 with a 65 percent working interest. The partners are Point Resources with 20 percent and Lundin Petroleum with 15 percent.

Source: Company Press Release